By Ethan Lou
TORONTO, March 4 (Reuters) - The Toronto Stock Exchange has
hired a Bitcoin entrepreneur as its first chief digital officer
as it explores the capabilities of blockchain, the technology
behind the virtual currency, a senior executive at TSX parent
TMX Group X.TO said on Thursday.
Anthony Di Iorio, who has founded several companies based on
the technology, filled the role at Canada's largest stock
exchange in January, Jean Desgagne, chief executive of TMX's
Global Enterprise Services, said in an interview.
Stock exchanges are embracing blockchain, which allows
Bitcoin users to conduct secure transactions without middlemen,
as they seek to diversify and boost profit margins. When used to
issue securities, the technology could potentially remove the
need for clearing houses.
"Blockchain is a disruptive technology," Desgagne said,
noting that major changes could result from its potential
adoption. "We're focused on it, we're going to learn."
In January the Australian stock exchange said it had
enlisted a blockchain startup to develop a new trade settlement
system.
Nasdaq NDAQ.O in the United States used the technology
last year to issue securities to an unidentified private
investor. Last month, Nasdaq said it was developing a
blockchain-based shareholder voting system for its Estonian
stock exchange.
Blockchain could make operations "better, faster, cheaper,"
Desgagne said, but noted that, if adopted, the technology would
be only one element in TMX's digital operations.
Di Iorio and Desgagne declined to discuss details about
potential blockchain projects at TSX.
Di Iorio is the founder of the Bitcoin Alliance of Canada
and a co-founder of Ethereum, a blockchain-based computing
platform.