Israel to Timesofisrael’s report, the Israel Securities Authorities (ISA) said on Wednesday that it has begun using blockchain technology to improve network security and address information security challenges.
The agency said in a statement that the technology is usually used in cryptocurrencies such as Bitcoin and is currently embedded in a system called “Yael” in ISA. Government agencies will use the system under ISA supervision. The subject communicates information and information.
It added that the blockchain will be embedded in two other systems in the future: first, the online voting system developed by ISA, where investors can use it to actively participate in meetings; the other is IT company Taldor in the past three months Developed by the Magna system, it will be used to record all reports of subjects under ISA supervision.
Blockchain is the world’s leading digital asset software platform that has been used by companies to better protect customers and transactions. The technology plays a central role in cryptocurrency transactions and can also transmit secure information over its network without human intervention.
The ISA said the move “adds a layer of security to the credibility of the information passed to the regulator.” This technology verifies the authenticity of information, prevents fraud, and prevents information from being edited or deleted. In addition, the system prevents the means of rejecting messages from the ISA. ISA added:
Embedding this technology in ISA’s information system is in line with the agency’s vision of driving financial innovation in the capital markets.
Natan Hershkovitz, director of the ISA Information Systems Department, said:
We are witnessing a growing trend of embedding innovation and revolutionary technology on a global scale, especially in the financial sector. Implementing blockchain technology in ISA’s information systems can make ISA one of the world’s leading authorities for ensuring the security and credibility of information available to the public, while also making it the leader of the Israeli public sector. One.
The Information Presented Here Does Not Constitute Investment Advice Or An Offer To Invest. The Statements, Views, And Opinions Expressed In This Article Are Solely Those Of The Author/company And Do Not Represent Those Of Coinworldstory. We Strongly Advise Our Readers To Do Your Own Research (DYOR) Before Investing In Any Cryptocurrency, Blockchain Project, Or Ico, Particularly Those That Guarantee Profits. Furthermore, Coinworldstory Does Not Guarantee Or Imply That The Cryptocurrencies Or Projects Published Are Legal In Any Specific Reader’s Location. It Is The Reader’s Responsibility To Know The Laws Regarding Cryptocurrencies And Icos In His Or Her Country. Please Respect Your Country Law & Take Advice From Your Advisor .