Blockchain is good for security transactions.

Blockchain is good for security transactions.

The Bank of Canada and TMX declared that blockchain is suitable for securities transactions.

According to the point of view of representatives of the Central Bank of Canada, stock exchange TMX Group operator, and non-commercial organization Payments Canada, distributed ledger technology (blockchain) can be used for immediate security transactions. The information is given by Reuters.

The payments can be provided by direct cash exchange between buyers and sellers. It means immediate payments.

At the same time, Scott Hendry, the senior specialist of Bank of Canada noted, there is still no clearance if blockchain technology will help to decrease expenses with securities transactions. As for the team, it still does not understand if participants will get significant profit due to this system of transactions. In summer, 2016, Bank of Canada launched the project for research of technology which is the basis of bitcoin. This initiative called Project Jasper is implemented with participation of such large banks as Bank of Montreal, CIBC, Royal Bank of Canada, Scotiabank и TD Bank.

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