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ASX says its blockchain will slice super costs

James Eyers
James EyersSenior Reporter
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The ASX said the adoption of blockchain technology could help the superannuation industry save hundreds of millions of dollars in costs by removing multiple databases of share ownership information, while also creating new revenue opportunities.

Announcing underlying net profit up 7.2 per cent to $465.3 million – helped along by a 46 per cent jump in the amount of capital raised by listed companies over the past year – CEO Dominic Stevens unveiled a strategic vision for the ASX to become the trusted infrastructure governing big-data analytics as the financial services industry is reshaped by new technology.

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James Eyers writes on banking, payments and fintech. He is a former legal and investment banking editor at the AFR, has degrees in commerce and law from UNSW, and is co-author of Buy now, pay later: The extraordinary story of Afterpay Connect with James on Twitter. Email James at jeyers@afr.com.au

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    Original URL: https://www.afr.com/markets/equity-markets/asx-says-its-blockchain-will-slice-super-costs-20180816-h14270