VMware, Digital Asset to Collaborate with ASX on Developing DLT

Asia Blockchain Review
August 31, 2019
VMware, Digital Asset to Collaborate with ASX on Developing DLT

California-based tech company VMware, alongside fintech enterprise Digital Asset, has entered into a memorandum of understanding (MoU) with the Australian Securities Exchange (ASX) to collaborate on developing distributed ledger technology (DLT).

According to Computer World, ASX announced the signing of the MoU and made known that VMware and Digital Asset will work with it on the implementation of a blockchain-like system in Australia and New Zealand.

ASX Looking to Replace its CHESS system with DLT

The joint effort is part of ASX’s desire to replace its Clearing House Electronic Subregister System (CHESS), a computer program that has settled financial products traded on the Australian Securities Exchange since 1994.

A key goal of the DLT upgrade would be enabling companies relevant to ASX to utilize Digital Asset Modeling Language (DAML) — an open-source language created by Digital Asset for building smart contracts that can run on a blockchain network. 

ASX began making moves towards DLT in 2016, when it acquired a 5 percent stake in Digital Asset. Replacement of CHESS is expected to begin in early 2021, when ASX’s DLT system is slated for launch.

MoU Allows for Even Greater Collaboration

Peter Hiom, Deputy CEO of ASX, called the new partnership established by the MoU a “very positive development that will help us support a wider range of DLT solutions.” 

The exchange operator has indicated that the tripartite alliance will go beyond empowering businesses to use DAML towards providing DLT support for enterprises across Australia and New Zealand.

VMware is to apply its know-how on virtualization to realize ASX’s objective.

Source: www.computerworld.com.au


About Asia Blockchain Review

Asia Blockchain Review is the largest initiative for media and community building in Asia for blockchain technology. It aims to connect all blockchain enthusiasts on a regional scale and facilitate the technological foundation of blockchain through a range of group discussions, technical workshops, conferences, and consulting programs.

Our goal is to cultivate and encourage a collaborative community for our members to gather, share their experiences and endeavors in the blockchain space, and brainstorm the potential uses of blockchain technology.

Follow Asia Blockchain Review on:

Related Article
South Korean Mobile Service Provider Unveils Blockchain OS
Union Mobile, a major mobile service provider in South Korea, has recently unveiled its blockchain o...

September 22, 2019

UK, US Top List of Most Crypto Exchanges by Country followed by Hong Kong and Singapore
Blockchain analytics platform Crystal has revealed a breakdown of the countries with the most regist...

September 22, 2019

Thai Oil Major PTT to Create Renewable Energy Blockchain Platform
Thai energy giant PTT has partnered with Energy Web Foundation to launch a blockchain-based platform...

September 22, 2019

Five Privacy Coins to be Delisted at OKEx South Korea
The South Korean branch of OKEx has announced it will be delisting privacy coins including Dash and ...

September 21, 2019

We provide information about Asia Blockchain Review latest activities as well as global blockchain news and research. Subscribe to our Newsletter now or Contact us