For the first time in Israel: The Acton for examining the uses of blockchain technology

For the first time in Israel, the Acton will be held to examine the usefulness of blockchain technology in the areas of registration and clearing of securities. The hackathon is the result of a collaboration between the Securities Authority, the Accountant General’s Division of the Ministry of Finance, Start-Up Nation Central and the Start Up Nation Policy Institute (SNPI) as part of a broad course of SNPI’s research work with the Securities Authority.

The initiative to hold the Acton in the field of blockchain is in light of Israel being a world leader in the field. According to data from Start-Up Nation Central, the Israeli fintech field is one of the fastest growing in Israeli high-tech. In addition, in accordance with the conclusions of the Securities Authority’s committee for the promotion and establishment of digital markets in Israel from January 2020, it was found that the technology has the potential to promote the Israeli capital market. The integration of Israeli technologies in the Israeli capital market may lead to a reduction in trading costs for end customers, a reduction of systemic risks to the economy and the promotion of a technological environment that will encourage financial innovation. Hackathon will bring together entrepreneurs, developers, technology companies, capital market people and regulators, for a joint effort to promote innovation at key nodes in the capital market in Israel. The winning group will be awarded a prize of 10,000 NIS and accompanied by one of the technology providers who will accompany the Acton.

Acton participants will receive professional guidance and guidance from leading technology providers: Digital Asset, VMware and Algorand Inc. In addition, the technology consultants who accompany the Acton – QEDIT.

The acton will be held on 20.1.2022 and will present the participants with the following challenges:
• Issue of challenge and trading in government bonds.
• Property services: securities and sovereign debt. Among other things in the context of exercising voting rights and distributing dividends and interest.
• Streamlining regulatory reporting processes.

Registration for teams interested in participating in the Acton is open until 6.1.2022 via the link to the official website of the Acton: https://blockchainfinanceisrael.hackerearth.com/

Among the judges who will accompany the hacking are the Accountant General of the Ministry of Finance – Roe"H. Yahli Rotenberg, Hugh"The Tel Aviv Stock Exchange – Arik Steinberg, Ghela Boskovich, an expert in Open Banking regulation combining fintech and banks and financial information technologies, and Daniel Eidan, consultant and architect of solutions regarding blockchain and CBDC at the Bank’s Innovation Center for International Settlements (BIS).

Illustration. Credit: freepik

Source link

Leave a Reply

Your email address will not be published.