UTC-05:00,Friday , October 23rd 2020

Venezuela To Create Decentralized Stock Exchange On Ethereum

17:55 Thursday , October 01st 2020
Venezuela has opted to create a “decentralized” stock exchange that uses digital versions of traditional financial assets and instruments. Despite Venezuela's love for extremely centralized administrative procedures, this new stock exchange is as decentralized as possible within the current legal framework. The government says all contracts and protocols are public and auditable, and participants will apparently own their own keys and tokens.
The exchange is a DeFi platform running on the Ethereum blockchain, where traders will be able to exchange tokenized traditional assets in the form of ERC223 contracts (an alternative to ERC20) and ERC721 (unique tokens) depending on the case. The reason for doing so is, ostensibly, to allow for trading without a centralized intermediary.
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