The blockchain-based system will come to replace the old Chess post-trade settlement system currently used by the Australian Securities Exchange (ASX). The financial technology is planned to go live at approximately the end of 2020 or the beginning of 2021.
The ASX will use a new distributed ledger technology (DLT) to manage the Australian financial market. According to the consultation paper published by the ASX, Digital Asset, a famous New York-based fintech company building DLT products, will become the main performer of the initiative. Furthermore, the project will introduce 50 new features, which are seen as a stimulating factor for reducing costs.
Read the details in the article of Coinidol dot com, the world blockchain news outlet: https://coinidol.com/asx-to-start-using-blockchain-tech-in-2020/