the Tel Aviv Stock Exchange wants to explore digital assets and smart contract technology

In a logic of development and in order to extend its aura internationally, the Tel Aviv Stock Exchange (TASE) wishes to modernize its offer by exploiting blockchain technology, but also that of tokenization and that of smart contracts. Additionally, TASE is also working on issuing digital government bonds through blockchain.

Israel is looking into blockchain technology

This Monday, October 24, the Tel Aviv Stock Exchange (TASE) published a five-year strategic action plan to expand its scope of action and modernize its offerings. Among its proposals, the TASE provides in particular to use blockchain technologysmart contracts and tokenization.

The plan, which will span from the year 2023 to the year 2027, will rely on the strategy that has contributed to the success of the last 5 years for the Tel-Aviv Stock Exchange. The latter, drawn up under the aegis of TASE CEO Ben-Zeev, aimed to make the Stock Exchange a central economic player in the Israeli capital market by becoming a public company offering a real system of economic profitability.

These results are without appeal: the profit margin of the Tel Aviv Stock Exchange has more than doubled, rising from 9% to 25% in the space of 5 years. Its turnover has also increased considerably, posting an annual increase of 7.5% over the same period.

According to Ben-Zeev, the TASE should show a compound annual growth rate of 10 to 12% over the coming years. Also, the next 5 years will continue to evolve in this direction, but with an emphasis on technological evolution :

“We see the next five years as a critical window of opportunity for the integration of the Israeli stock market into the technological revolution in capital markets around the world. »

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The blockchain as a vector of economic growth

Also, as we said earlier, this market development centered on technological innovation will use blockchain technologyincluding distributed ledgers (DLT), but also tokenization and smart contracts.

Thanks to this new approach to the market, the TASE wishes to consolidate its value proposition and “strengthen the cooperation as well as the international aura of the Stock Exchange”. According to the statement, the exchange should be able to offer “a basket of services and products for digital assets” in the market.

Last week, TASE announced a collaboration with the Israeli Ministry of Finance to test government bond proposal in digital form. This technological breakthrough, too, will be through blockchain technology.

This test period will make it possible in particular to assess how blockchain could reduce inherent costsimprove the security of the process, and also mitigate the various risks associated with this type of securities.

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Source: Press release

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