THELOGICALINDIAN - Although Bitcoin has not yet reachedWall Street its basal blockchain technology will anon be appropriate in the average of the activity NASDAQ OMX the aggregation abaft the NASDAQ banal barter appear that it is testing a arrangement that uses blockchaintechnology to baby-sit banal trades on a abstracted bazaar alone for clandestine companies
Also read: Overstock Wants to Issue $500 M in Bitcoin-Like Stocks
The acumen abaft the abstraction of application the blockchain after Bitcoin holds that the cryptocurrency is too awry to alter absolute currencies. However, alike admitting Bitcoin is questionable, adherents of this abstraction accept that blockchain technology can decidedly change how the banking apple operates. NASDAQ OMX’s accommodation to use the blockchain for the issuance, transfer, and administration of clandestine aggregation balance is aimed at the aforementioned ambition of alteration the accounts industry.
Test Will Happen on the NASDAQ Private Market
Brad Peterson, the man who leads technology efforts at NASDAQ OMX, says this blockchain analysis will appear on the Nasdaq Private Market. The Private Market, which aims to accord companies a way of bigger managing their shares afore an IPO, was launched in 2014. Thus, the alignment has been putting every accomplishment to advice companies advantage the latest technology. Now, NASDAQ will handle the market’s trades application technology based on the blockchain, the online accessible balance that advance buying of a agenda asset via machines advance beyond the Internet.
The latest accommodation to use Blockchain technology is accepted to advice NASDAQ accumulate clandestine trading, and accord pre-IPO companies a added reliable way of auditing trades in their stock, as the companies would be able to apperceive anon who owns their banal and who trades them. NASDAQ OMX claims that the blockchain accomplishing that it will introduce after this year provides integrity, analysis ability, governance, and alteration of buying capabilities. Fredrik Voss, the company’s Blockchain Technology Evangelist, will advance the aggregation that introduces the NASDAQ Clandestine Market to the blockchain.
This is not for the aboriginal time that Bitcoin-based technology is actuality explored, earlier, online banker Overstock.com, a accessible company, appear it is architecture agnate technology that it hopes to use as a agency of arising its banal online.
The Blockchain is a Natural Digital Evolution for Managing Physical Securities
According to Bob Greifeld, CEO of NASDAQ, utilizing the blockchain is a accustomed agenda change for managing concrete securities. He says:
Nonetheless, back the accepted accessible markets are woefully inefficient — demography up to three canicule to achieve trades — the blockchain technology could advice NASDAQ increase efficiency, scale, and speed.
What about Privacy?
Though the accommodation by NASDAQ to use blockchain technology is actuality lauded, some questions are already actuality raise. One above concern is about privacy, which may be compromised back the blockchain is used, back bodies can clue all affairs on the ledger at any time. Thus, there are abounding challenges that charge be faced and bound as NASDAQ explores this new technology.
What do you anticipate about NASDAQ OMX’s accommodation to accommodate the blockchain into the NASDAQ Private Market? Let us apperceive in the comments below!
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