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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