In Israel, the introduction of blockchain in the securities market will be discussed – Bits Media

Securities Commission (ISA) will perform the organizer of the first in Israel Hakaton, dedicated to the blockchain. The task is to find promising solutions for the securities market.

ISA chairman is an anat getta (Anat Guetta) reported, what 24 Marta in Tel Aviv will be Organized hackaton, with the help of which the department hopes to attract the attention of the developers of solutions on the blockchain.

The main theme, which is declared by the organizers, The release of securities and government bonds using blockchain became. The initiative received the support of the Israeli Ministry of Finance. VMware technology suppliers are going to take part in Hakaton, Algorand и single.

Hakaton is considered part of the initiative of ISA, aimed at cooperation with the financial innovation sector and obtaining information to regulate the sphere of traditional finance and cryptocurrencies. Getta hopes, that the actions of ISA will encourage other regulatory authorities to promote projects, associated with blockchain:

“Hakaton should become a place of ISA meeting with developers, technological companies and academic scientists. Regulators and other interested parties will be able to gain deep technical knowledge about international development in the field of Fintech. This is the first forum, organized by Israeli regulators to discuss the capabilities of the latest technologies ".

The chairman of ISA believes, that regulators are often behind the issue of technology. In ISA, cryptocurrencies and blockchain are considered two separate phenomena. In the blockchain, the department sees great potential, but thinks about cryptocurrencies, that they should be controlled in Israel, and in other countries.

As for regulation methods, Getta said, that here you should not "invent a bicycle". ISA does not plan to interfere with the work of cryptocurrency firms, If they are registered in the country and receive the necessary license. The Israeli government observes normative changes, concerning blockchain and cryptocurrencies, in other countries and thinks over, how can this be applied in Israel.

Blockchain -based solutions and companies using them must have a clear idea: What is permissible, And what's not. A clear legislative framework will create a favorable conditions for technologies for work to work for work, And this will have a beneficial effect on the country's economy, Getta added:

“The regulators did not notice, When at the beginning 2018 the fascination of ICO has begun. Now there is a wide variety of cryptocurrencies: Stebblecoins, Internal tokens, NFT. Therefore, to establish control, it will be more correct to accept a wide definition of cryptocurrencies. The differences between securities and cryptocurrencies are not very clear. In the end, regulators will consider all cryptocurrencies securities, Regardless of their varieties ".

Getta explained, which does not make differences between bitcoin and any other crypto acting. When Bitcoin appeared in 2009 year, He was a "little -known phenomenon", And today, many crypto assets are on the same path. Today bitcoin is not considered a security, However, sooner or later regulators will begin to consider it such, if the definition of cryptocurrencies is unified, Getta concluded.

Recall, In January, ISA created the Blockchain Development Committee. Its tasks include identifying the advantages and risks of blockchain introduction into various industries.