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