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Australia is now home to the world’s first blockchain-based stock exchange
The Australian Securities Exchange (ASX) said today (Dec. 7) that it would use blockchain to clear and settle trades, becoming the world’s first mainstream equity market to employ the technology behind bitcoin for its core services. The ASX will replace its decades-old settlement and clearing system known as the Clearing House Electronic Subregister System (CHESS) with blockchain technology to reduce costs for customers by the end of next March, the exchange said. In January 2016, the ASX announced that it enlisted US-based blockchain startup Digital Asset Holdings to develop a new system for clearing and settling ... (full story)