
Borsa Istanbul builds Blockchain-based database system
Turkey’s Borsa Istanbul has developed a Blockchain-based system for healthy information flow among financial institutions.
“With the Blockchain-based project, which was prepared by the Borsa Istanbul IT team, information in the customer database of Borsa Istanbul, Istanbul Clearing, Settlement and Custody Bank [Takasbank], and the Central Securities Depository of Turkey’s [MKK] has been synchronized,” the bourse said in a statement.
Within the scope of the project, which was designed under the Know Your Customer (KYC) concept, the addition of new customers, information editing and document management will be carried out on the Blockchain network, the statement read.
The Borsa Istanbul said the application’s security substructure is based on Blockchain and its technical substructure enables the system to carry out a large number of operations.
