During the Changing Landscape of Securities Market, Mr.Ajay Tyagi, Chairman of the Indian Securities and Exchange Board of India ( SEBI ), has given his opinion that the use of blockchain, artificial intelligence (AI), and machine learning technologies have the potential to shift the landscape of the traditional stock market. Especially the blockchain technology, which can be used to improve the efficiency and reliability of clearing & settlement process.
Nowadays, it has become significantly harder to detect illicit activities in the market, SEBI has to step up their capability by using these new technologies as countermeasure. The Data Lake project was established to help combat those fraudulent deeds by combining AI, machine learning, in-depth analysis, natural language processing into a sophisticated analytic tool.
He also cited examples of international blockchain projects and research that international web trades are developing blockchain solutions for debt settlement. Furthermore, domestic trading websites are using it to store KYC data. However, there was never a mention of cryptocurrency and its use case.
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