I don't fully understand the blockchain concept but if ASX are...

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tesio_nz

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23/11/19

06:24

Post #: 41589815
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Originally posted by NashaNasha: ↑

You just repeated the same crap

They don't have their own KYC, I do have a question for you, are you a doorknob or human?
Bank KYC/AML compliance is broken but blockchain can fix it but that's 10+ years away so forget that.
The endlessly growing costs of transaction-tracking software
Staff training and the hiring of compliance experts are half the problem
Banks are spending $20 billion a year to run the compliance programs and failing.
Current processes used by financial institutions to handle regulatory compliance are broken and highly ineffective in preventing money laundering
The cost of compliance found that “Firms with less than US$1 billion in assets averaged some US$850,000 in AML operational costs,” with mid to large-sized firms averaging $18.9 million a year. The costs are somewhat evenly distributed across the different operational elements involved with compliance, as the figure below demonstrates:

Or just get Isignthis who has developed the world's best solution that meets 4AML and 5AML directive with ease. If you do not get the above please go back to being a doorknob, they are handy objects I use them daily.

/end rant

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I don't fully understand the blockchain concept but if ASX are looking to develop it and they ultimately will be the be the beneficial owners of it could they simply be looking to discredit ISX in the Australian market so as to impede the uptake of a rival product which is perceived as being a very real threat to their ultimate win in that very same space.
Is it time to be questioning the motives here of ASX themselves?
Who is ASX accountable to by way of audit ?
ISX Price at posting: $1.07 Sentiment: Hold Disclosure: Held
12 Upvote

1 Great analysis

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