This is Charles Brett’s start-of-the-week Enterprise Times ‘blockchain catch-up’ 2022-Week 46. Necessarily it is idiosyncratic and selective.
It is not intended to be comprehensive but does seek to highlight ‘Quick Takes’ on specific developments as well interesting pieces to read, a listing of some (not all) announcements/press releases and pointers to upcoming events.
Quick Take(s) – Charles Brett’s Blockchain Catch-up 2022-Week 46
ASX grip on clearing shaken by blockchain disaster
Per the Financial Review, “ASX’s monopoly on clearing and settling cash equity market trades is under threat amid political and investor fury over the exchange’s failure to deliver a critical project to update the technology underpinning the sharemarket.
“ASX pulled the plug on a seven-year project to replace the ageing CHESS system – which transfers ownership and manages payment for equities – with distributed ledger technology known as blockchain.
“It will write off $245 million to $255 million and may have to compensate trading firms that spent at least $100 million on their own upgrades for the experimental clearing and settlement project.”
Quick Take: After the BTX disaster, the Australian Stock Exchange write-off of c A$250 is not a great endorsement of blockchain usage. If a third or fourth major horror emerges, then credibility may be hard to regain (though see ‘Adoption of digital assets among institutional investors increases’ below) …
7 pieces to read – Charles Brett’s Blockchain Catch-up 2022-Week 46
- Where next for blockchain technology after FTX collapse?
- How a series of crypto meltdowns is reshaping the industry (behind Bloomberg paywall)
- Crypto watchdogs have a giant offshore problem
- Never seen ‘such a complete failure’ of corporate controls, says new FTX CEO who also oversaw Enron bankruptcy
- FTX bankruptcy filing (in full)
- Adoption of digital assets among institutional investors increases
- How play-and-earn blockchain gaming is changing the world of video games (video).
Selected announcements/press releases/opinions – Charles Brett’s Blockchain Catch-up 2022-Week 46
- Wait, wasn’t bitcoin supposed to solve this? (opinion, behind FT paywall)
- The FTX collapse looks an awful lot like Enron (opinion)
- U.S. Banks Launch a Digital Dollar Blockchain Pilot (announcement)
- Turbulence for blockchain industry despite strong Bitcoin fundamentals (report)
Selected upcoming events
- Crypto and Digital Assets Summit – Winter Edition (28th November, 2022)
- Bitcoin Conference (18th-20th May, 2023).
