THELOGICALINDIAN - Posttrade basement abettor SIX Securities Services has appear a affiliation with blockchain provider Digital Asset Holdings The two firms plan to advance a blockchainbased proofofconcept demonstratingitscommercial activity
Also Read: Blockchain Will Transform the Agriculture Industry
SIX Securities and Digital Asset Bring Blockchain to the Swiss Financial Landscape
SIX Securities is one of Europe’s arch post-trade account providers. Based in Switzerland, the close focuses on clearing, settlement, and accessory administration for audience in 65 markets globally.
By accommodating with Digital Asset, the two companies will actualize a roadmap for a whole-market basement amount chain.
The post-trade basement aggregation is a close accepter in blockchain technology. Furthermore, it believes the technology can action settlements added calmly and insert processing accoutrement into absolute balance transaction flows. If successful, the two firms’ roadmap will extend to a “production-ready service.”
Blythe Masters, Digital Asset Holdings CEO, explained how the affiliation could produce absolute apple results, stating:
Segregated Processes Better Streamlined With Blockchain Tech
SIX Securities says already the company’s goals are complete it could be a abundant band-aid for Swiss banking markets.
The antecedent appearance will body and absorb the technology in a “distributed and encrypted way.” It will deliver faster run times and added security, application a blockchain platform.
Post-trade settlements accommodate those area buyers and sellers barter details, transact, and change buying of money or securities. Often, the absolute adjustment action from alpha to end can booty three business canicule or more. At the aforementioned time as enhancing post-trade immutability, Blockchain technology can advance ability by operating in real-time.
In time, SIX Securities Services envisions blockchains transforming the post-trade ecosystem globally. Thomas Zeeb, Division CEO of SIX Securities Services, said broadcast balance tech is key to the company’s circadian operations. “We charge to accept it and, added importantly, its account and approaching adaptability in adjustment to accumulate advanced of the game,” Zeeb added.
Digital Asset has additionally been developing the artefact for approaching possibilities, and believes there is a all-inclusive arrangement of potential use cases for SIX. The ancestor will authenticate how accepted “segregated processes” can be added streamlined, and fabricated far added efficient.
SIX’s Blockchain Prototype Will Be Showcased During Sibos In Geneva
The Swiss close said it has already made considerable efforts to explore blockchains. For example, SIX has a ancestor for Corporate Actions processing and will be announcement the artefact at Sibos, in Geneva, this October.
The close will not be the alone blockchain activity showcasing its technology, as Accenture will additionally be absolute its “editable” broadcast ledger at the Sibos event.
Blockchain technology is sweeping the world. SIX Securities thinks its absolute ambit of casework can use the agreement to bring abundant benefits. Additionally, the aggregation is endemic by its users — approximately 140 banks. SIX’s admixture of bequest banking institutions believes they are the ones who will get the best of what a blockchain has to offer.
What do you anticipate about SIX Securities teaming up with Digital Asset Holdings? Let us apperceive in the comments below.
Source: ihb.io
Images via Shutterstock, and SIX Securities Services Webpage.
Did you apperceive Bitcoin.com is throwing a blockchain appointment in London this year? Our premiere event, Blockchain: Money, features the better innovators and admiral in the industry. The accident will booty place in the admirable ambience of 155 Bishopsgate, London on November 6-7, 2016. Reserve your tickets today!
