ConFEAS 2018 Advocates For The Adoption Of Blockchain Technology

The Chairman of the Federation of Asian and European Stock Exchange (ConFEAS) who is also the Director-General of Muscat Securities Market, Ahmed Saleh Al Marhoon, is calling for the application of Blockchain technology in stock markets. He adds that the application will have a far-reaching effect in attracting new investors in the market. This is because of the fact that the distributed ledger technology revolutionizes operations to boost user experience and many other benefits.

Ahmed Saleh was speaking at the closing of the Conference for the Federation of Asian and European Stock Exchange in 2018 in Abu Dhabi.

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The Aim Is To Improve Efficiency In Stock Markets

The implementation of Blockchain technologies in stock markets will upgrade trading systems in a way that enhances efficiency in stock markets. DLT application will attract more investors as most of them are often impressed by the positive development in stock markets.

Ahmed Saleh also pointed out that implementation of stock markets that are powered by Blockchain technology platforms would facilitate the realization of full digitization of trading and management. This is because of the fact that DLT systems always promote transparency that stock markets need to attract new investors. Further, it would also be important for the long-term approach to stocks trading since Blockchain platforms can accommodate various features such as Machine Learning, Big Data, Artificial Intelligence, and many other features that are required to overhaul stock markets networks.

About The Conference

ConFEAS was a two-day session that took place in Abu Dhabi with a theme of ‘Settlement Ecosystems and Augmented Reality of Trading’. The Abu Dhabi Securities Exchange, ADX, organizes the conference in collaboration with the Federation of Asian and European Stock Exchange.

The CEO of ADX, Rashed Al Blooshi, showcased the tremendous achievements that the UAE administration had accomplished in turning Ab Dhabi to an ideal destination for innovation and business.

For instance, Abu Dhabi and the entire UAE has been able to transform their economies from oil-dependent economies to global centers of business and innovation. According to the Global Financial Centers Index, GFCI, the city is ranked on position 26 which is ahead of renown cities such as Seoul and Geneva. Further, the Ipsos Top Cities 2017 ranks Abu Dhabi as the second most advanced city in the world of innovation and business.

The ConFEAS meeting for 2018 was thus strategically convened to sensitize the participants to adopt technology so that they can be competitive and efficient. Since Blockchain technology is the attest entrant into the market of computer technology after the internet, it is therefore correct to assert that the participants have been encouraged to adopt DLT.

ADX And Other Stock Markets Have Applied Blockchain Technology

According to Al Booshi, ADX has already incorporated DLT and the outcome has been strengthening of its position as a regional center for listing assets and trading. Hence, the delegates and participants the conference could relate to what Ahmed Saleh was advocating for.

Nasdaq and NYSE are the other best examples of stock exchange platforms that have revolutionized trading experience by adopting Blockchain technology.