And here's why... GUIDING PRINCIPLES FOR THE REPLACEMENT OF CHESS
Operate for the benefit of issuers and end investors
Provide issuers and end investors with greater control over, and enhanced confidence in, their market activities through timely, secure and simplified access to the register of holders (for issuers), financial assets (end investors) and associated information. Take future needs into account
Meet and respond to changing local and global markets, and promote further innovation through new levels of functionality, open standards and flexible technology. Accessibility
Be readily available to those who are authorised to use it in a non-discriminatory manner. Ease of integration and global interoperability
Ensure capacity to integrate with upstream and downstream business systems, and embrace global standards and openness to competition through interoperability in a cost-efficient way. Availability, reliability and performance
Provide users and regulators with confidence that the solution will be available and transactions performed as and when expected. Privacy and security
Provide users with confidence that the system is traceable and secure, and that it won't expose them to new risks as a result of information being fraudulently obtained or corrupted. Operational efficiencies
Streamline functions and workflows, remove embedded paper-based processes and mitigate manual errors, and be effective and cost-efficient to operate, support and enhance. Compliant
Comply with relevant laws, regulations and licences relating to the operating entities.
Australia’s equity market the ASX has decided to replace its CHESS system to record changes in shareholding with distributed ledger technology found in blockchain.
So these so called experts saying stuff like that is just BS and this is just one example!!
These so called financial experts are loaded because they've been able to dupe people for years... Its why we never learned much about the stockmarket when we were in school or even after... Those fund managers who want you to pay high fees for pay out maybe a return of 9%.. the banks even less at 3% or less.. These are the people that don't want this to work because their way of doing things has worked for them... just has worked for the rest of us.
Blockchain is part of crypto landscape but its transferrable to so many other fields and not necessarily attached to currencies!!
