Kiev: Borsa
Istanbul (BIST), a Turkish stock exchange, announced the introduction
of a block system for storing and converting of users' information. The database
is developed using distributed technologies and allows synchronizing of data
from various sources.
Developments
involving the use of distributed ledger technology (DLT) make it possible to
synchronize personal information from several sources: Borsa Istanbul, Istanbul
Clearing, Settlement and Custody Bank (Takasbank) and the Central Securities
Depository of Turkey.
The system meets KYC standard and is designed to
monitor the registration of new users, regulate workflow, as well as secure
personal data processing. The BIST representatives stressed that this
innovation can be implemented in other projects if necessary.