Myanmar to Establish Blockchain-based Stock Exchange

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Tokyo-based securities brokerage Daiwa Securities Group will be working with Myanmar’s Yangon Stock Exchange (YSX) to establish a Blockchain-based stock exchange by integrating Daiwa’s equity trading into the Yangon exchange platform.  Daiwa and YSX are currently testing the Blockchain platform and are in discussions with government officials to fully use the Blockchain concept for all YSX trading within a period of two years, after completing months of successful testing.

The Daiwa Institute of Research Holdings and other units of Daiwa tested the system from June to September 2016 using general-purpose servers that are available in Myanmar.

According to Nikkei:

Daiwa Institute of Research Holdings and other units of Daiwa tested the system from June to September using general-purpose servers that are available in Myanmar. On the assumption of using blockchain to connect the Yangon Stock Exchange and local brokerages, the test was conducted to gauge how the system would work in the country, which is often hit by power outages and phone lines going dead. 

YSX will be the first reported stock exchange to publicly trade equity on a Blockchain-based exchange and will likely lead other stock exchanges to follow the growing Blockchain trend in the FinTech industry.

Daiwa is Japan’s second largest securities brokerage. Japan has recently been blazing a trail in Blockchain’s development.  For instance, Japan’s House of Councillors approved a series of regulations over virtual currencies and amendment of Banking Law on May 25, 2016. More recently, forty-two local and regional banks in Japan have joined a new Blockchain consortium focused on cross-border payments.  The consortium’s membership includes a wide range of both large and smaller institutions. The launch of the consortium comes days after SBI, a financial services company based in Japan, announced that it would establish its own digital currency exchange in Japan.

About Richard Kastelein

Founder of industry publication Blockchain News, partner at ICO services collective CryptoAsset Design Group (helped raise over $200m+), director of education company Blockchain Partners (Oracle Partner) and ICO event organiser at leading industry event  CryptoFinancing (first ICO event in Europe) - Richard Kastelein is an award-winning publisher, innovation executive and entrepreneur. He sits on the advisory boards of half a dozen Blockchain startups and has written over 1200 articles on Blockchain technology and startups at Blockchain News and has also published pioneering articles on ICOs in Harvard Business Review and Venturebeat.
 
Kastelein has spoken (keynotes & panels) on Blockchain technology in Amsterdam, Antwerp, Barcelona, Beijing, Brussels, Bucharest, Dubai, Eindhoven, Gdansk, Groningen, the Hague, Helsinki, London, Manchester, Minsk, Nairobi, Nanchang, San Mateo, Shanghai,Tel Aviv and Venice. His network is global and extensive.
 
He is a Canadian (Dutch/Irish/English/Métis) whose writing career has ranged from the Canadian Native Press (Arctic) to the Caribbean & Europe. He's written occasionally for Harvard Business Review, Wired, Venturebeat, The Guardian and Virgin.com and his work and ideas have been translated into Dutch, Greek, Polish, German and French.
 
A journalist by trade, an entrepreneur and adventurer at heart, Kastelein's professional career has ranged from political publishing to TV technology, boatbuilding to judging startups, skippering yachts to marketing and more as he's travelled for nearly 30 years as a Canadian expatriate living around the world.
 
In his 20s, he sailed around the world on small yachts and wrote a series of travel articles called, "The Hitchhiker's Guide to the Seas' travelling by hitching rides on yachts (1989) in major travel and yachting publications. He currently lives in Groningen, Netherlands where he's raising three teenage daughters with his wife and sailing partner, Wieke Beenen.

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