Follow us on or join ours

Australian Stock Exchange - Australian Securities Exchange (ASX) officially announced the implementation of new technology-based solutions blockchain. It is highly probable that thanks to them the entire Australian stock market will become more efficient, transparent and above all safe.

Return to blockchain

Australian Securities Exchange has been looking for an effective solution for a long time to improve its billing system, focusing on on processes tokenizacjiAt the same time, it is one of the first Australian stock exchanges that turned to blockchain technology, which is much more efficient than traditional solutions.

The benefits blockchain can bring to ASX

As convincing Dominic Stevens, general director Australian Securities Exchange, blockchain can reduce the time of clearing and settlement.

In the case of the traditional method of their implementation, they may take up to one week. This is mainly due to the need to use multiple external verification systems.

While stokenizowane Resources can be billed within just a few hours because verification is not necessary. The new blockchain-based system will also support risk management and enable automation of many processes.

Security tokens  they are able to provide the desired liquidity, opening investors completely new possibilities. However, these are not the only benefits. It is also necessary to mention intelligent contracts that allow the integration of individual processes and regulatory requirements directly in the protocol token.

Also check: The leaders of the Security Token sector share their predictions for 2020

Partnership with Digital Asset

To develop a new, effective billing system, ASX has partnered with an American company Digital asset.  

She will be responsible for the design of the new blockchain platform and its operation. DA is a reputable provider of blockchain solutions, and it is worth adding that this is not the first time that its paths cross with AXS.

We would like to remind you that in 2019 the Australian Securities Exchange provided the company with USD 35 million in the C series financing round.

Testing the new platform as announced is expected to start in July this year, however, no detailed data on the implementation of the new system has yet been disclosed.

5/5 - (1 votes)

Tokeny.pl is a cryptocurrency site run by a crypto team of enthusiasts. The main area of ​​our interest are cryptocurrencies, tokens, personal tokens as well as blockchain technology. On the pages of our website we will present independent cryptocurrency reviews and interesting articles from the market. In addition, we present the current rates of all critics. The site also has a multi-functional cryptocurrency calculator as well as traditional currencies.

The information published on the cryptocurrency tokeny.pl website are not financial recommendations and do not constitute investment recommendations within the meaning of the Regulation of the Minister of Finance of 19 October 2005 on information being recommendations regarding financial instruments, their issuers or issuers (Journal of Laws of 2005, No. 206, item 1715). The information published on the pages of the portal does not constitute an offer. Tokeny.pl is not responsible for any decisions taken under the influence of data presented on the Website. Portal does not bear any responsibility for the possible use of information on the website.

Investments in OTC market instruments, including currency exchange rate (CFD) contracts, due to the use of the leverage mechanism, entail the possibility of incurring losses exceeding the value of the deposit. It is not possible to make a profit on transactions on OTC instruments, including currency exchange contracts (CFDs) without risking a loss, therefore contracts for exchange differences (CFDs) may not be suitable for all investors.

© Copyright 2019 Tokeny.pl

My Newsletter

Sign Up For Updates & Newsletters