Categories: CryptoNews

Computershare Showcases Blockchain Securities Register in Australia

Australian securities register Computershare has announced a partnership with UK-based blockchain developer SETL. The announcement was made at today’s Computershare investor briefing. According to a report by The Sydney Morning Herald, the partnership will bring a blockchain-based securities register to Australia.

At the investor briefing, Computershare CEO Stuart Irving dismissed fears that blockchain technology will make firms like Computershare obsolete in the long run, calling the speculative assertions “ill-informed” statements that are being made by “competing vested interests”.

Instead, Irving said that Computershare is placed in a very lucrative position to take advantage of the new opportunities the technology will bring:

“Computershare is not an intermediary in the traditional sense. Computershare is an agent for a critical end-user segment of the market – an enviable position in a blockchain environment. We see real-life commercial opportunities given Computershare’s unique positioning.”

Thursday’s investor briefing also showcased a demonstration of the new register platform, which Computershare claims will unite various industry participants under one open standard. However, Computershare’s investor presentation stressed the fact that only a single entity could act as trusted “issuer agent” on the new blockchain-based register:

“Only one trusted party can logically act as the gateway [or node] for the issuer for the purposes of maintaining issued share capital, otherwise the system will lack the integrity it needs on a distributed basis.”

Related Post

Additionally, Computershare sees a new securities trading model emerging as a result of distribute ledgers, where the functions of clearing and settlement are eliminated, and traders are directly connected to the securities register.

According to research by SETL, blockchain-based system may cut about $80 billion in post-trade fees from the securities trading industry.


Image credit: 1

If you liked this article follow us on Twitter @themerklenews and make sure to subscribe to our newsletter to receive the latest bitcoin and altcoin price analysis and the latest cryptocurrency news.

Published by

Recent Posts

WAX Price Up 44%, Increased User Adoption Signals Growing Interest in the Platform

WAX price is up over 44% today, making it the biggest gainer on With…

3 hours ago

5 Underrated Metaverse Coins With Great Long Term Potential

Metaverse coins are all the hype these days, with coins like Decentraland and Axie Infinity…

7 hours ago

Ankr Price Up 11% Amid Binance Listing and Polkadot Parachain Integration

Ankr price is up over 11% today, making it one of the biggest gainers on…

11 hours ago

Keep Network Price Up 45% Amid Upcoming Threshold Merger

Keep Network price is up over 45% today, making it the biggest gainer on…

1 day ago

Nugenesis Patented Gasless NFT Platform Will Bring Mainstream Adoption

NuGenesis has 4 patents pending for its gasless NFT multi-cross chain system. It sees NFTs…

1 day ago

Top 5 Metaverse Coins With Fully Functional Apps to Watch In 2022

The hottest trends in crypto right now are meme coins and metaverse projects. With Facebook's…

1 day ago

This website uses cookies.