ASX abandons its blockchain project: "They were building a Frankenstein"
Elmer Funke Kupper’s intentions were good when he invested ASX in blockchain in 2016. But a series of compromises meant the promise was never realised.
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Elmer Funke Kupper’s intentions were good when he invested ASX in blockchain in 2016. But a series of compromises meant the promise was never realised.
The Australian Securities Exchange has not provided a new deadline for when the CHESS replacement project will go live, casting doubt over the future of the project.
ASX confirmed the Financial Review’s report on Monday that the blockchain project would be delayed again due to a slower-than-expected software upgrade.
ASX CEO Dominic Stevens will depart the exchange after a challenging period and the year before it is due to switch on a new clearing and settlement system.
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