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If you're interested in some lower level details this article gets into what was seen as the limitations of the technology https://www.theregister.com/2022/11/1
by shearichard 4y ago
If you're interested in some lower level details this article gets into what was seen as the limitations of the technology https://www.theregister.com/2022/11/17/asx_blockchain_reading_project_paused/ https://www.theregister.com/2022/11/17/asx_blockchain_readin... .
It's not clear to me whether the $A250M was the direct costs to the Exchange (ie invoices + ASX staff time) or the value which the Exchange was carrying the software on their books at ?
- neffo 4y ago> It's not clear to me whether the $A250M was the direct costs to the Exchange (ie invoices + ASX staff time) or the value which the Exchange was carrying the software on their books at ? They are the same thing. The wage, service and material costs through development are capitalised as an intangible asset. (Essentially the attributable development costs become the value of the asset.) This intangible asset just got written down to zero as it was accessed as having zero future economic return.
- shearichard 4y agoI'm not an accountant ... but is this always true ? Isn't the software that underlies a Stock Exchange looked upon in the same way that, say, the brand value is ? If the development that has now been abandoned had turned out to be raging success wouldn't this have increased the value of the ASX ? And, in that case, wouldn't that software be treated as something which partially constituted the value of the ASX in the same way that patents held by ASX would have a value ? As I say I'm not an accountant ;-)