ASX blockchain go-live delayed for fourth time. Sure enough, the Australian Securities Exchange (ASX) recently announced another delay to the project. It must be said that this delay was attributed to the firm responsible for the development of this ambitious project.
A delay in the execution of the project to switch to blockchain technology
The Australian Securities Exchange is once again delayed in its plans to move to blockchain technology. The project was postponed beyond April 2023. It must be said that initially, the commissioning of the blockchain was scheduled for April 2021. But, since then, the project’s due date has been postponed three times. Note that the blockchain commissioning project would have cost ASX more than $187 million.
The ASX happens to have been using the Clearing House Electronic Sub-Register System (CHESS) since its incorporation in 1987. After 30 years, the exchange realized it needed to move to the new on-chain technology. of blocks: the blockchain. Note that this company has a market cap of over $751 billion. To this end, it is placed in the top 15 of the most highly rated exchanges.
Meanwhile, ASX Group executive Tim Hogben said other plans are in the works. In particular, he indicated that the integration of customers into the ITE2 environment will be launched on April 27. According to him, it will be aphased approachto ensure proper operation of the ASX platform.
Furthermore, he added:We recognize the impact these changes will have on our customers’ programming activities and apologize for any inconvenience caused.“. He then underlined that the Australian Securities Exchange is actively working with stakeholders to avoid another delay and ensure that the new schedules are strictly followed.
According to ASX, the company in charge of the project would be solely responsible for the delay
The Australian Securities Exchange blamed the delay in going live for its Blockchain on digital-asset. Digital Asset happens to be the company responsible for the project to build a new version of CHESS. Concretely, according to the ASX, the next version of the CHESS software will not be ready before July, whereas it was planned for the end of April, because of Digital Asset.
Due to the software delay, the exchange said the accreditation start schedule will vary. Thus, some accreditations will take place in July and others not before August. Additionally, the next version of the software is expected to incorporate the next iteration of non-functional tweaks to the application as well as code fixes. The software will also have a system for suppliers to be accredited.
The Australian Securities Exchange (ASX) blockchain go-live is delayed for the fourth time. The exchange announced that this other delay of the project must be blamed on the firm responsible for its development, Digital Asset.
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Luc Jose Adjinacou
Far from having dampened my enthusiasm, an unsuccessful investment in 2017 on a few cryptos only increased my enthusiasm. I therefore resolved to study and understand the blockchain and its many uses and to relay with my pen information relating to this ecosystem.
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ASX has announced for the umpteenth time that its blockchain will go live late
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