Failed blockchain project ends with big fine for fibs about it being on track

The attempt by Australia’s Securities Exchange (ASX) to replace its core trading platform with a blockchain-based system has ended with an A$20.5 million fine ($14.2 million/£10.6 million), further humiliation after the project flopped. The ASX runs a platform called the Clearing House Electronic Subregister System (CHESS) to process and track trades on its exchange. In 2017, the ASX decided to replace CHESS, citing difficulties maintaining the application, which the bourse coded in COBOL and ra