ASX Delays its Blockchain Launch due to the Coronavirus Crisis

The coronavirus crisis has created a lot of logistical problems across different industries. Even companies exploring blockchain ventures are now forced to postpone their venture for the foreseeable future.

ASX Is the latest firm to confirm its blockchain project has been postponed.

Postponing is the Best Option for ASX

This move is not entirely surprising, as the current market conditions don’t allow for it to happen.

ASX Is currently re-evaluation the implementation of the CHESS system.

While embracing new technologies is always a good idea, there are bigger issues to be concerned with right now.

The novel coronavirus outbreak is creating a lot of havoc across the world.

It would appear that this delay will not impact the company’s long term plans in any meaningful way.

Share registries who would be hooking into CHESS have been asking for a launch delay in recent weeks.

The new project comes with its own set of rule amendments, spanning roughly 450 pages.

ASX Still expects to launch a test environment for CHESS in July, albeit that timeline may need to be revised in the near future. 

The official launch in October in 2020 may not be feasible either.

It seems likely to expect that more blockchain project launches will be postponed during the global coronavirus crisis.