ASIC Chairman: Blockchain Technology Has Potential to Change Finance

ASIC Chairman: Blockchain Technology Has Potential to Change Finance

The chairman of the Australian Securities and Investments Commission (ASIC) believes blockchain technology has the potential to fundamentally change the world's existing financial system. Greg Medcraft, appointed chair of ASIC in 2011, made the comments during his speech at Australia's Carnegie Mellon University earlier this week. According to Medcraft, distributed ledger technology could result in greater efficiency and speed, disintermediation, reduced transaction costs and improved market access. Following an explanation of the blockchains's characteristics, Medcraft noted its potential....


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