Director of the e-banking department at CBI’s Monetary and Banking Research Institution, Nima Amirshekari, has announced that numerous exchange organizations have made use of blockchain technology to authenticate securities and have done initial tests.
Nima Amirshekari talked over blockchain usages in financial fields and said:
Taxes and blockchain fields are the current subjects of debate, as governments are taking part. The first criterion that western governments consider about newfound technologies is taxable income.
He affirmed that blockchain is relevant to finance in some ways including crypto assets that are widely reached through the technology.
Crypto assets as tax sources
Crypto assets are considered as tax sources. They open doors for the governments to earn money, Amirshekari added.
He continued to mention distributed ledger technology which brings great financial transparency. Since there is no possibility of creating an account on the blockchain, this leads to fiscal transparency.
Authenticating securities in exchanges using blockchain technology
He discussed blockchain usage in the exchange field:
This technology is fitting for different industries. But is it faster, safer and more cost-efficient than prior and existing methods?