Santiago stock exchange, DCV and GTD announce blockchain alliance

PRESS RELEASE from the Santiago stock exchange

August 27, 2019

(Please note that this is a machine translation)

The Santiago Stock Exchange, the Central Securities Depository (DCV) and Gtd today announced an association agreement, which will allow the creation of a Technology Consortium for the development of various Blockchain-based applications for the financial market. This alliance is the first of its kind in Latin America.

The agreement contemplates the development of a Business Blockchain Network, a new infrastructure that will allow the connection of local and international clients of the stock market through nodes provided by the Technological Consortium itself or installed in customer systems. In both cases, the network is accessed through APIs (Application Programming Interface) that will provide access to the different applications that will be carried out on the platform.

The Linux Foundation Foundation Hyperledger Fabric framework that the Santiago Stock Exchange successfully implemented last year on its new platform with Blockchain technology for its system of short sales and securities loans will be used to reduce applications. Times and costs of administrative processes.

“Innovation is a strategic pillar for the Santiago Stock Exchange. Through this Consortium we seek to generate the best conditions for the stock and financial business, with innovative and world-class solutions. In that sense, this alliance will allow us to make Blockchain technology available to different actors, facilitating the conduct of our clients' businesses, ”said the general manager of the Santiago Stock Exchange, José Antonio Martínez.

Fernando Yañez, general manager of the DCV, added that this agreement will allow to share with the market all the knowledge that the companies that make up the consortium have acquired in recent years, both in the study and in the development of this new technology. “Since 2017 we have been working with other securities deposits in the world in the application of blockchain to the services of our industry, to which is added the project that we are carrying out with the Central Bank of Chile to incorporate this technology in the issuance of its financial instruments, ”he said.

After signing the agreement, the institutions will form a Technical Committee to define the details and design of the project in a period of six months, at which time institutions of the application development ecosystem for the financial market will be consulted, in order to Validate the designed architecture. Subsequently, a team with experience in Blockchain development will be dedicated for about 18 months to construction based on production releases every six months.

Alberto Bezanilla, general manager of Gtd, said that “we are very proud to be part of an initiative like this, which is already working successfully and with very important players like La Bolsa and DCV, in an area where Gtd is today a Very relevant provider. Blockchain is a technology that has enormous potential to enter other markets and industries, in which our company has an important position for our connectivity, infrastructure and value-added services. We believe that this initiative opens up important possibilities for implementing similar platforms in other verticals in the future ”.