A unique proposition offered by Hashstacs is to offer on its platform the double-entry bookkeeping system — used by financial institutions to record their financial transactions. In double-entry bookkeeping, different sets of accounts have to be maintained for different parties. Blockchain, by its nature, allows for updates on transactions to be made sequentially — thus the term “chain” in “blockchain”. This means records can be consolidated and allows for an easier transition by financial institutions looking to transfer their records to blockchain. It is also easier for central depository clearing to be executed.
SINGAPORE (July 22): Gibraltar, despite its tiny size, is strategically located on Spain’s southern coast, with a vantage point that overlooks ships sailing in and out of the Mediterranean. In the same vein, the recently created Gibraltar Stock Exchange (GSX) is tiny, but it aims to be a key node in the new field of listed digital debt securities and funds.
GSX is doing so via a strategic stake in Hashstacs, a Singapore-based blockchain start-up just over six months old. Hashstacs provides blockchain technology under white-label arrangements to financial institutions.
