TORONTO May 24 TMX Group Ltd, Canada's
biggest stock exchange operator, said on Wednesday it had
developed a blockchain-based service to track the flow of
deliveries on its Natural Gas Exchange.
The company said the prototype will allow customers to track
the movement of gas supplies at delivery locations in the United
States, aiding in transparency and allowing market participants
to more accurately report their positions.
Banks and commodity traders across the world are actively
exploring potential uses for blockchain, the technology first
developed for the crypto-currency bitcoin, in the hopes its
distributed ledger technology can cut costs and reduce
TMX developed the service in partnership with Nuco Inc,
which builds custom blockchain networks for businesses.
(Reporting by Alastair Sharp)