ASX Stock Exchange To Add Blockchain DLT Technology In Coming Years

The ASX Blockchain aims to be the first option in financial services to provide investment opportunities at an industrial scale. In efforts to minimize the risk that investors take, the change will integrate the ability to settling trades in one day, rather than the two days that it currently offers.

The purpose of the blockchain will be to clear the $2 trillion Australian equities market that deals with cash. Within this new system, there will also be automation for different actions that can be taken at the corporate level, according to an ASX consultation release. Along with automation, there are 50 other features that will be included, which are all in effort to reduce the costs associated with the market.

Even though distributed ledger technology (DLT) has not been used in over two years, the confirmation alone is significant. It marks a major change for blockchain development as a whole, since there has been no other blockchain that has made a change to this scale. It appears that much of the change is similar to the way that the bitcoin currently works, but there are a few adjustments for the needs of the ASX Blockchain.

The consultation paper is expansive, offering 87 pages that many other operators will have under supervision and interpretation. These operators will eventually be the ones that help Australia with their decisions under the blockchain, eventually advising them if the cost to trade and invest is worth the differences. Any submissions will need to be sent in before June 22nd, though there will be regulations that it needs to pass before any actual changes are made. Anything approved will not be modified until the archaic CHESS system is replaced with the intended DLT. Additionally, the changes will require a year of testing before anything else is altered.

With the new system, the current brokers should not have to adjust to much. Instead, they will be able to see their equity change in real-time, but without the need to reconcile. With the updated information, the user will have greater security in their transactions. To learn more information, investors can visit

Get Daily Headlines

Enter Best Email to Get Trending Crypto News & Bitcoin Market Updates

What to Know More?

Join Our Telegram Group to Receive Live Updates on The Latest Blockchain & Crypto News From Your Favorite Projects

Join Our Telegram

Stay Up to Date!

Join us on Twitter to Get The Latest Trading Signals, Blockchain News, and Daily Communication with Crypto Users!

Join Our Twitter

Add comment

E-mail is already registered on the site. Please use the Login form or enter another.

You entered an incorrect username or password

Sorry, you must be logged in to post a comment.
Bitcoin Exchange Guide