SEBI has asked depositories to use block chain technology to record and monitor security creation as well as covenants of non-convertible securities. Distributed ledger technology has the potential to provide more resilient system than traditional centralised databases. It offers better protection against different types of cyber-attacks. The move is aimed at strengthening process of security creation and monitoring of security created, asset cover and covenants of non-convertible securities.SEBI has asked depositories to use block chain technology to record and monitor security creation as well as covenants of non-convertible securities. Distributed ledger technology has the potential to provide more resilient system than traditional centralised databases. It offers better protection against different types of cyber-attacks. The move is aimed at strengthening process of security creation and monitoring of security created, asset cover and covenants of non-convertible securities.taxmann.com Latest Statutory HappeningsRead More
