Thailand will use the blockchain for the sake of prosperity and a brighter future. What's the plan?
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According to the report , the Association of Thai bond market intends to reduce the time for issue of certificates for bonds at least twice. The main objective is to support the secondary market. To help can the blockchain.
The Introduction of new technology will begin in the end of the year. It was then Thai Association of the bond market is going to begin testing the use of the platform and to resolve issues with regulatory bodies. If the experiments succeed, will be the first platform that you can use and the Bank of Thailand, and the Commission on securities and stock exchanges of the country.
Napoleonic plans do not build. It is expected that initially, the platform will be able to issue certificates for the bonds for 3-4 days. The difference is already very noticeable, as at the moment this process takes 7 to 15 days. In the end, the time of the issuance of certificates should be reduced to 2 days. This will be possible by eliminating the issuance of paper certificates.
theImportance of the secondary bond market
Here is what it says about the initiative of the President of the Association of the Thai bond market Tada Phathead.
The Accelerated bond issue will allow their holders faster to start trading on the secondary market. This reduces settlement risk for investors. If nothing is done to accelerate the issuance of bonds, the growth of corporate bonds in the secondary market will be kept.
The Secondary bond market in Thailand has shown incredible growth over the last 6 years. In the interests of everyone to support this growth and to eliminate any obstacles. This is what forced us to come to the platform based on blockchain and . The idea was warmly received, as in the country are beginning to study the interaction with the cryptocurrency technology.
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