5 Apr
0
BNP Paribas to develop a blockchain project
Today BNP Paribas Group has announced a new partnership that aims at allowing private companies to issue securities through the blockchain ledger.
The partnership is between BNP Paribas Securities Services and SmartAngels, a crowdfunding platform that will help BNP Paribas in a pilot project to be launched within the end of 2016.
According to a press release, BNP Paribas will develope and manage a ledger for shares in companies through the blockchain.
The main goal is to allow non-listed companies crowdfunded on SmartAngels to issue their shares on the primary market, and allow investors an access to the secondary market based on blockchain technology.
The BNP press release explained:
“Investor payments will be processed immediately and e-certificates will be issued to them straight away. Financial transactions made via the platform will therefore be performed simply, quickly, securely and for a lower cost.”
BNP Paribas believes in the Blockchain
BNP Paribas is not new in the blockchain sector.
A few months ago, in fact, BNP confirmed its belief in distributed ledger technology for financial purposes and announced that they were working on blockchain technology.
Also, BNP Paribas previously created their blockchain Bizhackathon, with the objectives of finding use cases for distributed ledger technology in the banking system.
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