ASX axes blockchain project, writes off A$250m
Stock exchange operator concludes Chess replacement software would not have worked.
ASX has been working on a system to replace Chess since 2015.
Australian stock exchange operator ASX has axed its five-year programme to develop blockchain-based software to replace its core Chess post-trade system and written off A$250 million ($275m) spent on the scheme so far.
In a statement, ASX said a report from Accenture had identified “significant
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