After South Africa, the Russian Central Depository Partners China over Blockchain
A memorandum of understanding signed today sees Russia’s National Settlement Depository (NSD) and the China Securities Depository and Clearing Corporation Limited (CDSC) – both their respective countries’ central securities depositories – partner to develop blockchain applications in the post-trade space. The partnership was announced today by the NSD, which has also engaged in a similar endeavor to develop blockchain solutions with the central securities depository of South Africa, in September this year. At the time, chairman of the NSD executive board Eddie Astanin was bullish on seeing....
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South Africa's central bank, its central securities depository (CSD) and several of its largest banks came together yesterday to chart a course toward large-scale blockchain implementation. Held in Johannesburg, South Africa, the meeting saw members of the blockchain working group elect a chairman, secretariat and set strategic objectives for the year ahead. Collectively, the participants in the working group comprise nearly every participant necessary to build and implement real blockchain products. Yet, even more remarkable is the outlook of some of the participants. Monica Singer, CEO....
A Blockchain research arm of a bank in South Africa has said the technology could take up to 40% of banks’ revenue if it becomes a global standard. South Africa ‘Will End Up with a Blockchain’. Speaking at the Gordon Institute of Business Science Wednesday, Rand Merchant Bank’s (RMB) Farzam Ehsani said that blockchain “calls institutions to a new....
Africa's largest banks and South Africa’s Central Securities Depository, Strate, set up a Blockchain network that could have a far-reaching effect on the continent’s financial sector. South African Reserve Bank (SARB) and the Financial Services Board will play a role of observers. While the new working group has representatives from Standard Bank, Absa, FirstRand, Nedbank - the top four banks in Africa - and Investec which stands at the eighth position, the participation of the Reserve Bank is the most significant because the South African apex bank has been a little skeptical about....
The National Settlement Depository (NSD), Russia’s central securities depository, has developed and successfully tested an e-proxy voting system running on a distributed ledger built with the NXT distributed cryptographic platform. The project's open-source code is available on GitHub. The NSD, a member of the Moscow Exchange, is a Russian nonbanking credit organization, Russia’s central depository and a professional securities market player. The organization provides depository, banking settlement and relevant services to market players. “Over the past ten years, the global financial....
The central securities depositories (CSDs) in Russia and China have signed a memorandum of understanding that sets the stage for the two institutions to begin partnering on post-trade blockchain applications. Announced today, the deal will see Russia’s National Settlement Depository (NSD) and China’s Securities Depository and Clearing Corporation Limited (CSDC) "exchange experience and information” on a range of issues, according to an announcement from NSD. The two institutions will also collaborate on experimenting with fintech, which will include trials involving blockchain.....