ASX Sticks With The Blockchain


There is a lot of hype around the integration of blockchain technology into various existing projects. It’s true that one could benefit from such upgrade, but there are some downsides too. For example, some problems are only to be solved. So it doesn’t come as a surprise when the decision of Australian Securities Exchange to update infrastructure if favor of blockchain becomes a cause for criticism.

The main line for critics is that implementation of blockchain is inessential and it would only cause unnecessary expenses. Also, there is an opinion that most customers would prefer if ASX switched their outdated clearing system to standard industry protocol.

On the other hand, Dominic Stevens, chief executive of ASX, says that using cutting-edge blockchain technology could become an opportunity to grow in business. ASX is working on the new software with Digital Asset Holding. They expect to decide whether to go with blockchain at the end of the financial year that ends June 2018.