SBI Securities to test Blockchain for bond trading

IBM has announced SBI Securities is testing the potential of blockchain technology for a new type of bond trading system.

Working in collaboration with IBM, SBI Securities intends to make blockchain technology for securities operations commercially available in the future.

"This test aims to scrutinize barriers or complexity for practical use, develop a plan for deployment, and accumulate knowledge through applying blockchain technology to our products,” said Hiroyuki Ogawa, executive officer, SBI Securities.

"Adopting the Hyperledger Fabric, an open technology platform, and working together with IBM Japan, the leader in this area, we expect that this verification test will speed the rate of adoption of blockchain technology in the financial trading area," added Ogawa.

"As an innovative technology, blockchain has the potential to revolutionize ways businesses work together with their ecosystem of trading partners. The technology establishes accountability and transparency while streamlining business processes," said Takeshi Fukuda, director, IBM Research - Tokyo.

IBM Japan will support SBI Ssecurities by providing access to its global resources including IBM Bluemix Garage for Blockchain in Tokyo, IBM Consulting Services and IBM Research expertise in Japan.

IBM is rapidly expanding its blockchain consulting services and capabilities and actively working with clients to understand what it takes to make blockchain ready for business. Through its open source contributions and resources for blockchain software developers, IBM is advancing the science of blockchain, helping to remove complexity, and making it more accessible and open. Financial services, supply chains, IoT, risk management, digital rights management and healthcare are some of the areas that are poised for dramatic change using blockchain networks.