Israel Securities Authority Uses Blockchain Solutions
The Israel Securities Authority (ISA) has integrated distributed ledger technology into its systems, reports Finance Magnates.
The integration process was carried out in two stages. At the first one, Yael system which ensures communication with supervised entities was used.
ISA representatives noted that blockchain allowed to transfer information more safely because it confirms the origin of the messages and prevents forgery and deletion. Moreover, the recipients can’t deny the fact that they have received information from the sender.
It’s planned to implement Etsba-on voting system at the next stage. The latter will provide the investors with an opportunity to vote remotely. This stage hasn’t been completed yet.
Also, the authority is planning to implement blockchain into its control system. ISA specified that the process would take three months and that IT company Taldor will work on it.
Let us note that it’s hard to call Israeli regulatory environment blockchain-friendly. Thus, on June, 1st, a law preventing money laundering via cryptocurrency came in effect. It made cryptocurrencies equal to financial assets. Several months before, ISA announced delisting of cryptocurrency companies’ stocks from Tel Aviv Stock Exchange.