Loans giant IHS Markit to establish blockchain platform and issue tokens

Managers of IHS have directly confirmed the existence of the token-related plans to the cryptocurrency press. The blockchain infrastructure called Stax will allow to operate with syndicated loans in a new way, with the use of tokens and smart contracts. Due to the high position of the London-based company in the world market ratings, one can assume these plans will not be abandoned.

With due expediency, Stax can improve the already-existing system designed in 2007. Tokens are planned to be directly backed by the money of clients - digital assets will fully mirror the fiat money on a corresponding account.

The old system of bank transfers is also repeatedly mentioned in the reports, and one of the execs of IHS Markit John Olesky is certain that blockchain would seriously optimize it.

The large scale of both the company and this new blockchain environment leads to believe that other loan firms could become more interested in tokenization. As David Sacks from the “PayPal mafia” said when holding a speech about the real estate sphere, tokens are more interesting for clients than usual assets and contracts.

Image: Andy Cross / Denver Post