London Stock Exchange Building a Blockchain Platform for Traditional Assets

The LSE is set to revolutionize the traditional asset trading scene with its cutting-edge blockchain platform.

Dive into the details of this groundbreaking move and discover how blockchain is making waves not just in finance, but in industries like aviation too.

LSE's Blockchain Endeavor

For the past year, LSE has been exploring the possibilities of this venture.

According to Murray Ruth, the head of LSE's capital markets division, their blockchain efforts have reached a significant milestone, and a decision has been made to move forward with the plan.

Ruth made it clear that they are not building something related to cryptocurrencies.

However, the company intends to utilize blockchain technology to enhance the efficiency of holding, buying, and selling traditional assets.

Ruth further stated that the underlying idea is to use digital technologies to make the trading process for traditional assets "smoother, more cost-effective, and more transparent."

Additionally, executives from the LSE Group added that this platform would be regulated.

Ruth further shared that the project will be advanced when investors are ready and public blockchain technology has matured enough.

If realized, the LSE Group would become the first major global stock exchange to offer investors a comprehensive blockchain-driven ecosystem.

Other Financial Infrastructures Embracing Blockchain

Meanwhile, other traditional financial infrastructures are also becoming optimistic about the adoption of blockchain technology.

On August 31st, SWIFT, the interbank communication network, released a report detailing how to connect with various blockchain networks to address interoperability issues.

Outside of financial infrastructures, the aviation transport industry is starting to implement blockchain-based technologies.

On August 31st, Lufthansa Airlines launched a non-fungible token (NFT) loyalty program on the Polygon network.

NFT holders are given opportunities to earn rewards, such as lounge access and flight upgrades.