The Santiago Stock Exchange in 1988 was one of the first stock exchanges to start electronic operations in the stock market. In 2018, through its strategic partnership with IBM for incorporating the Blockchain technology into financial market transactions, it became the first stock exchange in Latin America to use Blockchain in its operations.
At present only 0.7% of the volume traded pass through this market due to the operations carried out in the BackOffice with manual tasks that make the process more complex and slow.
The new blockchain platform will allow the streamlining and simplification of processes, reducing time and administrative costs, in such way it will be easier to conduct business.
In the case that multiple parties wish to interact, they can use a private blockchain, in which the transactions are executed through digital contracts, without the centralization of a third party that provides the service in real time.