Aussie stock exchange abandons blockchain plans, leaving $170M hole

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The long-anticipated plans by the Australian Securities Exchange (ASX) to use blockchain to bring its clearing and settlements system into the 21st century have just been canceled.

In a Nov. 17 statement, ASX announced it had paused all current activities of its “CHESS replacement project” following an independent review from technology consulting firm Accenture (NYSE:ACN), which identified “significant challenges with the solution design and its ability to meet ASX’s requirements,” stating:

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