Unit of Stuttgart bourse gets OK for blockchain-based trading system in Switzerland

ZURICH, March 18 (Reuters) – Switzerland’s financial market regulator FINMA has granted a Swiss subsidiary of the Stuttgart Stock Exchange a licence to operate a blockchain-based trading system in the country, the unit, BX Digital, said on Tuesday.

The core element of the new BX Digital trading system is direct settlement and transfer of assets via a blockchain based on the Ethereum operating system, without the need for intermediaries such as central securities depositories.

Blockchain applications go far beyond cryptocurrency and Bitcoin. With its ability to create more transparency and fairness while also saving businesses time and money, the technology is impacting a variety of sectors in ways that range from how contracts are enforced to making government work more efficiently. 

We’ve rounded up some examples of real-world blockchain use cases for this pragmatic yet revolutionary technology. It’s far from an exhaustive list, but they’re already changing how we do business.

Top Blockchain Applications To Know

• Money transfer
• Smart contracts
• Internet of Things (IoT)
• Personal identity security
• Healthcare
• Logistics
• Non-fungible tokens (NFTs)
• Government
• Media

Blockchain in Money Transfer

Pioneered by Bitcoin, cryptocurrency transfer apps have exploded in popularity in the 2020s. Blockchain is especially popular in finance for the money and time it can save financial companies of all sizes.

By eliminating bureaucratic red tape, making ledger systems real-time and reducing third-party fees, blockchain can save the largest banks lots of money. These companies use blockchain to efficiently transfer money.