- The Ministry of Digital Affairs and the GPW have signed a memorandum of understanding on blockchain applications on the capital market
- GPW will support the Ministry of Digital Affairs in the implementation of the digitization of public administration using blockchain
The Ministry of Digital Affairs and the Warsaw Stock Exchange have signed a memorandum of understanding relating to blockchain applications in the public sector. The objective of the MoU is to promote the use of blockchain on capital markets and implement similar solutions wherever they can improve the effectiveness, efficiency and productivity of processes in the economy and in the future. # 39; administration.
"We want to work together to create a friendly and safe environment for high-tech companies.We need to look for ways to mutually improve development trends in blockchain, AI, IoT, cloud computing" said Deputy Minister of Digital Affairs Karol Okoński. "Our cooperation will allow the development of proposed standards for blockchain projects and we are planning to promote security standards that strengthen trust in economic transactions and in public administration" Minister Okoński said.
The cooperation between the Ministry of Digital Affairs and the GPW can help to develop the proposed requirements for projects using blockchain and open public data, which follows the technological megatrends (including Artificial Intelligence and Internet of items).
"With the signature of the Memorandum of Understanding, GPW is committed to providing ample support in the digitization of public administration. Up to now, only 5 percent of the world's major stock exchanges use blockchain while 70 percent are working on blockchain implementations. Focusing on the implementation of the blockchain, we can be one of the leaders in the world. On the capital market, the blockchain can become an important driver of the bond and credit markets, the new private market, as well as the post-trading systems, e-voting and online clearing,"Said Marek Dietl, President of GPW.
The priorities of the Ministry of Digital Affairs and the GPW are the development of security standards for economic transactions and public administration, to build a sandbox (test environment) that supports the evaluation of new solutions for the public administration and the public administration. economy and to create requirements for solutions that include the tokenisation of documents, securities and rights in order to support the security and efficiency of transactions and economic processes of administration.
Blockchain is a technology that supports secure and transparent transactions, as well as information storage and organization. Thanks to encryption, blockchain transactions must not be verified by intermediary institutions. Blockchain provides reliable identification systems. Blockchain applications will help develop a friendly and safe environment for high-tech companies in Poland.
