Nasdaq launches blockchain technology pilot

first_img Canadian IPO market limps through Q3, PwC reports Keywords Stock exchangesCompanies Nasdaq OMX Group, Inc. Facebook LinkedIn Twitter Share this article and your comments with peers on social media James Langton Negative 2021 outlook on exchange, clearing sector: Fitchcenter_img The first application, which is expected to be launched later this year, will be a blockchain-enabled digital ledger on its Nasdaq Private Market platform. It says that this will provide a fully electronic, distributed ledger-style solution for accurate record-keeping. Nasdaq says that the creation of a distributed ledger function using blockchain technology will “provide extensive integrity, audit ability, governance and transfer of ownership capabilities.” Fredrik Voss, vice president at Nasdaq, has been named the company’s blockchain technology evangelist to lead the strategic development of this initiative for Nasdaq. “Utilizing the blockchain is a natural digital evolution for managing physical securities,” said Bob Greifeld, CEO of Nasdaq. “Once you cut the apron strings of need for the physical, the opportunities we can envision blockchain providing stand to benefit not only our clients, but the broader global capital markets.” “We are always looking at new ways to leverage technology to provide client-centric solutions,” Greifeld continued. “Our initial application of Nasdaq’s blockchain technology-enabled offering will modernize, streamline and secure typically cumbersome administrative functions, and will simplify the overwhelming challenges private companies face with manual ledger record-keeping.” Nasdaq sharpens market surveillance Related news Nasdaq (Nasdaq:NDAQ) is embracing the technology that underpins virtual currency bitcoin, with plans to use blockchain technology to help facilitate the issuance, transfer and management of securities. The exchange operator announced plans on Monday that will see it adopt blockchain technology as part of an enterprise-wide initiative. last_img read more