ASX Puts Off Blockchain Settlement System Launch

September 5, 2018

One of the exchanges focused on securities trading in Australia, АSХ, has voiced its plans to alter the launch date for its blockchain network to spring 2021. The project based on distributed ledger is to replace Australia’ settlement system “СНЕSS” that has long been used in the country. The project was earlier planned to be started by 2021.

As the exchange spokesmen told, for now the company has received around 50 messages from individuals and companies in interest including clearing parties, market operators and payment providers.

The dev team has analyzed through all aspects of the project and came to conclusion that the launch must take place not before 2021. In addition, the test period as well as its beta-version will also be extended for 6 months.

As the project team has reported, this distributed ledger system will feature about seven functions, some of them being added soon and some integrated later. Those mentioned include operations with foreign fiat and report function for account balance information.

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