Tel Aviv Exchange Sets Launch Date for Blockchain Securities Platform

The Tel Aviv Stock Exchange (TASE) is set to launch its Distributed Ledger Technology (DLT) Distributed Ledger Technology (DLT) A distributed ledger or distributed ledger technology (DLT) is a database that is shared and synchronized across a number of different devices in different locations. DLT networks effectively eliminate the need for a centralized authority to act as the network’s custodian. In its place is a Peer-to-Peer (P2P) network as consensus algorithms to ensure replication across nodes is undertaken.The most common kind of distributed ledger network is a blockchain network. Blockchain networks are used to A distributed ledger or distributed ledger technology (DLT) is a database that is shared and synchronized across a number of different devices in different locations. DLT networks effectively eliminate the need for a centralized authority to act as the network’s custodian. In its place is a Peer-to-Peer (P2P) network as consensus algorithms to ensure replication across nodes is undertaken.The most common kind of distributed ledger network is a blockchain network. Blockchain networks are used to Read this Term) securities lending project, which aims to fill a gap in the Israeli securities market, where there is currently no central lending platform.

Once launched in November, the platform will create one central terminal that enables direct lending among all the major financial instruments, designed as a "one-stop-shop" for all operations with securities lending and provide access to larger securities volumes in shorter terms.

The project, first announced in September 2016, has been deployed in a beta production environment over the last five months after a successful implementation of the initial proof of concept.

"The Blockchain Blockchain Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned). In this sense, blockchain is immune to the manipulation of data, making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tamp Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned). In this sense, blockchain is immune to the manipulation of data, making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tamp Read this Term technology will present a new level of safety for securities lending and will support growth for transactions based on this new platform. TASE is a global financial innovation leader, and strategically pursues the technological advancement of the capital market," said Orly Grinfeld, EVP and Head of Clearing at TASE.

TASE puts the finishing touches with partners

Working with many partners, including Accenture, Intel, and local fintech center The Floor, the TASE intends to profit from its advantages such as direct peer-to-peer transactions, smart contracts, and enhanced security.

Blockchain Technology Partners (BTP) is helping the exchange operator through providing its flagship blockchain management platform, dubbed 'Sextant,' which handles the deployment and ongoing management of blockchain networks.

Since the platform was built on Hyperledger Sawtooth that utilizes crypto technology to encrypt transaction data, Sextant features a one-click deployment of relevant networks running on industry-standard Kubernetes clusters, which is one of its major business attributes.

Also featured is that BTP and TASE worked on acceptance testing over the past few months with their collaboration having led to changes to the contributed upstream.

For its part, Accenture worked on the development of smart contracts on the platform that uses a blockchain to track and categorize transactions, including holdings, receipts, and settlements.