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Tel Aviv Stock Exchange To Launch Blockchain Based Securities Lending Platform

The Tel Aviv Stock Exchange (TASE) has announced it will be launching a blockchain-based platform that will enhance digital securities transactions and sharing.

TASE, the only stock exchange in Israel said that it began testing the blockchain-based solution in March and it is on course to be officially launched in November. The blockchain platform is a centralized solution that uses Decentralized Ledger Technology (DLT) of Hyperledger Sawtooth. The platform will facilitate peer-to-peer sharing of data among financial organizations which will help remove the need for further transaction reconciliation.

The TASE blockchain innovation is the first of its kind in the country. Commenting on the exchange’s strides, Orly Grinfeld, EVP and Head of Clearing at TASE said;

“The Tel Aviv Stock Exchange is proud to present this first-of-a-kind lending pool, a safe, cutting-edge, and state of the art platform. The Blockchain technology will present a new level of safety for securities lending and will support growth for transactions based on this new platform. TASE is a global financial innovation leader, and strategically pursues the technological advancement of the capital market.”

Prior to this time, there has been a huge demand for the lending ecosystem in Israel which is basically facilitated by the banks. The proposed blockchain-based platform will help to serve the teaming financial agents across the country.

Israel Churning Out Innovative Blockchain Solutions

As a viable means to tag along in the dynamic growth of global blockchain-based innovations, Israeli startups are turning out to model blockchain to meet societal needs. Among this innovation is that from an Israeli based blockchain startup that developed a new technology that could prevent the loss of funds caused by human error when sending Bitcoins or other cryptocurrencies.

As the coronavirus pandemic also raged back in March, Samsung partnered with Israel’s Credorax to launch an automated blockchain payment platform with the capability to enhance settlement solutions. The state of blockchain integration amongst Israeli institutions and blockchain enthusiasts may be enhanced with this great blockchain solution being rolled out.

Israeli Court Orders Seizure Of 150 Banned Crypto Wallets

Because to a ruling reached by a court in Israel, more than 150 bitcoin wallets that have been deemed to have potential links to the funding of terrorist groups will likely have their entire balances wiped out as a consequence of this verdict.

It has been reported that the Magistrate Court in Tel Aviv has handed down a judgement that grants the Israeli government permission to confiscate all of the cryptocurrency that is stored in the more than 150 digital wallets that it has banned due to the suspicion that they are aiding terrorist organizations. The reasoning behind the ban is that the government believes that these wallets are providing support to terrorist organizations.

On the 18th of December, local Israeli media reported that Israeli Defense Minister Benny Gantz stated that the court’s order from the 15th of December has already enabled police to take an additional $33,500 from digital wallets that are related to the Islamist terrorist organization Hamas. This information was reported by the Israeli Defense Minister.

Prior to the verdict of the court, the only digital assets that the Israeli police were legally entitled to gather were those that had direct linkages to terrorist operations. They did not have the authority to confiscate any more cash that could have been included in the same wallets.

The authorities seized hold of the wallets in December of 2021 and withdrew $750,000 from each of them at that time.

Gantz issued an order on July 9, 2021, that permitted security personnel to seize bitcoin accounts that were suspected of having ties to the militant wing of the Hamas group. Gantz’s order authorized the seizure of cryptocurrency accounts.

In addition, Israeli detectives were successful in seizing 30 bitcoin wallets and 12 exchange accounts tied to Hamas in the month of February.

After the seizure, the true market worth of the cryptocurrency assets that were stolen was not disclosed to the public.

It has been shown that the use of cryptocurrencies in the process of funding terrorist groups is quite little. [C]ryptocurrencies such as Bitcoin and Ethereum play a very small role.

Early in 2022, the business that specializes in blockchain analytics known as Chainalysis came to the realization that just a minuscule portion of crypto currency was being used for illicit activities.

The Future of DAOs Takes Center Stage in Tel Aviv

Tel Aviv, Israel, 6th February, 2023, Chainwire

The DAOVOZ collective is excited to announce the inaugural DAOVOZ Tel Aviv event on February 8th, as part of the festivities surrounding ETH TLV and Building Blocks. This event will focus on the needs of builders in the DAO space and provide clarity on emerging best-practices for decentralized autonomous organizations that want to build with sustainable success in mind.

The DAOVOZ collective is a DAO of DAOs, on a mission to bring positive change to society and our environment by surfacing and amplifying the most suitable and impactful voices and ideas in the Web3 space. The collective represents leading DAOs, each on a mission to unlock a multiverse of endeavors that create a dramatic change in the current mise-en-scène.

As it currently stands, most events often prioritize corporate sponsors as speakers, leading to a bias towards speakers and thinkers who are more advantaged financially. DAOVOZ proposes to form a collective of mission-aligned DAOs to transparently, inclusively and democratically curate events and speakers.

DAOVOZ Tel Aviv is set to feature leading voices in the ecosystem, from some of the most established DAOs such as Safe DAO (previously Gnosis Safe), BitDAO, FTW DAO, DoinGud and Deep DAO. Attendees will gain insight into challenges faced by the first wave of popular DAOs and learn about emerging best-practices for success in the space.

This event is sponsored by FTW DAO, an organization dedicated to finding, funding, and fostering diverse founding teams globally, as well as MarketAcross, the event’s media partner.

“DAOVOZ Tel Aviv is a unique opportunity for builders and enthusiasts to learn from the leading voices in the DAO ecosystem,” said Isla Munro-Hochmayr, spokesperson for the DAOVOZ collective. “We believe that events like DAOVOZ Tel Aviv will bring the community one step closer to realizing its full potential and create solutions that ultimately bring Web3 and society forward.”

We have reached a point in time where the social construct of digital-first entities, paired with existing technological capabilities, have offered us the potential to re-shape how a traditional startup operates” said Ronnie Levi, Senior Account Director at MarketAcross who is also serving as a panelist at DAOVOZ Tel Aviv. “With DAOVOZ, we finally get a forum to connect, share, and learn the most effective and efficient practices from industry leaders and pioneers.”

For more information, or to register for DAOVOZ Tel Aviv, please visit www.daovoz.org

About DAOVOZ

The DAOVOZ collective is a DAO of DAOs, on a mission to bring positive change to society and our environment by surfacing and amplifying the most suitable and impactful voices and ideas in the Web3 space. The collective represents leading DAOs, each on a mission to actively shape society and the world we envision living in.

About FTW DAO

FTW DAO is a DAO dedicated to finding, funding, and fostering diverse founding teams globally. With a mission to scale the number of diverse investors in the tech ecosystems, FTW DAO believes deeply in the power of the Web3 ecosystem to develop solutions towards a better 2030 and beyond.

About MarketAcross

MarketAcross is the world’s leading blockchain and Web3 PR and marketing firm, providing a complete end-to-end organic marketing solution for blockchain companies around the world. Founded in Tel-Aviv in 2016, MarketAcross has helped many of the industry’s biggest blockchain projects build their brand, among them Polkadot, Solana, Binance, Polygon, Crypto.com, Huobi, and eToro.

Contact

Dan EdelsteinPR@marketacross.com