by softveda on 11/17/22, 12:23 AM with 3 comments
by softveda on 11/17/22, 6:20 AM
The promise was there:
"In an ideal world, blockchain might compress that T+2 settlement time to real time by allowing payments and ownership records to move simultaneously. A lot of the reconciliation and administrative processes taking place all day in broker and investor offices could be streamlined if everyone knew everything about an equity simultaneously."
But it seems part of the problem is vested interests and not technical.
"At the heart of ASX’s spectacular failure was the unsettling nature of innovation to all those market intermediaries: what the ASX saw as potential savings, registries and other companies profiting handsomely from clipping the tickets on trading and company actions saw as an attack on their revenue bases. Australian investors pay about $1 billion each year for registry services."
by nmfisher on 11/17/22, 2:23 AM
Nope, looks like I was right all along.
by softveda on 11/17/22, 12:23 AM