The Abu Dhabi Securities Exchange (ADX) has entered into a partnership with the UK Fintech companies Equichain. Equichain offers Blockchain technology for capital markets, and is hoping their work groups in a global exchange. With the inclusion of abu-Dhabi’s stock market, this will be the first in the Middle East, which uses the Blockchain technology.
While there are still many skeptics distrust the crypto currencies, is very little criticism of the Blockchain, according to the. Instead, she finds the world becoming more and more popular. With the Abu Dhabi Securities Exchange (ADX) has found the new promising technology with a further pendant. The stock exchange is hoping that the Blockchain technology to improve the transaction speed, and increased security.
Global exchange via Blockchain-experience
Although Equichain ADX to advise on how the Blockchain can be used for the improvement of the efficiency in the framework of market control. The focus of this collaboration is the one-sided advice to the abu Dhabi’s stock exchange by the Fintech companies. Rather, it will go to a global exchange, to optimize the use of the Blockchain technology. According to the news portal for the Middle East The National the ADX Chief Executive Rashed Al Blooshi said on 11. June:
“The open exchange with Equichain and members of the working group will allow us to identify new applications of the Blockchain technology and to test, in order to increase the speed and security of transactions on the capital market for the benefit of our investors and stakeholders.”
Equichain operates two working groups, which you can only join with invitation. A group is reserved for institutional investors, and other market infrastructure providers such as exchanges. The company has set itself the goal to simplify using the Blockchain technology, the complex processes within the trade cycle, and to support investors and capital markets. ADX will join the leadership group, “applications of Equichain platforms and products researched and provides an open Forum to discuss the practical application of the Blockchain in the capital markets.” An exchange between members of the group should contribute to the experience of the institutional use of the Blockchain technology will be shared.
“This [partnership] will strengthen our efforts to create a streamlined capital market environment for investors, which offers higher efficiency, less risk and lower costs”,
Nicholas Bone, founder and Chief Executive of Equichain stressed.