Australia Stock Exchange Adopts Blockchain

The Australian Securities Exchange (ASX) will replace its current clearing system with blockchain technology.

Australia's chief stock market exchange will Adopt Blockchain as a means of settling trades according to ASX chief executive Dominic Stevens.

This will put Australia at the forefront of innovation in financial markets," said Stevens.

"After so much hype surrounding distributed ledger technology, today's announcement delivers the first meaningful proof that the technology can live up to its potential," chief executive of Digital Asset Holdings Blythe Masters said.

The value of the technology was not in question. It is perfect for many applications. The value of Bitcoin and some of the other crypto currencies is what's in question.

Mike "Mish" Shedlock

I've given up hope for the sanity and common sense of people. Peter Schiff did a great video summarizing that if Bitcoin hits the kinds of price where Mcafee doesn't have to eat his dick that it will be a Yuge transfer of wealth - if they can get out and back into cash.

Brings back memories of the "Great California Pyramid Scheme" of 1980. A lot of money was made, until the exit doors slammed shut. But, hey, today the alchemy of harnessing electrons to create free money is genius. Much more sophisticated than the schemes of the 80's when ledgers were kept on the back of a McDonalds wrapper.

So sophisticated, in fact, that gumnuts everywhere will adopt the technology for their currency systems. Free money, what's not to like?

This is what happens when dumb people have, barely, learned to pronounce words they are told make them sound smart.

I think you guys and maybe gals are jealous of the people who got in and are getting extremely wealthy. Envy and jealousy are the worst kind of emotions. Like I've been saying for over a year now, it's STILL NOT to late to get in, however, this window of opportunity will close eventually, so the sooner you do get in the better off you will be.