Reuters reported The French government has given the official nod for trading unlisted securities using Blockchain technology.
According to the article, the government has adopted new guidelines which will make it possible for banks and fintech companies to set up Blockchain Trading platforms for unlisted securities trading. The shift will permit the Blockchain Trading of these resources without relying on middlemen and theoretically at near-instant rates.
The country’s Finance Ministry, Bruno Le Maire, stated that the new rules are Blessing for Paris as a Financial Center. He said that
“THE USE OF THE NEW TECHNOLOGY ENABLES FINTECH COMPANIES AND OTHER FINANCIAL ACTORS TO COME UP WITH NEW METHODS OF TRADING SECURITIES WHICH ARE FASTER, MORE ECONOMICAL, MORE TRANSPARENT AND MUCH SAFER.”
The move comes within the nation’s aims to nurture Paris as a hub for financial innovation.
The French Government has been operating on different Blockchain efforts including a Blockchain working class founded this May to study Blockchain implementations, research its advantages and programs for the public sector.
However, The London Stock Exchange Group partnered with IBM in July to examine a personal platform for unlisted securities. The platform was created to digitize both the securities possession and also the capital construction of small to midsize enterprises.
Source: http://www.unkrypted.com/france-new-guidelines-for-blockchain-trading/
Ricky Makan is a venture capitalist and Crypto Enthusiast best known for pioneering the market for Digital Marketing. He is a Co-founder of Unkrypted, a platform which provides the latest news and information that helps understand everything about the ever-evolving world of digital currencies. He is been fascinated by Blockchain technology since the first time he heard about it in 2013