A Blockchain pilot project aimed at issuing warrants cuts the time to register a contract by more than 70% (from one week to 48 hours). The technology was successfully tested in Spain in collaboration of leading financial institutions, among them – Banco Santander, BBVA, BNP Paribas, CaixaBank, Commerzbank and Société Générale banks.
Warrants are contracts that bear the right to purchase new shares at a certain price before they expire and filter that data to all parties. The project helps shared databases work more efficiently as well as increase the security and traceability of processes. Obtaining good results, CNMV decides to keep on exploring the possibilities of Blockchain and carry the pilot on.