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Australia’s ASE scraps blockchain project despite $170M investment

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The Australian Securities Exchange has announced that it will no longer be going forward with its much-anticipated CHESS replacement project. The project sought to replace the exchange’s 25 year-old Clearing House Electronic Subregister System (CHESS), which is primarily used to manage transactions and keep track of shareholdings. 5 years in the making The plan, which […]

that it will no longer be going forward with its much-anticipated CHESS replacement project.

According to Accenture’s report, the identified issues were divided among 3 main categories, namely, Application Readiness, Solution Complexity, and Project Governance.

 

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