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.