London Stock Exchange to Launch Blockchain-Based Trading Platform for Traditional Assets
London Stock Exchange (LSE) is currently working on adopting components of blockchain technology. The traditional stock market intends to leverage the new resource for upgrading the existing asset trading networks.
A representative of the group has shared some insights regarding the matter. He told media outlets that the researchers have plans to list traditional investment products on blockchain-infrastructure.
The company has been conducting tests on blockchain protocols to achieve their target for more than a year. Head of capital markets at LSE, Murray Roos has told media that the project under development has reached a point where it will take real form. He has retained that the firm does not intend to issue new cryptocurrencies.
At the same time, he maintained that the entity is using blockchain to improve the process of buying, selling, holding, and exchanging the traditional investment instruments.
LSE Group Plans to Make Traditional Trading Products More Accessible Via Blockchain
Roos has claimed that the firm is looking into innovative methods for leveraging the blockchain technology to create a faster, cheaper, and more transparent trading market.
He claims that with the use of blockchain technology firms can make their stock offering more accessible to a greater number of potential investors. He further maintained that LSE Group has also asserted that the new market is going to be regulated.
During his media briefing, he informed that the LSE Group has waited to introduce the technology when the investors are ready. He also said that the public blockchain network was working properly before they went ahead with the project.
He also maintained that his firm is going to be the first international trading market that will offer end-to-end blockchain backed investment environment for the traders.
In addition to LSE Group there are many other traditional trading firms that are currently looking into traditional financial enterprises. SWIFT the banking giant issued a report regarding adoption of blockchain to address the issues related to interoperability.
In this manner, the digital payments platform intended to bridge the gap between various blockchain networks.
On the other hand, an aviation company has also looked into blockchain tech. Lufthansa Airlines introduced NFT loyalty collection on Polygon network. The NFT holders from this collection will gain upgrades such as flight upgrades and lounge access.
There are also a slew of companies in the energy sector such as Shell, Siemens, Power Ledger, Engie, and ACCOINA that have adopted blockchain tech in order to improve their consumer reach, simplify payment options, and offer new products or services to their consumers.
Meanwhile, platforms like SunContract and SAP extend green energy access based on blockchain infrastructure.
