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šŸ’„ASX gets flak re DLT post-trade system from shareholders, central bankšŸ’„
September 28, 2022
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Today the Australian Securities Exchange (ASX) encountered pushback from stockholders and the central bank relating to its delayed CHESS blockchain clearing and settlement system. In August,Ā ASX announced another delayĀ pushing back the launch to the end of 2024 at the earliest. Accenture was contracted to review the code, and it was disclosed that US$150 million has been spent on the project so far.

At today’s annual general meeting (AGM), a vote on a remuneration package received 30% opposition whichĀ ASXĀ Chair Damian Roche described as ā€˜strike’. The former CEO Dominic Stevens previously had his variable rewards reduced by 40%, and other ASX staff on the CHESS replacement project also had bonuses cut.

ā€œThe CHESS project is highly complex and remains challenging,ā€ said Chair Damian Roche. ā€œThere is no question that the performance of this project did not meet our or our customers’ expectations in 2022. We share the frustration of our stakeholders.ā€

Central bank asks questions

Also today, the Reserve Bank of Australia (RBA) published its annual assessment of ASX’s clearing and settlement facility. TheĀ reportĀ dedicated a significant section to the new DLT post trade system expressing disappointment in the delay.

According to the review, the current iteration of the DLT system can handle normal present-day volumes. But presumably, it can’t handle major spikes as it mentions that ASX has ā€œidentified a number of scenarios that could create bottlenecks or latency issues.ā€

While these scalability issues are important and need addressing, it appears the finishing line is in sight.

Digital AssetĀ is developing the smart contract application andĀ VMware BlockchainĀ is responsible for the ledger. These relationships have come under the spotlight. The central bank’s announcement stated, ā€œASX will need to demonstrate that appropriate arrangements are in place to manage risks related to its dependence on key vendors.ā€Ā 

The report goes into more detail saying regulators want more information from ASX regarding:

  • ā€œthe Board’s oversight of vendor relationships;Ā 
  • the way that the original design specifications were communicated, and subsequent engagement between ASX and vendors on any challenges developing to these specifications;Ā 
  • and ASX’s contingency plans if its current vendor arrangements required changes.ā€

Other risk management issues

The central bank’s report covers a broad range of topics, including potential conflicts of interest. The Reserve Bank noted that šŸ‘‰the new platform enables ASX Group to offer services in addition to the clearing and settlement (CS) services provided by the existing system. One example is it now offers Blockchain as a Service solutionĀ SynfiniĀ and isĀ showcasing asset tokenization, which is not directly relevant to CHESS.

The Bank expressed concerns about other services possibly presenting a conflict of interest. ā€œThere may be scenarios where a decision that enhances the resilience of CS services in CHESS replacement limits the potential for ASX to offer these non-core services,ā€ says the report.

The planned go-live procedure has always been one of the biggest risks with the new CHESS system. šŸ‘‰It will NOT run in parallel with the existing systems, and the cutover is scheduled for a single weekend. šŸ‘‰A major reason is that the new system uses ISO 20022 messaging versus the proprietary format currently used. So running in parallel would require market participants to send two messages.

ASX has a low risk tolerance but the ā€œprogram was operating outside risk appetite, in particular due to the delivery delays,ā€ said the central bank report.

When the latestĀ delay was announced in August, the new ASX CEO Helen Lofthouse was asked whether there was a risk of the project not completing. Referring to CHESS, Lofthouse said at the time, ā€œit does absolutely need replaced. So we will be replacing it. This review is just working through some of the details of the challenges we’re having with the project.ā€


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September 04, 2025
Pyth Roadmap update. New institutional product. $PYTH token utility.

šŸš€ Endorsed by US Government šŸ˜‰

Op: Pyth Network

00:01:45
September 01, 2025
PYTH NETWORK: The pursuit of transparency šŸ¦…
00:00:09
September 01, 2025
True StoryšŸ˜‰

RLUSD adoption will increase demand for XRP. On-Demand Liquidity allows XRP to move large tokenized assets efficiently, bridging digital and traditional finance and supporting global liquidity.

Ever notice how TV shows drop subliminal messages that reveal the story without telling you? The same thing is happening in finance. RLUSD is quietly stepping in to buy US bonds and absorb debt. XRP handles the settlements. Connect the dots, this is the blueprint for global liquidity.

OP: Blackswancapitalist

00:02:25
šŸ‘‰ Coinbase just launched an AI agent for Crypto Trading

Custom AI assistants that print money in your sleep? šŸ”œ

The future of Crypto x AI is about to go crazy.

šŸ‘‰ Here’s what you need to know:

šŸ’  'Based Agent' enables creation of custom AI agents
šŸ’  Users set up personalized agents in < 3 minutes
šŸ’  Equipped w/ crypto wallet and on-chain functions
šŸ’  Capable of completing trades, swaps, and staking
šŸ’  Integrates with Coinbase’s SDK, OpenAI, & Replit

šŸ‘‰ What this means for the future of Crypto:

1. Open Access: Democratized access to advanced trading
2. Automated Txns: Complex trades + streamlined on-chain activity
3. AI Dominance: Est ~80% of crypto šŸ‘‰txns done by AI agents by 2025

🚨 I personally wouldn't bet against Brian Armstrong and Jesse Pollak.

šŸ‘‰ Coinbase just launched an AI agent for Crypto Trading
42k Followers

$PYTH we are on key demand zone monthly / weekly, after a 40% correction downard in few days.

Major news has been dropped, selling here & panicking looks stupid for me.

Im Buying more šŸ“ˆ

https://x.com/CryptoJobs3/status/1963975245175435415

80k followers

$PYTH pumped perfectly from the entry I shared.
But got rejected from the pink box.
However, we are now approaching support after the correction.

According to Fib Levels, the green box looks a good zone for reversal. Also, good zone to DCA if you believe in @PythNetwork for the long term.

https://x.com/cryptodoc_/status/1963941809513758761

By 2030, 10% of global assets are expected to be tokenized. šŸ“¶

Discover how Ripple Custody delivers enterprise-grade security and the infrastructure for:
šŸ”’ Safekeeping of private keys
šŸ’± Stablecoin issuance
āš™ļø Onchain governance & compliance

To seize this opportunity, institutions need a foundation of trust:
https://ripple.com/insights/digital-asset-custody-in-action-three-use-cases-driving-institutional-adoption/

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The Great Onboarding: US Government Anchors Global Economy into Web3 via Pyth Network

For years, the crypto world speculated that the next major cycle would be driven by institutional adoption, with Wall Street finally legitimizing Bitcoin through vehicles like ETFs. While that prediction has indeed materialized, a recent development signifies a far more profound integration of Web3 into the global economic fabric, moving beyond mere financial products to the very infrastructure of data itself. The U.S. government has taken a monumental step, cementing Web3's role as a foundational layer for modern data distribution. This door, once opened, is poised to remain so indefinitely.

The U.S. Department of Commerce has officially partnered with leading blockchain oracle providers, Pyth Network and Chainlink, to distribute critical official economic data directly on-chain. This initiative marks a historic shift, bringing immutable, transparent, and auditable data from the federal government itself onto decentralized networks. This is not just a technological upgrade; it's a strategic move to enhance data accuracy, transparency, and accessibility for a global audience.

Specifically, Pyth Network has been selected to publish Gross Domestic Product (GDP) data, starting with quarterly releases going back five years, with plans to expand to a broader range of economic datasets. Chainlink, the other key partner, will provide data feeds from the Bureau of Economic Analysis (BEA), including Real Gross Domestic Product (GDP) and the Personal Consumption Expenditures (PCE) Price Index. This crucial economic information will be made available across a multitude of blockchain networks, including major ecosystems like Ethereum, Avalanche, Base, Bitcoin, Solana, Tron, Stellar, Arbitrum One, Polygon PoS, and Optimism.

This development is closer to science fiction than traditional finance. The same oracle network, Pyth, that secures data for over 350 decentralized applications (dApps) across more than 50 blockchains, processing over $2.5 trillion in total trading volume through its oracles, is now the system of record for the United States' core economic indicators. Pyth's extensive infrastructure, spanning over 107 blockchains and supporting more than 600 applications, positions it as a trusted source for on-chain data. This is not about speculative assets; it's about leveraging proven, robust technology for critical public services.

The significance of this collaboration cannot be overstated. By bringing official statistics on-chain, the U.S. government is embracing cryptographic verifiability and immutable publication, setting a new precedent for how governments interact with decentralized technology. This initiative aligns with broader transparency goals and is supported by Secretary of Commerce Howard Lutnick, positioning the U.S. as a world leader in finance and blockchain innovation. The decision by a federal entity to trust decentralized oracles with sensitive economic data underscores the growing institutional confidence in these networks.

This is the cycle of the great onboarding. The distinction between "Web2" and "Web3" is rapidly becoming obsolete. When government data, institutional flows, and grassroots builders all operate on the same decentralized rails, we are simply talking about the internet—a new iteration, yes, but the internet nonetheless: an immutable internet where data is not only published but also verified and distributed in real-time.

Pyth Network stands as tangible proof that this technology serves a vital purpose. It demonstrates that the industry has moved beyond abstract "crypto tech" to offering solutions that address real-world needs and are now actively sought after and understood by traditional entities. Most importantly, it proves that Web3 is no longer seeking permission; it has received the highest validation a system can receive—the trust of governments and markets alike.

This is not merely a fleeting trend; it's a crowning moment in global adoption. The U.S. government has just validated what many in the Web3 space have been building towards for years: that Web3 is not a sideshow, but a foundational layer for the future. The current cycle will be remembered as the moment the world definitively crossed this threshold, marking the last great opportunity to truly say, "we were early."

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US Dept of Commerce to publish GDP data on blockchain

On Tuesday during a televised White House cabinet meeting, Commerce Secretary Howard Lutnick announced the intention to publish GDP statistics on blockchains. Today Chainlink and Pyth said they were selected as the decentralized oracles to distribute the data.

Lutnick said, ā€œThe Department of Commerce is going to start issuing its statistics on the blockchain because you are the crypto President. And we are going to put out GDP on the blockchain, so people can use the blockchain for data distribution. And then we’re going to make that available to the entire government. So, all of you can do it. We’re just ironing out all the details.ā€

The data includes Real GDP and the PCE Price Index,Ā which reflects changes in the prices of domestic consumer goods and services. The statistics are released monthly and quarterly. The biggest initial use will likely be by on-chain prediction markets. But as more data comes online, such as broader inflation data or interest rates from the Federal Reserve, it could be used to automate various financial instruments. Apart from using the data in smart contracts, sources of tamperproof data šŸ‘‰will become increasingly important for generative AI.

While it would be possible to procure the data from third parties, it is always ideal to get it from the source to ensure its accuracy. Getting data directly from government sources makes it tamperproof, provided the original data feed has not been manipulated before it reaches the oracle.

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If you find value in my content, consider showing your support via:

šŸ’³ PayPal:Ā 
1) Simply scan the QR code below šŸ“²
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List Of Cardano Wallets

Well-known and actively maintained wallets supporting the Cardano Blockchain areĀ Eternl,Ā Typhon,Ā Vespr,Ā Yoroi,Ā Lace,Ā ADAlite,Ā NuFi,Ā Daedalus,Ā Gero,Ā LodeWallet,Ā Coin Wallet,Ā ADAWallet,Ā Atomic,Ā Gem Wallet,Ā TrustĀ andĀ Exodus.

Note that in case of issues, usually only queries relating to official wallets can be answered in Cardano groups across telegram/forum. You may need to consult with specific wallet support teams for third party wallets.

Tips

  • Its is important to ensure that you're in sole control of your wallet keys, and that the keys used can be restored via alternate wallet providers if a particular one is non-functional. Hence, put extra attention toĀ Non-CustodialĀ andĀ CompatibilityĀ fields.
  • The score column below is strictly a count of checks against each feature listed, the impact of specific feature (and thus, score) is up to reader's descretion.
  • The table represents current state on mainnet network, any future roadmap activities are out-of-scope.
  • Info on individual fields can be found towards the end of the page.
  • Any field that shows partial support (eg: open-source field) does not score the point for that field.

Brief info on fields above

  • Non-Custodial: are wallets where payment as well as stake keys are not shared/reused by wallet provider, and funds can be transparently verified on explorer
  • Compatibility: If the wallet mnemonics/keys can easily (for non-technical user) be used outside of specific wallet provider in major other wallets
  • Stake Control: Freedom to elect stake pool for user to delegate to (in user-friendly way)
  • Transparent Support: Easy approachability of a public interactive - eg: discord/telegram - group (with non-anonymous users) who can help out with support. Twitter/Email supports do not count for a check
  • Voting: Ability to participate in Catalyst voting process
  • Hardware Wallet: Integration with atleast Ledger Nano device
  • Native Assets: Ability to view native assets that belong to wallet
  • dApp Integration: Ability to interact with dApps
  • Stability: represents whether there have been large number of users reporting missing tokens/balance due to wallet backend being out of sync
  • Testnets Support: Ability to easily (for end-user) open wallets in atleast one of the cardano testnet networks
  • Custom Backend Support: Ability to elect a custom backend URL for selecting alternate way to submit transactions transactions created on client machines
  • Single/Multi Address Mode: Ability to use/import Single as well as Multiple Address modes for a wallet
  • Mobile App: Availability on atleast one of the popular mobile platforms
  • Desktop (app,extension,web): Ways to open wallet app on desktop PCs
  • Open Source: Whether the complete wallet (all components) are open source and can be run independently.

Source

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If you find value in my content, consider showing your support via:

šŸ’³ PayPal:Ā 
1) Simply scan the QR code below šŸ“²
2) or visit https://www.paypal.me/thedinarian

šŸ”— Crypto
XRP: r9pid4yrQgs6XSFWhMZ8NkxW3gkydWNyQX
XLM: GDMJF2OCHN3NNNX4T4F6POPBTXK23GTNSNQWUMIVKESTHMQM7XDYAIZT
XDC: xdcc2C02203C4f91375889d7AfADB09E207Edf809A6

Ā 

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