Ah, Greece! The land of philosophers, sun-kissed shores, and now, blockchain! The Athens Exchange Group (ATHEX) has decided to dive headfirst into the digital abyss, leaving behind the dusty old ways of yore.
On the fateful day of April 16, 2025, the Sui Foundation triumphantly declared that ATHEX had completed the technical design for a shiny new digital fundraising platform. Because, you know, who needs traditional methods when you can have a blockchain party?
This platform, powered by the mystical zero-knowledge (ZK) technology, is part of a grand scheme to modernize the ancient capital markets. It’s like giving a toga to a tech-savvy centurion! 🏛️
With this partnership, they aim to create a system that promises to make fundraising as smooth as olive oil, faster than a Greek waiter dodging a broken plate, and more private than a secret recipe for moussaka. The stock exchange will be using blockchain tools to drag the current Electronic Book Building (EBB) process into the 21st century—on-chain, of course!
The EBB, a crucial method for gathering investor interest in new offerings, is about to get a makeover. Thanks to Sui’s blockchain and smart contracts, the upgraded platform will bring security and automation to a process that was previously as chaotic as a Greek wedding. 🎉
In a groundbreaking move, Sui announced that this is the first time a national stock exchange will operate a fully on-chain order book. Imagine a digital list of buy and sell offers, all stored on a blockchain, offering transparency and safety—like a well-guarded treasure chest! But fear not, dear investors, for the new platform will adhere to strict rules while keeping bids as private as a family secret. Enter ZK tech, which cleverly hides bid details while proving they are as real as your Aunt Maria’s stories about the old country.
Nikos Porfyris, the Chief Operating Officer of Athens Exchange Group, expressed his excitement, stating, “We are thrilled to take this monumental step toward harnessing cutting-edge blockchain and cryptographic technology to create an enhanced capital raising product based on EBB.” He added that the goal is to improve compliance and data quality while ensuring the system runs smoother than a well-oiled ouzo machine.
The partnership between Mysten Labs and Athens Exchange Group was first announced in March 2024. Since then, both teams have been toiling away on a proof of concept, or PoC, which is essentially a test version of the final product. Think of it as a dress rehearsal for the grand performance!
Dr. Kostas Kryptos Chalkios, Chief Cryptographer and Co-Founder of Mysten Labs, chimed in, “The focus on privacy-preserving mechanisms, combined with Sui’s unparalleled speed and security, will enable us to build a state-of-the-art PoC that can evolve into a full-fledged on-chain order book.” Because who doesn’t want their order book to be state-of-the-art? It’s like upgrading from a donkey to a Ferrari! 🏎️
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2025-04-16 22:13