Stock Firms Incorporate Blockchain Authentication on Their HTS and WTS

Nov 07, 2018

Starting from next year, stock trading will be made available through HTS (Home Trading System) of major stock firms just by blockchain authentication. Stock firms’ goal is to expand blockchain authentication function to WTS (Web Trading System) in the future.
According to financial investment industry, 9 stock firms such as NH Investment & Securities, Daishin Securities, Yuanta Securities, Eugene Investment & Securities, eBEST Investment & Securities, Kiwoom Securities, Hana Financial Investment, Korea Investment & Securities, and Hanwha Investment & Securities have started business procedures to start providing stock trading service from their HTS through blockchain authentication.
They are attempting to apply ‘Chain ID’, which is a blockchain-based co-authentication service developed by financial investment industry, not just for personal verification and account inquiry but also for actual payments.
These 9 stock firms took the initiative to apply Chain ID to stock trading. Besides these stock firms, rest of 16 stock firms that are participating in consortiums are also planning to apply Chain ID to stock trading as well.
“With these 9 stock firms at the center, we are planning to continue to make contracts to introduce HTS payment service by end of this year.” said a representative for a blockchain consortium within financial investment industry. “We are preparing to expand application of HTS payment service to every stock firm.”

Stock Firms Incorporate Blockchain Authentication on Their HTS and WTS

In the past, Chain ID had been used to inquire MTS (Mobile Trading System). Reason why Chain ID is going to be used for payment service now is because each stock firm has a different HTS structure. There needed to be a model that can be applied to different HTS structures. Stock firms decided to provide HTS payment services without using Active X.
Consortiums are also planning to apply Chain ID to WTS at the same time. WTS is a service that allows people to trade stocks on their own through stock firms’ homepages without having to go through separate programs. They are also looking into combining Samsung Pay, which is a verification technology that utilizes biometric information such as fingerprint or iris, with WTS-based blockchain payment services.
“Because stock trading has a separate program called HTS in the middle, we are planning to apply Chain ID sequentially depending on patterns of consumers.” said a representative for a consortium.
Stock firms still need to work on expanding application of blockchain-based authentication to actual customers. Because various authentication methods such as biometric authentication and others have been introduced, strength of blockchain-based authentication is not clear yet.
“Although we agree that blockchain-based authentication will diversify authentication methods, we still have to wait and see effects of blockchain-based authentication from convenience aspect.” said an IT executive of a stock firm. “It is important to look and expand application of new services such as blockchain-based authentication and payment.”
Staff Reporter Ryu, Geunil | ryuryu@etnews.com

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