Tech content trusted by users in North America and around the world
7,299 Reviews & Articles | 53,285 News Posts

Nasdaq using bitcoin technology for secure, efficient stock trades

Nasdaq wants to embrace bitcoin technology for a few different purposes
By: Michael Hatamoto | Business, Financial & Legal News | Posted: May 12, 2015 8:09 pm

Nasdaq may not be fully on the bitcoin bandwagon, but has found some bitcoin-related technology it will be able to leverage in the future. Specifically, the bitcoin blockchain will be leveraged, as it can provide a more efficient, fully-electronic service that can be used to keep records for the Nasdaq Private Market.

 

nasdaq-bitcoin-technology-secure-efficient-stock-trades_01

 

If nothing else, this is an important step to show that bitcoins have major potential in the financial and trading markets.

 

"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."

 

This will be a curious effort by Nasdaq, as it is one of the first major financial services that wants to adopt the blockchain - but using it in a non-currency method.

NEWS SOURCES:Money.cnn.com, Tradersnetwork.biz, Nasdaq.com

Related Tags

Got an opinion on this news? Post a comment below!
loading