National Stock Exchange Of Turkey Creates Blockchain Database Platform
Today in Turkey, 45% of citizens believe that digital currencies will become the main currency for making purchases on the Internet. In fact the country’s leadership changed its attitude to bitcoin and blockchain technologies in 2018.
Borsa Istanbul, the state stock exchange of Turkey, announced the development of a blockchain-platform, which will store information about new customers and exchange documents in a decentralized network.
It is noteworthy that the blockchain platform has already allowed a number of organizations, including the national depository, clearing and settlement management, as well as Borsa Istanbul, to exchange and synchronize their customer databases.
In addition, document management and editing of customer information will also be facilitated in the blockchain network. Thus, you can avoid possible errors when entering information into the database.
The aspiration joins the growing industry, where some of the world’s largest stock exchanges are increasingly turning to blockchain technology for a number of applications, among them Australian Securities Exchange (ASX). It will become the first major stock exchange in the world to fully integrate the blockchain as a core technology for post-trading processes.
Borsa Istanbul adds that the Platform is technically adept and capable of “performing a large number of operations and can be used in other projects”, explaining that its security structure borrows from reliable guarantees provided by blockchain technology.