Recently, Thailand’s national stock exchange market has launched a new Blockchain-based powered component for the betterment of the startups. The Stock Exchange of Thailand has introduced a marketplace, which is a crowdfunding area and implemented on the concept of Blockchain technology. This concept aims to widen the accessibility of the users to capital funds, mainly for the domestic startups.
On Friday, there was an announcement from the Stock Exchange of Thailand that the new Blockchain component gives the access for new services, dubbed life, which enables peer-to-peer trading. This is an attempt to help the startup companies to get the access to the new capital from the respective investors. And this will include those who are drawn from the institutional investors and venture capital as well.
Live platform helps to drive Thailand’s growth, mainly for enabling SMEs and startups to have better financial access through the crowdfunding.
SET has announced that, already eight firms have joined their hands with the Blockchain based platform, and yet another 50 more companies will participate in this initiative soon. This was declared by the SET’s president, Kesara Manchusree.
The launch was decided days ago, but it took time for the technological development methods and process. As per the reports of the CoinDesk, which was reported previously, SET has planned to build up a crowdfunding Blockchain based platform for the startups in the last year of March. During that time, SET has said that more than 600 companies had already shown their interest in joining this Blockchain technology.
As the demand for this trend is growing in every nook and corner of the world, stock markets are also looking up for better opportunities. Other stock exchanges such as Hong Kong stock exchange are also trying to develop and use this technology for better securities, which will start from smaller businesses.