7

Australian Stock Exchange Says Software Overhaul Will No Longer Involve Blockcha...

 1 year ago
source link: https://tech.slashdot.org/story/23/05/19/2134222/australian-stock-exchange-says-software-overhaul-will-no-longer-involve-blockchain
Go to the source link to view the article. You can view the picture content, updated content and better typesetting reading experience. If the link is broken, please click the button below to view the snapshot at that time.
neoserver,ios ssh client

Australian Stock Exchange Says Software Overhaul Will No Longer Involve Blockchain

Follow Slashdot stories on Twitter

binspamdupenotthebestofftopicslownewsdaystalestupid freshfunnyinsightfulinterestingmaybe offtopicflamebaittrollredundantoverrated insightfulinterestinginformativefunnyunderrated descriptive typodupeerror

Do you develop on GitHub? You can keep using GitHub but automatically sync your GitHub releases to SourceForge quickly and easily with this tool so your projects have a backup location, and get your project in front of SourceForge's nearly 30 million monthly users. It takes less than a minute. Get new users downloading your project releases today!

Sign up for the Slashdot newsletter! or check out the new Slashdot job board to browse remote jobs or jobs in your area
×
Australia's stock market operator, ASX Ltd, has announced that it will no longer pursue the rebuilding of its software platform using blockchain technology. The decision comes after an external review found that the project would require significant rework, and ASX stated that it will explore more conventional technology options to achieve its business goals. Reuters reports: ASX frustrated market participants in November by "pausing" a rebuild of its all-in-one trading, settlement and clearing software based on the decentralized computing concept, after an external review found it had to be largely reworked after seven years of development. The company has since said it is considering options for another attempt at the rebuild of the 30-year-old software, but at a meeting with participants this week it said it would not involve blockchain or related "distributed ledger technology" (DLT).

Asked if the next attempt would "go down the more conventional route, that is without the focus on DLT (or) blockchain," exchange project director Tim Whiteley told the meeting that "while we continue to explore all the options, certainly we will need to use a more conventional technology than in the original solution in order to achieve the business outcomes." The statement signals the end of what was to be one of the world's most prominent use cases of the concept that promises to accelerate online transactions by processing them securely in multiple locations.

Until now, ASX has said it may resurrect the project using blockchain-based technology developed by New York-based contractor Digital Asset. It has said it will announce a new strategy for the project by year-end. Whiteley told the meeting ASX was on track to decide a new strategy by year-end. It sent a request for information to potential software vendors and "issued an RFP to a number of vendors who responded more positively ... for more detailed feedback," he said, using the acronym for a request for proposal. Market participants had told ASX they did not want a risky, single-date changeover to new software, and "that feedback has been taken into the implementation planning," Whiteley said.

Do you have a GitHub project? Now you can sync your releases automatically with SourceForge and take advantage of both platforms.
Do you have a GitHub project? Now you can automatically sync your releases to SourceForge & take advantage of both platforms. The GitHub Import Tool allows you to quickly & easily import your GitHub project repos, releases, issues, & wiki to SourceForge with a few clicks. Then your future releases will be synced to SourceForge automatically. Your project will reach over 35 million more people per month and you’ll get detailed download statistics.
Sync Now


report

Recommend

About Joyk


Aggregate valuable and interesting links.
Joyk means Joy of geeK