The Australian Stock Exchange just confirmed what many believed could be a hot topic in the future of blockchain in the country. According to a recent report by Bloomberg which is in the latest blockchain news today, the blockchain settlements are coming to Australia in 2021.
The Australian Stock Exchange (ASX) has subscribed to the Clearing House Electronic Subregister System (CHESS) over the years but is now looking forward to replacing it with a more novel and innovative blockchain – as well as one that adopts a digitized, decentralized and distributed technology.
This massive overhaul is one part of the upgrade that the ASX has planned – and which the deputy chief executive officer Peter Hiom described as revolutionary in order to deviate from the norm.
CHESS is right now still used to facilitate the legal ownership from sellers to buyers, as well as to process monetary transactions involving the two parties. The innovation has yielded great efficiency over the years.
In a recent interview, Hiom said:
“We’re not entering the fourth dimension here. It’s a database that lets you do a bunch of things more efficiently than you can do at the moment.”
The application of blockchain will provide the required backup ensuring that every bit of data is kept up to date and synchronized in such a way that removes any inconsistency. When asked about this, Hiom stated:
“There is a blockchain that is synchronizing my data store with yours, but the data store itself is a database that exists today. The innovation is the decentralized ledger that lets a client see ASX’s data. It’s taken an awful lot of risk and cost out of your back office because it is never the case that what you’ve got doesn’t match what I’ve got.”
Even though the officials at ASX are not making a lot of fuss regarding this recent blockchain upgrade, there is a big number of other organizations who see this development as a pretty big deal. ASX, on the other hand, sees it as an improvement – but not necessarily a feat.
“It’s a very clever architecture, but it is just a database architecture. It doesn’t sound very sexy when you say it that way, but that’s kind of what it is,” Hiom concluded.
Bollywood Actors Involved In ‘’Cashcoin’’ $14 Million Crypto Scam
“I will be in Surat on January 5, 2017, for promoting Cashcoin. As we all know that the future belongs to the cashless trend, we also know how much important role cryptocurrencies would play. So, we’ll meet at the event to know more about Cashcoin.”The police believe Khan received a lot of money for promoting the scam. If the police prove they are right, Khan could face compensation for the investors’ losses and could potentially go to prison for charges of fraud, criminal conspiracy and breach of trust. Shahbaz Khan’s involvement in crypto scams is not the first in the Bollywood world. Before him, there were actors such as Shilpa Shetty and Zarine Khan who promoted other scam crypto projects. In cases such as this one, the police commissioner said:
“These people have been brand ambassadors for this company, endorsing their products and going for their meetings. We came to know they have received huge remuneration and traveled abroad with the company representatives. This is a serious offense.’’Other Bollywood actors who got involved in a crypto scam include Vivek Oberoi who is set to play the key role in Prime Minister Narendra Modi’s biopic, also was involved into taking bribes for promoting political parties in India by accepting cryptocurrency as payments.
Not So Popular: Justin Sun Apparently Has Fake Twitter Followers
“Those followers are as authentic as Jussie Smollet’s beatdown story.”Another commenter believed that getting the police and the Federal Bureau of Investigation involved is the right thing to do in order to bring truth to the crypto community. Justin Sun is believed to be a master at marketing and this is one of the reasons the crypto community can be happy about since his strategies seem to work on investors, dapp users and crypto exchange owners. It’s not a foul play but it sure is very close to the line that you should not cross.
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Binance Announces Major Changes To Launchpad Token Sale Format
“Other market participants may view this as an opportunity, and countertrade to even out the fluctuations.”The Binance Launchpad is the company’s token launch platform, as the name says, and in most recent times it has concluded a $4 million sale of the Celer Network (CELR) token seven days ago. The platform also conducted the Fetch.AI (FET) token sale and was able to raise about $6 million in just 20 seconds back in February. As previously reported, multiple changes were done to the Binance Application Programming Interface that shows how the company is working hard on implementing margin trading. A week ago, LBank and Bit-Z both of which are exchanges, overtook Binance on the adjusted trade volume according to the rankings on CoinMarketCap but the newly found reports show that most of their volume is fake.
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