The Australian Securities Exchange (ASX) has announced that it will delay its transition to use blockchain for equity transactions by six months, the Sydney Morning Herald reported yesterday on the 04th of September.
The decision to replace the Clearing House Electronic Subregister System (CHESS) on Australia's main bourse followed two years of testing of distributed ledger technology, also known as blockchain.
The move will make the Australian Securities Exchange one of the biggest mainstream financial markets to use the relatively new ledger system, best known as the technology underpinning the bitcoin cryptocurrency. Blockchain is a shared, verifiable and permanent record of data that is maintained by a network of computers.The markets operator on Tuesday said it would push the launch date from the fourth quarter of 2020 to around March-April 2021.
In January 2016, ASX bought a minority stake in a US blockchain developer Digital Asset Holdings, positioning itself to become the first stock exchange in the world to use distributed ledger technology for public companies.
Source; https://www.smh.com.au
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