The timing is almost perfect for the Australian Securities Exchange (ASX) to consider a blockchain-powered settlement system, says its CEO, Elmer Funke Kupper.
In October, Australia’s main exchanges operator was reported to be considering the replacement of its current settlement and clearing system with one based on blockchain technology.
Bitcoin’s blockchain and other distributed ledger systems inspired by it are now being explored by a majority of the world’s major financial institutions and several exchange operators. The technology is envisioned to streamline the trading process by enabling real-time settlement, thereby reducing costs, cutting out counterparty risk and freeing capital.
http://www.financemagnates.com/cryptocurrency/news/report-asx-to-make-blockchain-decision-in-6-7-months/
