ANKARA / ISTANBUL – Anadolu Agency
Istanbul Turkish Exchange has developed a blockchain-based system for a flow of healthy information between financial institutions, announced on September 5 .  "With the blockchain-based project, prepared by the IT team of Borsa Istanbul, the information in the client database of the Istanbul Stock Exchange, Istanbul Clearing, Settlement and Custody Bank [Takasbank] and the Central Securities Depository of Turkey [MKK] synchronized, "said the bag in a statement.
In the framework of the project, which was designed with the Know Your Customer (KYC) concept, the addition of new customers, the change of information and the management of documents will be carried out on the blockchain network , the law statement.
"In this way, possible errors in information in the database […] will be avoided," he added.
The Istanbul Stock Exchange s The security sub-structure of the application is based on blockchain and its technical sub-structure allows the system to perform a large number of operations.
"If necessary, the application can be used in other projects," says the statement.