European Banks betting on Blockchain for fast pacing of warrant issuses
Blockchain the revolutionary technology for digital assets for a better financial transaction platform is booming and now seeing its success major players have stepped in the crypto market. As new reports suggest that Eight big European financial entities have announced recently that they will be working on a developing blockchain project which will be used to log all the matters of financial warrants, which they already have as a proof of concept for now and goes by the name of The Fast Track Listings. A financial warrant is similar to a stock option which permits you to buy/sell a company’s stock at a specific price and before the expiry date, but the company is the one who issues it.
So, Spanish security regulators such as CNMV-National Securities Market Commission and significant stock market players, for instance, Commerz bank, CaixaBank and some more giant names have been working together to create this warrant issuing project which does the job within 48hours. Which is immensely quick compared to the traditional procedures which require more than a week to file the same thing.
Thus, fast-tracking the process with the help of this blockchain project, furthermore, in a joint statement, it was also said that they would continue their research and development with Blockchain as more ideas come to the table in the coming future. Which is a good sign for blockchain developers and the faith in cryptosystem might also see some positive signs?
However, too much involvement of such big names and financial institutes might also lead to the demand of regulating things under a specific entity which will upset many other the globe. Too much attention could be harmful.