Korea Exchange joins blockchain gold rush

Korea Exchange joins blockchain gold rush

The Korea Exchange is looking to use distributed ledger technology for a new OTC trading platform.

The operator has begun the process of working out how a blockchain-based system could link sellers and buyers directly, according to the Korea Times.

"Though many steps remain before the system's official launch, we expect this would help off-board dealers to trade more easily by saving their costs and efforts in seeking trade partners," a spokesperson told the Times.

Meanwhile, the head of the Australian Securities and Investments Commission (Asic) has used a speech to say that blockchain technology has the potential to transform capital markets and "profound implications for how we regulate".

Like its Korean counterpart, the Australian Securities Exchange is hoping to harness distributed ledgers, working with startup Digital Asset to explore the use of blockchain to clear and settle transactions in equities market.

Asic chairman Greg Medcraft says regulators need to find a balance between mitigating risk and encouraging innovation.

"We want to help industry to take advantage of the opportunities on offer, whether it is from blockchain technology, or other innovations - but not at any price."

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