Myanmar Could Become Home to Blockchain Stock Exchange, Daiwa and YSX Test Platform
Myanmar’s Yangon Stock Exchange (YSX) will be establishing a Blockchain-based stock exchange with the help of Daiwa Securities Group, a Tokyo-based financial company, in order to integrate Daiwa’s equity trading into the Yangon exchange platform for the purposes of improved recordkeeping. Currently, both Daiwa and YSX are testing the Blockchain platform and are in discussions with government officials to fully use the Blockchain concept for all YSX trading within a period of two years, after completing months of successful testing. According to Nikkei, the Blockchain stock exchange proved....
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A major securities brokerage in Japan is reportedly testing a blockchain-based stock trading system in Myanmar. According to Nikkei, Daiwa Securities Group’s research outfit has been in Myanmar working with the Yangon Stock Exchange. The goal, the Asian regional newspaper reported, was to test mechanisms by which problems with critical trading infrastructure could be avoided or resolved more efficiently. Testing is said to have begun in March, involving five local firms along with the Yangon-based exchange. Daiwa, according to local sources, has an ownership stake in the exchange. The....
A prominent Japanese investment banking brokerage will negotiate with the Myanmar government to introduce blockchain technology in payments for stock trading in the country. A report by Asian publication Nikkei reveals that the Daiwa Securities Group will help adopt blockchain technology for stock trading in Myanmar (formerly Burma) with an aim to implement a blockchain-based trading infrastructure for practical use within the next two years. The distributed ledger platform will be devised to connect the Yangon Stock Exchange (YSX) – the country’s first and foremost stock exchange- and....
The Japan Exchange Group (JPX) has formed a consortium between several companies within its umbrella to test a blockchain market infrastructure proof-of-concept. JPX announced today that the Tokyo Stock Exchange and the Osaka Exchange, alongside the Japan Securities Clearing Corporation, would test the prototype collaboratively. In February, JPX announced that it was working with IBM’s Japanese division to test blockchain, using the tech firm’s Fabric blockchain platform as a basis for experimentation. The newly announced initiative builds on that early partnership. The Tokyo Stock....
While the rest of the globe is on pace to grasp this technology in hopes that it could transform financial markets, Japan is lacking specialized technicians to develop their own blockchain industry. Japan Risks Falling Behind. Japan has a shortage of developers and programmers that specialize in blockchain technology solutions, according to Reuters.....
Myanmar’s military-ruled government is proposing to enact laws that will see users of virtual private networks (VPN) and digital currencies being jailed for up to three years. In addition, offenders will be made to pay fines of up to $2,800.
Draft Bill Open for Comments
Myanmar’s military-ruled government is proposing to enact a law that outlaws the use of virtual private networks (VPN) and digital currencies in that country. Once enacted, violators of the new law not only face jail time but will be made to pay a fine.
According to a report published by....