The group is a Japanese investment banking brokerage that will enable blockchain technology for stock trading in Myanmar (formerly Burma) adoption with an aim to implement a blockchain-based trading infrastructure for practical use within the next two years. The distributed ledger platform will be devised to connect the Yangon Stock Exchange (YSX), which is the country’s first and foremost stock exchange, and other local brokerages in the country.
The Japanese brokerage has already tested the blockchain solution using servers similar to those available and in-use in Myanmar. The testing process took place between June and September 2016 and was to gauge how a blockchain-based payments infrastructure for stock trading would work in a country which routinely sees power outages.
According to Nikkei, an Asian publication, Myanmar could represent a perfect use case for blockchain trading, as Yangon Stock Exchange only matches buy and sell orders twice a day, at 11 a.m. and 1 p.m., unlike the continuous matching that happens at most bourses. Therefore, Daiwa expects no technical issues to bar introduction of the system.
Since stock trading began in Myanmar in March 2016, five brokerages have come to exist, with more expected to form in the near future.
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