Santiago Stock Exchange Releases Latin America's First Blockchain Alliance
Santiago Stock Exchange Launches Blockchain Alliance
A Technology Consortium will explore options for using blockchain in the financial sector to improve communications and connect stock market customers worldwide through nodes that would provide access to various applications running on the Hyperledger platform.
Within 18 months, the association is planning to create a business network that would manage a set of hubs. It is claimed that this relationship "will reduce times and costs of administrative processes".
Timeline and Industry Collaboration
Since 2017 we have been working with other securities deposits in the world in the application of blockchain to the services of our industry, to which is added the project that we are carrying out with the Central Bank of Chile to incorporate this technology in the issuance of its financial instruments
During the first six months, the Consortium will begin to identify and refine project details with the participation of interested institutions. Production releases are expected every six months.
Earlier this month, the leading Latin American bank Santander announced the creation of a “payment corridor” based on Ripple's xCurrent, with which Latin American customers will be able to transfer funds to the United States free of charge.
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