The German joint-stock company Deutsche Boerse (DB) has set up a dedicated unit for blockchain and crypto activities, Finextra reported on 3 September.
The new constitution "DLT, Crypto Assets and New Market Structures" will include a 24-person team led by Jens Hachmeister and will explore the disruptive potential that technology could have for the financial market infrastructure, as well as the new products that DB could develop to improve its existing offers. As described by Hachmeister:
"Deutsche Boerse has been active with technology in a first phase of conception and exploration […] However, these exploratory steps have not been coordinated at the group level of technology for our companies, for generate efficiencies and generate revenue, a centrally driven approach is needed. "
Hachmeister noted that blockchain could innovate and simplify many traditional segments in the value chain of DB, including features like the pre-IPO list, trading and clearing, settlement and custody and could also be useful for the data arm and DB financial analysis.
He admitted that while "blockchain will not be the answer to all our questions", "expectations are high" and that the move of DB is driven by the change in currents in the financial landscape:
"L & # 39; Digital economy in general is heading for decentralization In [the] future, there will be more peer-to-peer and less intermediary governed markets.In this regard, the blockchain has the potential to destroy the capitals. "
As Cointelegraph recently reported, DB recently made a one million euro investment to become a minority shareholder in the HQLAx blockchain liquidity provider. this joint two-party initiative in March to develop a blockchain-based securities lending platform using the R3 consortium's Rope platform.