The Australian Securities Exchange (ASX) has announced that it is investigating the possibility of using blockchain technology to run its exchange. ASX is the world’s 10th largest stock exchange by market capitalisation, with a total market cap of around A$2.3 trillion (US$1.7 trillion).
ASX is looking to replace its current clearing and settlement system, which is based on the decades-old CHESS system. ASX’s investigation into blockchain is part of a wider strategic review of its technology infrastructure.
The ASX is not the only exchange investigating blockchain. The Nasdaq stock exchange is also looking into the possibility of using blockchain to run its exchange. Nasdaq has been working with the blockchain startup Chain to develop a system that could be used to clear and settle trades.
The ASX announcement comes as the Australian government is investigating the possibility of using blockchain to track welfare payments. The government is also considering using blockchain to track the ownership of shares and other assets.
Blockchain is a distributed database that allows for secure, transparent and tamper-proof transactions. Blockchain is the technology that underpins the digital currency bitcoin.
ASX’s announcement is a positive development for the blockchain industry. The fact that a major stock exchange is investigating the use of blockchain technology shows that the technology is gaining mainstream acceptance.
Other related questions:
Q: What companies have invested in blockchain?
A: There are a variety of companies that have invested in blockchain technology. Some notable examples include Microsoft, IBM, and JPMorgan Chase.
Q: How many blockchain companies are there in Australia?
A: There are currently over 200 blockchain companies in Australia.
Q: Who is Blockchain Australia?
A: Blockchain Australia is a not-for-profit association representing the Australian blockchain community. We are a member-driven organisation with a mission to grow the Australian blockchain ecosystem by connecting industry, government, and academia. We aim to promote the use of blockchain technology and educate the public about its potential.
Q: Is Bitcoin on the Australian Stock Exchange?
A: Bitcoin is not currently listed on the Australian Stock Exchange.
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