The fourth largest exchange in the world by securities turnover, in Shanghai, intends to transfer the transaction accounting process to a distributed ledger. The capitalization of securities traded on the Shanghai stock exchange exceeds $ 5 trillion. The site’s management notes that most people believe that blockchain technology can help increase the transparency of the entire securities trading industry. The official report “The use of blockchain and control over the consequences”, prepared by analysts of the exchange, says that some participants have already begun to partially implement blockchain. It is emphasized that the technology of the distributed ledger will be implemented for accounting and clearing of absolutely any securities transactions, from buying and selling shares and bonds to trading derivatives. It is noted that not everyone is sure that the blockchain is acceptable in terms of security. To address the issue of the overall development of the blockchain in each country, analysts of the Shanghai exchange believe that it is necessary for the state to centrally work on the spread of this technology, that is, to take practical steps along with development of regulation in this sphere. China is increasingly “falling in love” with the blockchain — the authorities of the country have registered 41 blockchain patents. Now, they are investing budget funds in the study of this technology. At the same time, Beijing rigidly blocks attempts to conduct ICO and crypto-currency trade in the country. |
