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Blockchains, cryptocurrencies and the future...

moXJO

menace to society
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I am getting a very uncomfortable about the blockchain. Instead of our saviour I am increasingly starting to think that it is our demise.


It's a big danger the way it's going. Every transaction is recorded, so it's an authoritarian paradise.

Government control over money at that level would be nightmarish.


CBDCs are already here. It will make trade easier. But I suspect the greater intention is to pop the US dollars stranglehold.

Next 10 years are the flip to the new world order of things. Some great profit potentials, but also some huge hits to standard of living.
 
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The ASX has surprisingly cancelled its project to move the ASX to a distributed ledger system.
From Coindesk
The Australian Securities Exchange (ASX) has cancelled its much-delayed blockchain replacement to its aged Clearing House Electronic Subregister System (CHESS).
The ASX said the decision has been taken "in light of the solution uncertainty" and will incur a charge of AUD $250 million ($168 million) in a statement Thursday.
A report by consultancy Accenture identified "significant challenges" with the the design of the blockchain system, such as uncertainty over how ASX requirements interact with the application and underlying ledger.
250 mill down the drain. That is a level of write off normally associated with one of the tiers of government.
Mick
 

JohnDe

Property, ASX, US stock market investor
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The ASX has surprisingly cancelled its project to move the ASX to a distributed ledger system.
From Coindesk

250 mill down the drain. That is a level of write off normally associated with one of the tiers of government.
Mick

Six years & the first exchange to attempt the project, warning bells went off a long time. And to think that people received performance bonuses. Ridiculous!
 
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Six years & the first exchange to attempt the project, warning bells went off a long time. And to think that people received performance bonuses. Ridiculous!
ASX won't be the last to write off hundreds of millions if not billions on failed pie in the sky blockchain projects. I think a lot of old white men across the western world have been sold (conned?) the dream of a business functioning on blockchain without any actual understanding of how or why it will work and be better. The world needs to stop f-ing around wasting time, money, and energy on this crypto blockchain 💩.

Funny that most articles don't say Peter Hiom who was looking after the ASX blockchain junk several years ago now works for Motive Partners - which was founded by the woman who... well I'll let you read the rest and form your own conclusion.

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Oh and that didn't age well did it...
 

Dona Ferentes

NEMO SIBI NASCITVR
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The ASX has surprisingly cancelled its project to move the ASX to a distributed ledger system

250 mill down the drain. That is a level of write off normally associated with one of the tiers of government.
Plus compensation for the costs incurred by brokers that had to develop upgrades alongside as test models were released (prematurely). perhaps another hundred million
 
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