Securities and Exchange Board of India to Study Blockchain
The Securities and Exchange Board of India (SEBI) has established an advisory committee to examine the use of blockchain and other technologies for further widening and deepening of the Indian securities market.
Shri T.V. Mohandas Pai, the chairman of education service provider Manipal Global and a former board member of Indian IT giant Infosys, will chair the 10-member committee.
SEBI said FinTech is affecting financial markets through various channels, be it technology-driven financial market platforms for fundraising (such as peer-to-peer lending and crowd funding), online access to investment products (e-KYC, online mart investment products, Robo-advisory, and online portfolio management), post-trade market for securities (through new database technologies such as blockchain and other distributed ledger technology), product and process innovation (such as algorithmic trading, algorithmic driven synthetic investment products, virtual currencies, digital payment gateways).
The committee will examine and advise SEBI on recent and medium-term trends in FinTech developments in securities markets globally, opportunities and challenges from the new solutions, and its impact on Indian securities market.
