In a move to further the study of blockchain technology, the Toronto Stock Exchange has appointed a Bitcoin entrepreneur as its first chief digital officer, a senior executive at TSX parent TMX Group told Reuters.

In an interview, Jean Desgagne, chief executive of TMX’s Global Enterprise Services, said that Anthony Di Iorio, founder of several blockchain-based companies, took the position at Canada’s largest stock exchange in January.

“Blockchain is a disruptive technology,” Desgagne said, noting that major changes could result from its potential adoption. “We’re focused on it, we’re going to learn.”

Desgagne further said that while blockchain could make operations “better, faster, cheaper”, he added that if adopted, the technology would be only one element in TMX’s digital operations.

Di Iorio is the founder of the Bitcoin Alliance of Canada and a co-founder of Ethereum, a blockchain-based computing platform.

The potential of blockchain and distributed ledger technologies is being realized across multiple industries. Stock exchanges, in particular, are interested in the technology as it has the potential to eliminate the need for clearing houses, when used to issue securities.

Earlier this year, the Australian stock exchange said it had enlisted a blockchain startup to develop a new trade settlement system. In yet another instance, Nasdaq used the blockchain technology last year to issue securities to an unidentified private investor, Reuters reported. In February, Nasdaq said it was developing a blockchain-based shareholder voting system for its Estonian stock exchange.