German based stock exchange, Deutsche Boerse, have officially announced that they are beginning to look into the possibility of implementing blockchain technology into their current system. The exchange have gone on record to state that they are interested in finding out how using a distributed ledger type system could further improve their services in a variety of ways.
The announcement which was posted today (September 3rd 2018) went on to state that Deutsche Boerse (the world’s 9th largest stock exchange by marketcap) has set up a centralised team of 24 people, led by Jens Hachmeister, to internally investigate the “full potential” of blockchain technology in their business while also investigating the various ways in which using the tech could assist with adding services to what they currently offer their clients.
Interestingly enough, the statement released by Deutsche Boerse goes on to quote Jens Hachmeister with an extremely bullish opinion on the overall use of blockchain technology, quoting that he believes the digital economy is “heading for decentralisation” and that the future will provide clients with “more peer-to-peer governed marketplaces and less intermediaries”.
“Of course, the expectations are high and not all of them will be fulfilled – blockchain will not be the answer to all our questions. Yet the digital economy in general is heading for decentralisation. In future, there will be more peer-to-peer governed marketplaces and less intermediaries. In that regard, blockchain has the potential to disrupt the capital markets infrastructure.”
This latest announcement comes off the back of Deutsche Boerse acquiring a minority stake in HQLAx late last month. If you didn’t know, HQLAx are a liquidity and collateral management firm which aims to build a full liquidity management platform that offers securities lending using blockchain tech, with the help of Deutsche Boerse.
If you would like to read the official announcement from Deutsche Boerse you can do so on the link below.