How ASX’s blockchain will change finance

Developers are planning on using the ASX’s blockchain to bring registries in-house, automate proxy voting and mutualise KYC.

Technological change is unsettling for incumbents making big profits from the status quo. In the case of financial markets, managing complex processes which often involve messy information has been a great business for intermediaries like the big share registries.

So could the renewed lobbying push by Computershare, Link Market Services and other various industry groups for more oversight of ASX’s blockchain project be more about their concerns over getting disrupted by emerging technology than it is about ASX expanding its CHESS clearing system replacement project?

Read full article here on the Australian Financial Review.