Marc Hochstein is the managing editor of CoinDesk and the former editor-in-chief of American Banker. The following article originally appeared in CoinDesk Weekly, a custom-curated newsletter delivered every Sunday exclusively to our subscribers. Last week I described how bitcoin, as a deflationary currency, Now there’s evidence that bitcoin’s straight-laced twin, enterprise blockchain technology, requires such an attitude as well.
Overshadowed by the bitcoin price action, the enterprise use case – and one of its most prominent evangelists – scored a major advance last week. But it was a hard-won victory.
After two years of exploration, the Australian Securities Exchange (ASX) decided to replace its decades-old post-trade settlement system with a distributed ledger from Digital Asset, the startup led by former JPMorgan Chase executive Blythe Masters. That’s right, replace.
This is not another pilot or a proof of concept or a sandbox, it’s real production. Masters called the agreement “precedent-setting,” and it’ll be interesting to see what else her company does with its $115 million war chest after this prolonged and successful courtship. Read more from coindesk.com…
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