Stellar Lumens (XLM) Forum with for newcomers and contributor's rewarded Check here

Sydney Stock Exchange Public Blockchain Sees Successful Prototype
  • 11 Vote(s) - 2.91 Average
  • 1
  • 2
  • 3
  • 4
  • 5

[Image: Sydney-bridge-768x506.jpg]

The Sydney Stock Exchange (SSX) has successfully prototyped its open blockchain ledger for real-time issuance and allocation of equity security, within a month after confirming the project.

Following its mid-September confirmation that it is pressing ahead to build an open, public blockchain platform that will reduce settlement times of trades and equities, the Sydney Stock Exchange has now tested its prototype blockchain ledger successfully.

The announcement came via the APX Settlement Private Limited (APXS), a joint venture between the SSX and blockchain consultant Bit Trade Labs to develop the public ledger.

The APXS underlined its preference for an open blockchain platform, unlike the approach taken by competitor ASX – the Australian Securities Exchange.

Loretta Joseph, SSX director of market development has previously stated:

Quote:The banks [and the ASX] are effectively trying to build an intranet. If we put a control around who would come into [the internet] and who can’t, we wouldn’t have the internet today.

Opting for a collaborative approach with other participants from the industry, the APXS also sees its public blockchain solution leverage beyond the securities market to scale the commodities market. Such an effort, it says, would help government and other participating industries to change markets that are weighed down by antiquated technologies.

APXS CEO David Lawrence revealed the scope of the public blockchain endeavour. In a statement, he said:

Quote:We are working with government, regulators, the Australian Digital Currency and Commerce Association (ADCCA) and our expanding group of industry partners to deliver innovative solutions using new technologies.

Following the successful testing of its prototype, the joint venture is now determining the required infrastructure for the development of the blockchain solution’s production environment. Furthermore, it is collaborating with industry assurance and cybersecurity experts to ensure it matches verification requirements to avoid systemic risks.

SSX’s development of its ledger was accelerated following recent changes to Australian Clearing Competition laws, that now further encourages competition in the industry. While the project was in development for over a year, the SSX first revealed its intention to implement an open blockchain solution to enable any company or trader with the innovation, in May 2016.

Possibly Related Threads...
Thread Author Replies Views Last Post
  How to Run a Successful Security Token Offering in Compliance with New SEC Guidance crytocure 0 40 13-07-2019, 03:18 PM
Last Post: crytocure
  Amazon Tackles Centralized And Decentralized Blockchain Solutions crytocure 0 44 12-07-2019, 10:40 AM
Last Post: crytocure
  Crypto and Blockchain in Higher Education crytocure 0 69 11-07-2019, 10:30 AM
Last Post: crytocure
  IBM Blockchain Co-Founder ‘Bought Some Chainlink,’ Tinkering With Oracle Service crytocure 0 44 09-07-2019, 02:32 PM
Last Post: crytocure
  Blockchain and AI Bond, Explained crytocure 0 65 06-07-2019, 03:48 PM
Last Post: crytocure
  Launching a Blockchain App? Hire These Top Companies For Your Next Project crytocure 0 47 05-07-2019, 02:44 PM
Last Post: crytocure
  Blockchain To Be Used By IBM To Streamline Bank Guarantee Process crytocure 0 61 04-07-2019, 12:20 PM
Last Post: crytocure
  Blockchain technology ‘not suitable for payments,’ says Bank for International crytocure 0 78 01-07-2019, 02:31 PM
Last Post: crytocure
  Discovering Insuretech: Blockchain Disruption of the Insurance Sector crytocure 0 59 30-06-2019, 02:35 PM
Last Post: crytocure
  Retail Blockchain Deep Dive: Payments crytocure 0 91 28-06-2019, 01:25 PM
Last Post: crytocure

Users browsing this thread: 1 Guest(s)