It looks like Digital Asset Holdings abandoned blockchain for...

It looks like Digital Asset Holdings abandoned blockchain for securities last year, they couldn't see the future in it, but ASX keeps pouring money into them and it. Meanwhile, ASX claimed to still be on track for 2021.... until today....now it's 2023.

"A grand plan to apply blockchain technology to the world of securities and trade settlement
appears to be stalling, with Digital Asset Holdings, one of its key proponents, switching its
focus to so-called “smart contracts”."

"Instead, DAH is ramping up its focus on smart contracts, which use similar code to that
used in automated transactions such as direct debits and standing orders. Any blockchain-enabled financial settlement system is likely to be highly dependent on smart contract
technology."

"In a surprise move, policymakers recently poured cold water on the capacity for blockchain
technology to revolutionise trade processing. Bundesbank president Jens Weidmann told a
symposium in May that tests run with Deutsche Börse, Germany’s largest exchange, had
shown the technology was sometimes slower and more expensive to use. “A real
breakthrough in application is missing so far,” he added"

https://www.ft.com/content/77bc7fd4-8903-11e9-97ea-05ac2431f453

Why exactly is the future of Australia's financial markets beholden to a US startup that has never delivered? They are now $300m into the $50 estimate on spend and projecting some 3 years late. That's not "derisking" as claimed by the AFR today, that's incompetence.

"*****Many firms around the street invested in Digital Assets Holdings as a hedge in case blockchain turned out to be a game changer.~JJL" - https://johnlothiannews.com/

Some serious questions should be asked IMO. Meanwhile, ASX was on a serious mission to establish what Isignthis knew of trading platforms and blockchain last year, through their inquisition style query letters. This alone should have raised serious concern as the CEO of Isignthis has raised numerous times.

Why didn't the ASX look locally?

Why hasn't it engaged with CHi-X and NSX to adopt a cross-industry platform? Even the likes of Computershare and Link both were jumping up and down and the ASX for several years failed to listen. Have a good read here - https://www.computershare.com/News/Computershare's%20submission%20to%20ASX%20on%20CHESS%20replacement_GCM.pdf

Why hasn't the government stepped in to set policy and access regimes, to a system that will be operated by the monopolist or should I say, monopolist incumbent...

Do they even have KYC? Who uses it?

I mean it seems the ASX is using a provider who doesn't even believe in the technology themselves.....