Australia Stock Exchange Adopts Blockchain

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by Mish Shedlock, Mish Talk:

The Australian Securities Exchange (ASX) will replace its current clearing system with blockchain technology.

Australia’s chief stock market exchange will Adopt Blockchain as a means of settling trades according to ASX chief executive Dominic Stevens.

This will put Australia at the forefront of innovation in financial markets,” said Stevens.

“After so much hype surrounding distributed ledger technology, today’s announcement delivers the first meaningful proof that the technology can live up to its potential,” chief executive of Digital Asset Holdings Blythe Masters said.

The value of the technology was not in question. It is perfect for many applications. The value of Bitcoin and some of the other crypto currencies is what’s in question.

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