Management of securities Israel (ISA) implemented in the blockchain messaging system to improve the security level. About it writes The Times of Israel.
The system is powered by Yael used for communication with the enterprises, whose activity is under the jurisdiction of the Department. Developing a service recent months has been the company Taldor, specializing in cyber security. Blockchain technology allows the system to authenticate messages and to verify the source, thus preventing fraud and building a trusting communication.
According to representatives of the ISA, the service provides a high level of confidence in the information associated with controlled companies. In the future, the Agency plans to integrate with bloccano platform online voting for shareholders and archive regulatory documents Magna.
“The introduction of blockchain technology in the messaging ISA makes the Agency one of the leaders in information security, predostavlyal society,” commented Nathan Hershkovitz (Natan Hershkovitz), head of information systems in the Management of securities.
Though the regulatory authority of Israel refers to blockchain technology, like most government agencies in the world, cryptocurrencies cause him some concern. In March, the ISA banned companies from holding, investing or mining cryptocurrency, to listing on the tel Aviv stock exchange. The main reason for the ban was high volatility cryptofaunal market — as argued by the administration, by its actions it has ensured the protection of passive investors.
Also, the Agency has already proposed recommendations on which tokens can be considered as securities and which are not. For this, however, ISA will have to consider each token separately, to exclude from the legal field various payments.
Recall that in February, the Israeli authorities recognized cryptocurrency property and required holders of the coins, as well as companies associated with business in this area, to pay taxes. In may, the Ministry of Finance of Israel, introduced the bill under which financial institutions must disclose information about cryptocurrency in customer activity.
