The Australian Securities Exchange announced some time ago that it would replace its current system, known as the Clearing House Electronic Subregister System (CHESS), with new blockchain technology, the technology best known for underpinning the bitcoin cryptocurrency. The change will result in the Australian Securities Exchange being one of the biggest mainstream financial markets to use the relatively new ledger system. In a statement released overnight, the ASX has delayed its switchover to blockchain technology by six months to devote more time for user development and testing. Further details are expected to be released as to why the delay is occurring and when an expected release day will be scheduled.
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