ASX first to use blockchain for share trading

The Australian Stock Exchange (ASX) will be the first to use a blockchain-based system to record who owns shares of listed companies, and to keep track of transactions and settlements when people buy and sell shares. The ASX’s blockchain will greatly simplify this process. Instead of having to reconcile trades against a centralised database, the verification of ownership and settling of accounts can be done directly between participants (as is done with Bitcoin trades). This is much simpler, faster and more secure. A startup, Digital Asset Holdings, will supply the technology. www.asx.com.au/documents/asx-news/ASX-Selects-DLT-to-Replace-CHESS-Media-Release-7December2017.pdf?

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