Many stock operators across the Globe have disclosed blockchain based framework for transacting scrips.

The South Korean financial regulator has proposed utilizing blockchain for trading in stock exchanges in a study released recently this week.

The Financial Supervisory Service’s (FSS) report referred to the utilization of blockchain in stock exchanges in the Japan, Australia, and United States, reported Korea JoongAng Daily. The FSS called on the country’s administrative companies and agencies to cooperate &work together on developing such a framework.

Compared to traditional frameworks, the blockchain technology guarantees tamper-proof and safer ledger to track exchanges. The technology guarantees this by facilitating a duplicate of ledgers at all gadgets associated with its network.

Many stock administrators & operators across the Globe have disclosed blockchain based framework for transacting scrips. For example, the London Stock Exchange Group is utilizing the blockchain based technology to issue private shares in small and medium-sized enterprises.

Also, Nasdaq Linq, a framework by the New York-based stock exchange transfers the private stocks in the pre-initial public offering stage.

Similarly, Australia took it a step further and it plans to switch its existing settlement and clearing framework with a distributed ledger-based option by 2021. The option, however, will be invitation only.

The FSS report noted that the application of blockchain in the stock market in Korea was still in the underlying stages. It included that there should be no barrier between private companies and public institutions in developing a blockchain framework.

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