IEX Trading Group, a US-based stock exchange, is trying to implement the blockchain technology into its upcoming gold exchange for greater transparency and efficiency in clearing and settling trade orders.
Matt Harris, managing director of Bain Capital Ventures which invested in IEX in early 2014, stated that company’s internal project TradeWind Markets will utilize the blockchain technology as the core infrastructure of a gold trading platform.
IEX and Harris believe that the inefficiency of trades and high transaction fees of orders and settlement of trades in the $5 trillion per annum gold market, which makes it difficult for even high profile investors to productively trade gold and other gold-related assets...
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