The blockchains reach is far and wide but on a global stage it appears to have conquered Myanmar. Working in partnership with local exchanges, it has been reported that the Daiwa Securities Group alongside Yangon Stock Exchange, major securities exchange in Japan, are currently testing out their new blockchain based trading service.
The blockchain has remained an extremely flexible infrastructure paving way for insurance and securities applications. Currently the Yangon Stock exchange aims to iron out kinks in the experimental platform during the test run in Myanmar, as it looks to the blockchain as being able to resolve problems in trading infrastructures efficiently and reliably.
“On the assumption of using blockchain to connect the Yangon Stock Exchange and local brokerages, the test was conducted to gauge how the system would work in the country, which is often hit by power outages and phone lines going dead.”
The exchange solution remains one of the few that currently do not offer real time trading with trade books emptied only twice each day providing few opportunities for short term traders, who may use exchanges such as NairaEX. It is hoped the solution can transition to a real time one in the future as Daiwa looks to integrate the technology within its own exchange given successful experimentation.
To conclude while the solution in place over in Myanmar is not a real time one, the fact that blockchain technology is harnessed international provides further legitimacy to the viability of Bitcoin or digital currencies becoming everyday coins. While it may be in its infant stages the experiment provides a valuable insight into blockchain use in the trading sector.