ASX will use blockchain to process equity transactions

 ASX Ltd. will use blockchain (ledger technology) to process equity transactions.

ASX Ltd. is the first exchange using blockchain, which is massively hyped. Furthermore, some banks have conducted myriad tests of blockchain technology, with few live deployments. Blockchain technology is a more efficient and less expensive way to track trades.

ASX said that there are moving to the blockchain, and it could also be beneficial for Australia’s securities regulator.

ASX didn’t announce when they will start using blockchain technology, but this ledger technology will let customer’s lower costs and introduce new services from the real-time post-trade data.

ASX said that blockchain technology would have a “marginal cost” that will be part of the company’s capital expenditure program.

The costs of this blockchain-based system are similar to a traditional system.

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