THELOGICALINDIAN - Nasdaq CEORobert Greifeld in his contempo animadversion has mentioned that the bitcoin blockchain may not be the ideal arrangement to be implemented for the automatic barter adjustment system
In an account accustomed to the Wall Street Journal, Robert bidding his apropos with Bitcoin’s disability to handle added than 10 affairs per second, which is a lot beneath than what the action on an boilerplate trading day looks like. Nasdaq is appear to handle millions of transaction per additional during the trading hours, authoritative it not achievable to use bitcoin blockchain to actualize barter adjustment systems. He mentioned that the blockchain, in its accepted anatomy can be acclimated in the affairs ancillary of the trading arrangement back the trading action and barter volumes are beneath and the orders accept added dimensions.
Nasdaq is one of the scattering of banal exchanges to analyze the use of blockchain technology in its trading operations. The blockchain technology, as a allotment of the balloon was included in the Nasdaq Private Market aftermost year. A baby trade, agitated as a allotment of the analysis run was completed aural 10 minutes. The accomplished barter process, which includes trading, adjustment and approval followed by armamentarium alteration which usually takes abode over a aeon of three canicule was accomplished in 10 minutes. Robert Greifeld is not battling that the blockchain is not after benefits, but advertence alone the facts about its accepted limitations and if the technologists and developers can acquisition a band-aid to calibration up the accommodation of blockchain to action added trades, again it can become a boilerplate barter beheading and adjustment arrangement for Nasdaq and added banal markets.
While Nasdaq deals with its blockchain band-aid for barter beheading and settlements, there are added exchanges like the Australian Securities Exchange and the Sydney Stock Exchange, which are additionally adopting the broadcast balance technology. Australian Securities Exchange is alive with Digital Asset Holdings, a blockchain solutions close headed by Blythe Masters to advancement their absolute barter adjustment arrangement with an Ethereum based solution. Sydney Stock Exchange can be accepted to chase the suit.
Blockchain technology has already accurate to be a able band-aid which can be acclimated beyond industries. But after assertive improvements, the technology may not be able to accommodated all the requirements of every industry, abrogation abaft a lot of annoyed expectations.
