Sounds like the problem was mismanagement. Let's not blame crypto for everything.
I'm not saying blockchain was the answer to their problems, but it could have been a sub $10M mistake if not for the terrible management.
Sounds like the problem was mismanagement. Let's not blame crypto for everything.
I'm not saying blockchain was the answer to their problems, but it could have been a sub $10M mistake if not for the terrible management.
Here's the Accenture report in full published by ASX: https://www2.asx.com.au/content/dam/asx/markets/clearing-and...
They failed to architect the project properly by trying to run everything on the blockchain smart contracts instead of leveraging something off chain. Similarly there was mismanagement from DA (the developers) and ASX with no clear goal of what the end product looked like or how progress was being made.
Accenture even call out that a blockchain solution might not have been the best one considering the ASX centrally settles trades anyway.
The pdf is a good read into the technical and management failings of the project
Much harder to convince anyone to do Blockchain work now. It's a blow to Blockchain's reputation.