Australian Securities Exchange promotes blockchain settlement system

For almost three years, the Australian Securities Exchange (ASX) has been working with Digital Asset (DA) to replace its clearing system called CHESS. In yesterday’s results announcement, CEO Dominic Stevens revealed more details about the Distributed Ledger Technology (DLT) project.

Benefits of new CHESS system

The new system moves away from every participant sending messages to a centralized CHESS system. Instead, participants have the option to operate their own node or server, which will contain the same data as all the other nodes. Hence there is a shared source of truth.

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