Thai Bond Market Association To Implement Blockchain
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Main page News, Blockchain, Thailand

The Thai Bond Market Association (TBMA), are to implement blockchain technology for their registrar service platform, due to simplify and help the platform expand.

Market liquidity has been increasing, however, the handing out of bond certificates isn’t. This has the potential to result in the corporate bonds in the secondary market being restricted in their growth. The president of TMBA, Tada Phutthitada, said that during the first stage the issuance of the bonds will decrease from the 7-15 days that it takes now to a more respectable 3-4 days. In the future, the company hopes to be able to conduct this operation in two days.

The platform is to be based on a private blockchain allowing only registered users access to such services as a database of digitized settlements and verification of bond transactions. Also, the development will take place on a smart contract platform.

Servicing bond deposits will be implemented during the 2nd stage of the program. The 3rd stage will be the introduction of the Bond Coin, a clearing, and settlement system. Tada shared that we are to expect the new registrar platform to be added to the regulatory system by the end of 2018.

WHY IS THIS IMPORTANT?

  1. This new platform will increase the speed of the issue of the bond certificates, allowing the secondary market to grow.
  2. Blockchain technology is spreading into more and more countries via the major corporations implementing them.

Source: bangkokpost.com

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