Australian Securities Exchange Partners With VMware And Digital Asset (DA) for Using Blockchain by 2021

    Australian Securities Exchange (ASX) has signed a memorandum of understanding (MoU) with Digital Asset and VMware to work together on initiatives based around blockchain-style distributed ledger technology (DLT).

    According to ASX Digital Asset and VMware would support its efforts to provide support for DLT implementations in the Australian and New Zealand markets.

    ASX is currently in the middle of one of the most prominent efforts to put blockchain-inspired technology into production. The exchange operator is currently working to replace the existing Clearing House Electronic Subregister System (CHESS) platform with another platform based on DLT. CHESS has been in operation since 1994.

    ASX says that the DLT-based replacement for the system will offer a number of advantages for market participants, but will also allow it and other companies to build new services that interact system via Digital Asset Modeling Language (DAML): the open source smart contract programming language used to build distributed applications designed by Digital Asset.

    Cryptoblock reports that the new ASX-operated system is expected to go live in 2021. In April, ASX revealed it had launched a development environment for the CHESS replacement.

    Cointelegraph reports that ASX in 2016 acquired a 5 per cent stake in the US-based Digital Asset as part of its move to implement a DLT-based replacement for CHESS.

    ASX said that the three-party MoU covers development the new system, supporting DAML, and the provision and support of the distributed ledger and associated infrastructure, which delivers ASX’s data privacy, confidentiality and security requirements at greater scale.

    ASX has established a “DLT Solutions” team as part of its efforts to capitalise on its experience of implementing an enterprise-grade DLT system.

    The parties said the MOU would also allow them to combine powers to provide and support DLT solutions to other customers in Australia and New Zealand.

    VMware’s chief research officer David Tennenhouse said the virtualization heavyweight was working closely with DA and ASX on a combined offering to provide the enterprise-grade foundation for ASX, and was looking forward to expanding the relationship.

    VMware is a NYSE-listed server virtualisation and cloud computing software provider DA is a world leader in DLT.

    Get Free Email Updates!

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

    I will never give away, trade or sell your email address. You can unsubscribe at any time.

    Joseph Kibe
    Joseph Kibe
    Joseph is a blockchain and cryptocurrency enthusiast, with a strong conviction that exposure of blockchain technology is for the good of the society. Fascinated by the massive potential of cryptocurrencies and the technology behind them – blockchain – Joseph spent lots of his time learning more about the industry, becoming a polished expert writer in the sector. He covers any cryptocurrency and blockchain related content.

    [Alert] Use the author's self-conducted information at your own risk, do you own research, never invest more than you are willing to lose.

    [Disclosure] The published news and content on BitcoinExchangeGuide should never be used or taken as financial investment advice. Understand trading cryptocurrencies is a very high-risk activity which can result in significant losses. Editorial Policy \\ Investment Disclaimer


    Please enter your comment!
    Please enter your name here


    Live Bitcoin Price & Latest BTC Chart News

    Today's Latest Crypto News

    Open Interest on CME Bitcoin Futures Outgrowing BTC Price

    If BTC closes above the 200-day moving average, just above $9,000, we could see $10k Institutional investors leading the way for a new...

    Here’s How DeFi’s Smashing Growth Puts a Trillion-Dollar Case for Ethereum

    Total USD value locked in DeFi surpasses $800 million creates “a new paradigm for global finance” with one common theme Ether The trillion-dollar...

    This Uncannily Accurate Bitcoin Chart from Dec. 2018 Predicts a New ATH in 2020/21

    Analyst ‘s post from Dec. 2, 2018, correctly predicts Bitcoin’s bottom and momentum in 2019 Bitcoin price is currently hovering around $9,000 after surging...

    Lawmaker Proposes Bill For State-Chartered Institution For Blockchain & Crypto Innovations

    An Oklahoma lawmaker has come forward with the proposition of creating a financial institution chartered by the state and that functions as a central...

    Block.One's ‘Voice' Social Network Has An Open Door Policy To Other Blockchains, Not Just EOS

    During its June ICO, had indicated that its Facebook rivaling social network dubbed Voice, would be launched on the EOS network. However, plans...

    BitcoinExchangeGuide is a hyper-active daily crypto news portal with care in cultivating the cryptocurrency culture with community contributors who help rewrite the bold future of blockchain finance. Subscribe on Google News, see the mission, authors, editorial links policy, investment disclaimer, privacy policy. Got News? Contact us, we are human too. Note: nothing here is financial advice, do your own research thoroughly.