Securities markets auditor in Spain and a few financial institutions, such as Banco Santander, have finished a blockchain pilot that tests the technology for listing stock warrant issuances.
The concept is to show that shared databases can be used to record data about contracts and spread that information to all parties. The pilot proved that the time needed for an issuance registration can be reduced by more than 70%.
After the pilot’s success, the project’s initiators plan to continue their research. According to Coindesk, Spanish national (BBVA, Banco Santander and Caixabank) and international (BNP Paribas, Commerzbank) warrant issuers are “contributing to this project”.