In what is being considered to be a monumental step forward for the crypto industry as a whole, the Australian Stock Exchange (ASX) is all set to become the world’s first DLT enabled stock exchange.
Currently, there are more than 10 blockchain-based business outfits that are already listed on the ASX, with the newest addition being ASX Limited (ASX: ASX) itself.
What is the ASX planning moving forward?
Over the past year or so, the ASX has been a regular feature within the global news circuit, especially since the exchange has been preparing to implement its trailblazing technology that has yet to be used by any other financial market across the globe.
Even though Nasdaq and other big-name players have taken nascent steps towards adopting blockchain technology, ASX is leading the charge and promises to revolutionize the way in which financial trades are facilitated globally.
With the introduction of Blockchain technology within Australia’s existing financial framework, one can expect to see a lot of positive changes moving forward. Some of the key benefits that will be delivered thanks to this technology include:
Better supply-chain management.
Improved record keeping efficiency.
Enhanced cryptocurrency management.