It’s common knowledge that blockchain is transforming the way we do business.
BLOCKCHAIN COULD HELP SAVE MILLIONS
According to the Australian Securities Exchange (ASX), Australian firms could save up to $23 billion.
That could happen once the exchange migrates from the existing Clearing House Electronic Subregister System (CHESS) to a blockchain platform. Right now, large investors are charged 1.2% of assets for clearing and settlement services. The superannuation industry incurs costs of nearly $23 billion.
“If the value of what we can deliver by providing an enriched, real-time source of truth information to the industry ultimately allows the industry to offer new services that create only 5% incremental revenue or cost savings to end-issuers and investors, we think it’s absolutely worth pursuing,” says the CEO of ASX, Dominic Stevens, as quoted by CCN.
https://dictoms.com/australias-biggest-exchange-could-save-23-billion-with-blockchain/
