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Nasdaq launches blockchain technology initiative
Posted On 21 May 2015
Nasdaq announced last week it plans to leverage blockchain technology as part of an enterprise-wide initiative. The stock exchange said in a press release that it will initially leverage the Open Assets Protocol, a colored coin innovation built upon the blockchain. Nasdaq will develop blockchain-enabled digital ledger technology that will be used to expand and enhance the equity management capabilities offered by the Private Market platform.
“Utilizing the blockchain is a natural digital evolution for managing physical securities,” said Bob Greifeld, CEO of Nasdaq, in the press release. “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.”
Greifeld added, “We are always looking at new ways to leverage technology to provide client-centric solutions. 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 also announced that Fredrick Voss, vice president at Nasdaq, has been named the company’s Blockchain Technology Evangelist to lead the strategic development of this initiative.
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Noting that blockchain transaction costs seem to have settled at about $5, it would be interesting to see if Wall St. can implement investment trading with around $6 per transaction. For $1000 trades, that rather beats the competition and will hopefully lead to fairer pensions and savings for the general public than the 1980’s frenzy of parasitic trades on big bonuses all funded from junk bond scams.
One thing which bitcoin won’t do though, is to support leveraged borrowing. With there being arguably too much of that around for the good of the hardworking, perhaps we’ll see sense in the end.
One thing which I’m on the lookout for is a good platform for nanobitcoin trading, where a smaller regional blockchain-summary is checked with blockchain methods, but only $1000 aggregation goes to the international main blockchain. As I see it, one Raspberry-Pi B2 and two numerate and diligent individuals are sufficient to keep the village blockchain ledger, and then their peers can trade chickens and sacks of grain without cluttering up the $5 per trade international blockchain nor giving money to anyone as harmful as the banks.