Today Australian stock exchange ASX unveiled the first iteration of its Industry Test Environment (ITE1) for its blockchain post-trade solution CHESS. It’s not the first time that software providers and in-house developers get a look at the system. But previous access had more limited functionality and was for low volume testing.
The solution uses Digital Asset’s DAML smart contract language and VMWare’s Blockchain. While today’s announcement is for developers, end users will access another iteration of the test environment from April 2022, with an April 2023 planned launch date.
The Australian exchange was a clear first mover when it comes to using blockchain in the sector. And as a result, it’s had its fair share of ups and downs. Several market players, especially share registrars and competing exchange Chi-X, opposed the blockchain system on competition grounds. One of the reasons for the latest delayed launch date was to appease the registrars.
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