It’s not just Bitcoin making waves with its phenomenal price surges and futures contracts. Blockchain, which is actually the underlying technology for Bitcoin and other cryptocurrencies, has taken another step on its road to global adoption. Australian Securities Exchange (ASX), the country’s main stock exchange, announced on Thursday that they will be using blockchain technology to process equity transactions.
This is a groundbreaking move, a sentiment echoed by ASX deputy chief executive, Peter Hiom: “We're the first exchange to consider taking this step.” Blockchain has become one of the major buzz words in range of industries, not just in crypto. This distributed ledger offers users a secure and cost-effective way to store records and transactions. These records cannot be changed or deleted.
Because of this, it is seen as a great tool for banks and financial institutions. However, it can be used in many different industries.
Read more of this here...While I am a big fan of Bitcoin as the cryptocurrency for the blockchain technology, we all know that this technology has so many uses and can soon be impacting our daily lives in almost all countries and territories worldwide. The blockchain technology can be utilized by almost all industries we can think of. Such is the inherent power of the technology which Satoshi Nakamoto gifted to the humankind. I am now thinking: Would it be possible that Satoshi Nakamoto can be granted the Nobel Prize award for his contributions to the human race? Congratulations to the ASX for the wise decision of utilizing the many innovations and benefits of the blockchain platform.
