Greifeld: the blockchain is the 'natural evolution' of the market

Greifeld: the blockchain is the ‘natural evolution’ of the market

Nasdaq’s first fruits from its enterprise-wide blockchain technology plan,the Linq share ownership platform, has attracted an initial group of users it was announced at the Money20/20 conference in Las Vegas this week.

The first users on the platform include financial network company Chain.com, online payments company ChangeTip, enterprise blockchain company PeerNova, cyber security specialist Synack, free calling/messaging company Tango and data security specialist Vera.

Nasdaq first outlined its plans in this area back in May. Linq uses distributed ledger technology to create a comprehensive, historical record of issuance and transfer of securities for its users, which should provide increased auditability. Developed by Nasdaq’s in-house technologists working together with Chain.com and innovation firm Ideo, the platform is intended to complement Nasdaq’s cloud-based table management and stock plan tool ExactEquity.

“We are extremely encouraged by the initial demand for Nasdaq Linq from these innovative, first-mover companies, and the validation it represents of our application of blockchain technology,” said Bob Greifeld, chief executive at Nasdaq. “Blockchain applied to the private market is innovation built on top of innovation, and carries with it the opportunity to forever alter the future of financial services infrastructure.”

“Chain is thrilled to be powering Nasdaq Linq and to be an inaugural client of this innovative new platform,” said Adam Ludwin, chief executive of Chain.com. “We are excited to leverage Nasdaq Linq to issue and manage our company’s securities in a more efficient and transparent way.”

Nasdaq recently announced it will undertake an effort to manage proxy voting via blockchain technology in Estonia, as its next proof-of-concept for the company’s blockchain initiative.

 

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