CryptoMediaClub
Tuesday, October 28, 2025
  • All news
  • Bitcoin
  • Ethereum
  • Altcoins
  • NFT
  • Blockchain
  • Analysis
No Result
View All Result
  • All news
  • Bitcoin
  • Ethereum
  • Altcoins
  • NFT
  • Blockchain
  • Analysis
No Result
View All Result
CryptoMediaClub
No Result
View All Result
Home Blockchain

Australian Securities Exchange Drops Blockchain Adoption Plans

19.05.2023
A A
0
128
VIEWS
ShareShare

Australian Securities Exchange Drops Blockchain Adoption Plans

  • After seven years of development, a thorough overhaul is required.
  • Project Director stated it would probably have to resort to traditional technological methods.

In a major rebuke of the once-lauded idea that rose to popularity with cryptocurrencies. The operator of Australia’s stock exchange has abandoned plans to replace its software infrastructure using blockchain technology.

The decision by the Australian Securities Exchange (ASX) to “pause” the rebuild of its complete trading, settlement, and clearing software based on decentralized computing in November 2022 angered market players.

After seven years of development, a thorough overhaul is required, according to an outside evaluation. Moreover, after a brief hiatus, the firm has signaled that it is considering different approaches to rebuilding the 30-year-old program.

Eyeing Traditional Technological Methods

The business reportedly told attendees at a May 17 meeting that blockchain or similar distributed ledger technology (DLT) will not be used.

Moreover, in response to a question regarding the next effort. Project director Tim Whiteley said at the meeting that although the exchange is looking into all of its possibilities. It would probably have to resort to more traditional technological methods in order to get the necessary commercial results.

The announcement marks the completion of a project that was meant to be a leading example of a concept for speeding up online transactions via safe processing across numerous locations.

With the help of New York-based contractor Digital Asset. ASX was planning to become the first securities exchange to implement blockchain technology into the functioning of its core services. After engaging Digital Asset to rewrite its software in 2016, ASX decided to invest in the company by purchasing a minor share.

Whiteley shared with attendees that ASX was making headway towards finalizing a new strategy before year’s end. He said that in order to receive more thorough input, the business has sent out RFIs to prospective software providers and RFPs to interested parties.

Recommended For You:

Binance Australia Faces Scrutiny Amid Allegations of Crypto Scams and Frauds

Share10Tweet6ShareSharePin2

Related Posts

Ondo Finance Unleashes Revolutionary Tokenized US Treasuries on Sei
Blockchain

Ondo Finance Unleashes Revolutionary Tokenized US Treasuries on Sei

18.07.2025
0

Skip to content

Read moreDetails
Hashed stablecoin: South Korea’s Crypto Giant Unveils Bold Trademark Play

Hashed stablecoin: South Korea’s Crypto Giant Unveils Bold Trademark Play

17.07.2025
LA Token’s Strategic Move: Lagrange Foundation Considers Crucial Buyback for Price Stability

LA Token’s Strategic Move: Lagrange Foundation Considers Crucial Buyback for Price Stability

14.07.2025
Shocking Loss: Crypto Influencer Accidentally Burns $75K in PUMP Token

Shocking Loss: Crypto Influencer Accidentally Burns $75K in PUMP Token

14.07.2025
Dubai’s Historic Approval: Qatar National Bank Launches Revolutionary Tokenized Money Market Fund in DIFC

Dubai’s Historic Approval: Qatar National Bank Launches Revolutionary Tokenized Money Market Fund in DIFC

08.07.2025
Load More
Next Post
Tether Joins Bitcoin Buying Spree to Enhance Stability and Growth Potential 

Tether Joins Bitcoin Buying Spree to Enhance Stability and Growth Potential 

0 0 votes
Рейтинг статьи
Subscribe
Notify of
guest
guest
0 комментариев
Oldest
Newest Most Voted
Inline Feedbacks
View all comments

Recommended

World Mobile Eyes Expansion After Successful Field Testing of Decentralized Wireless Network in Africa

World Mobile Eyes Expansion After Successful Field Testing of Decentralized Wireless Network in Africa

2 years ago
ETH Price May Hit $5K or Crash to $3K | September Market Report

ETH Price May Hit $5K or Crash to $3K | September Market Report

2 months ago
Worldcoin Reportedly ‘Flouting Brazil Ban,’ However Escapes Habeas Corpus Hassle

Worldcoin Reportedly ‘Flouting Brazil Ban,’ However Escapes Habeas Corpus Hassle

9 months ago
Trump Vows To Make US Global Leader In Crypto World, Announced New NFT Release

Trump Vows To Make US Global Leader In Crypto World, Announced New NFT Release

1 year ago

Categories

  • All news
  • Altcoins
  • Analysis
  • Bitcoin
  • Blockchain
  • Ethereum
  • NFT
No Result
View All Result

Highlights

Bullish Crypto to Buy Today, October 27 – Pi, XRP, Virtuals

Former SBF Jailmate Sean ‘Diddy’ Combs Release Date Unveiled

ChatGPT’s XRP Analysis: XRP ETF Breaks $100M and Garlinghouse Eyes Trump Crypto Board

Crypto’s week ahead: Everything you need to know to close out October

DOGE Price Prediction: Dogecoin Price Up 43% YoY As DOGE Breaks Resistance – Is $0.5 Coming in November 2025?

Q3 2025: Bitcoin Surged to ATH But With ‘Notable Laggard’ as Ethereum Led the Quarter

Trending

US Representative Pushes Crypto Ban for Politicians After Trump Pardons Binance’s CZ
All news

US Representative Pushes Crypto Ban for Politicians After Trump Pardons Binance’s CZ

28.10.2025
0

US Representative Ro Khanna (D-Calif.) is proposing new legislation to prohibit elected officials from owning or launching...

[LIVE] Crypto News Today: Latest Updates for Oct. 28, 2025 – Layer 2 Sector Tanks 4.4%, ETH Slips to $4K, BTC Below $114K

[LIVE] Crypto News Today: Latest Updates for Oct. 28, 2025 – Layer 2 Sector Tanks 4.4%, ETH Slips to $4K, BTC Below $114K

28.10.2025
China’s DeepSeek AI Predicts the Price of SOL, XRP, BNB by the End of October 2025

China’s DeepSeek AI Predicts the Price of SOL, XRP, BNB by the End of October 2025

28.10.2025
Bullish Crypto to Buy Today, October 27 – Pi, XRP, Virtuals

Bullish Crypto to Buy Today, October 27 – Pi, XRP, Virtuals

28.10.2025
Former SBF Jailmate Sean ‘Diddy’ Combs Release Date Unveiled

Former SBF Jailmate Sean ‘Diddy’ Combs Release Date Unveiled

28.10.2025
  • All news
  • Altcoins
  • Bitcoin
  • Blockchain
  • Ethereum
  • NFT
  • Analysis
Editor: cryptomediaclub.com@gmail.com
Advertising: digestmediaholding@gmail.com

Disclaimer: Information found on CryptoMediaClub is those of writers quoted. It does not represent the opinions of CryptoMediaClub on whether to sell, buy or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk.
CryptoMediaClub covers fintech, blockchain and Bitcoin bringing you the latest crypto news and analyses on the future of money.

© 2023 Crypto News. All Rights Reserved

No Result
View All Result
  • All news
  • Bitcoin
  • Ethereum
  • Altcoins
  • NFT
  • Blockchain
  • Analysis

Disclaimer: Information found on CryptoMediaClub is those of writers quoted. It does not represent the opinions of CryptoMediaClub on whether to sell, buy or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk.
CryptoMediaClub covers fintech, blockchain and Bitcoin bringing you the latest crypto news and analyses on the future of money.

© 2023 Crypto News. All Rights Reserved

wpDiscuz