The nation’s obsession with consultants creates little but waste.
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The federal government must decide that every cent paid to a consulting firm is a waste of taxpayer dollars.
The news that the ASX is liquidating and taking massive losses on a blockchain-backed alternative to CHESS Holdings comes as no surprise to anyone with the basic ability to Google “what is blockchain ?”, or which one is not paid to believe knowingly. In Blockchain Hype.
That the country’s stock exchange has been bought into this nonsense is a broader indication of the dysfunction at the core of Australian society when it comes to technology.
I have no doubt that there were smart and efficient technologists within the ASX who were steamrolled by external consultants who said blockchain was the solution to the idea of ”knowing who owns what”. Mind you, this was a service that the ASX was providing quite effectively without a bunch of weirdos running some software on their home PCs to ensure that the country’s securities were traded. The ability to trade should continue unhindered.
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