Euroclear, Europe's leading clearing and settlement, based in Belgium, has announced its first blockchain project. Euroclear work with ITbit to develop a system for the settlement of gold operations using blockchain technology. The goal is to reduce risk and encourage mobility more liquid gold from the London gold market is in flux. As part of the agreement, Euroclear will act as a regulated entity for the product and ITbit will be the technology provider.
This is one of many examples of how leading financial centers in the world are encouraging the most innovative companies operating in their jurisdictions to explore new technologies such as blockchain. Euroclear has been encouraged to take this step by the emphasis the British regulator to modernize and improve financial infrastructure.
Leaders of financial markets, such as New York, London, Luxembourg, Singapore and Hong Kong seeking to remain so for the future while other countries such as Spain remain in their own lethargy of innovation without major outlets for most.
The blockchain technology can be used in many ways and the British know that maybe they could stake their future as leaders if they do not climb on this bandwagon.
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