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#Sydney #StockExchange builds public #blockchain

'The recently established #Sydney #StockExchange (SSX) is working on a #blockchain settlement system that will be promoted as a low-cost alternative to the #Australian #SecuritiesExchange (ASX).

SSX, formerly known as the #AsiaPacificStockExchange, belongs to the businessman George Wang, reports Sydney Morning Herald. It is only two years old and has only three stocks listed. However, its low profile can be explained by the monopoly of clearing and settlement that ASX held until 30 March 2016 when the government of Australia dеcidеd to open the way for competition.' According to Coinfox.....

Loretta Joseph, SSX's chief consultant on the blockchain project said,

“The banks are effectively trying to build an intranet. If we put a control around who could come into [the Internet] and who can't, we wouldn't have the Internet today.”

The system which is expected to be completed by early 2018 plans to sell the #blockchainsolution to other exchanges according to Mr Lawrence who sated "we fully intend to make it available to other markets, and have an open access philosophy"

Read Full Article@coinfox>>

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