Broken chains: how DLT code switch compounded ASX fail

Vendors deemed to suffer most in fallout from “paused” blockchain settlement project

November was a bad month for blockchain, even in Australia.

Days after FTX imploded in the US, consultancy Accenture delivered its review of an attempt by ASX to replace the Chess equity settlement system with one based on blockchain provided by Digital Asset. The verdict was damning enough for the project to be “paused” to “revisit the design solution” and DA’s software “derecognised” at a cost of around A$250 million (US$168.3 million).

And Accenture didn’t even get the full story, according

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