The main European regulatory body, Banks, is working on the Blockchain warrant issue system

Eight large European banks have announced that they will work together on a project chain lock technology to record the issuance of financial warrants, the Spanish daily El Economista reported on June 25.

The Spanish securities regulator, the Comisión Nacional del Mercado de Valores (CNMV), with the main exchange operator BME and Santander, BBVA, BNP Paribas, Caixa Bank, Commerzbank and Societe completed General Bank concept "success" proof, I am a Quick List of called monitoring. The system is designed to include the issuance of warrants in less than 48 hours, a process that usually lasts more than a week, released today, according to its statement.

Warrants are defined as derivatives that give the right to sell a security at a specific price before the expiry date.

The CNMV indicates that it will continue to study the technological use of Blockchain for both international issuers of warrants.

While banks around the world are studying the blockchain, not all banks are ready to accept the technology. Last week, the managing director of the block chain BBVA had said that the technology was "immature" and is facing major challenges. However, some banks have already adopted the technology actively: in April, Santander launched its payment network supported by Ripple (XRP) to retail customers.