Israel's Securities Watchdog Builds Blockchain Into Its Messaging Tool

Israel's securities regulator has launched a blockchain-based messaging system in a bid to improve security.

As reported by The Times of Israel, the Israel Securities Authority announced Wednesday that the tech had been rolled out initially across its "Yael" platform, which the agency uses to communicate with entities under its jurisdiction.

The Times indicates that the blockchain integration has been developed in recent months by Israeli cybersecurity firm Taldor.

By using an immutable blockchain technology, the agency aims to verify the authenticity and provenance of messages, as well as avert fraud by preventing communications from being altered.

Going forward, the ISA also aims to integrate blockchain in two other systems - an online shareholder voting platform developed by the ISA and a regulatory document archive called Magna.

"Implementing blockchain technology in the ISA's information systems makes it one of the global leading authorities in securing the information provided to the public."

While the regulator - like similar entities worldwide - is obviously sold on the benefits of blockchain, it has been more cautious when it comes to cryptocurrencies.

With Israel becoming something of a hotbed for crypto and blockchain startups the regulator has seen fit to release guidance on what tokens it would class as securities.

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