Australia's ASX invests in blockchain to simplify markets


  • TECH
  • Friday, 22 Jan 2016

Data integrity: ASX will use Blockchain technology to ensure transaction data cannot be tampered with.

Markets operator ASX Ltd said it has made a minority investment in US-based Digital Asset Holdings to develop distributed ledger technology, or blockchain, to potentially simplify Australia’s post-trade equity market.

Blockchain technology, pioneered by Bitcoin, maintains a continuously growing list of transaction data which cannot be tampered with or revised.

ASX paid A$14.9mil (RM45.32mil) for a 5% equity interest in Digital Asset along with funding an initial phase of development and acquiring a warrant that will give it the right to purchase further equity and appoint a director to the board.

ASX will work with Digital Asset to design a new post-trade solution for the Australian equity market, it said in a statement.

Over the past year, interest in blockchain technology has grown rapidly. It has already attracted significant investment from many major banks, which reckon it could save them money by making their operations faster, more efficient and more transparent. —  Reuters
Article type: metered
User Type: anonymous web
User Status:
Campaign ID: 1
Cxense type: free
User access status: 3
   

Next In Tech News

Yes investigating damaged phone battery incident
Hopin targets hybrid, in-person events with Boomset buy
Vodafone, Amazon partner to launch 'edge computing' in UK
German battery sales rise on demand for electric cars - ZVEI
Security flaw found in 2G mobile data encryption standard
IT players welcome Recovery Plan; want support services to be allowed immediately
Scammers targeting people in S’pore weave Covid-19 vaccines, MOH into their false narratives
R-Zero, startup automating disinfecting born during pandemic raises $41.5 million
Kuaishou expands aggressively in Brazil, South-East Asia to challenge TikTok
MacKenzie Scott donates US$2.7bil, blasts wealth gap

Stories You'll Enjoy


Vouchers