NASDAQ CEO Says Blockchain Technology is Impressive, Not Always Suitable
The blockchain technology based solution used by Nasdaq to settle trades has very less capacity compared to actual trade volumes handled by the market. Nasdaq CEO Robert Greifeld, in his recent comment, has mentioned that the bitcoin blockchain may not be the ideal system to be implemented for the automated trade settlement system. In an interview given to the Wall Street Journal, Robert expressed his concerns with Bitcoin’s inability to handle more than 10 transactions per second, which is a lot less than what the activity on an average trading day looks like. Nasdaq is reported to handle....
Related News
Overstock has confirmed that Nasdaq is not using its tØ blockchain platform to clear trades. Rumours suggesting that Nasdaq - which unveiled its own blockchain-based platform last week - was using the online retailer's blockchain platform to settle trades first surfaced on Reddit earlier today. However, a representative from Overstock told CoinDesk: "That thread is completely mistaken. NASDAQ is doing something similar to, but not using our platform." First announced in May, Nasdaq Linq will facilitate the transfers and sale of stock in private companies. The product is currently being....
The leading stock exchange Nasdaq is no newcomer to the brave new world of blockchain technology. In May, Bitcoin Magazine reported that Nasdaq would begin experimenting with the blockchain technology that powers Bitcoin, starting with a pilot project in Nasdaq Private Market, a marketplace that handles pre-IPO trading among private companies. Interestingly, Nasdaq didn't plan to develop an alternative blockchain. Rather, the company said that it would leverage the colored coin protocol Open Assets, which works on the original Bitcoin blockchain. In June, Nasdaq partnered with San....
Nasdaq CEO Bob Greifeld has suggested that the US-based stock market plans to roll out additional blockchain projects "in the future". The comments are the latest from the firm, which announced plans to trial blockchain technology as part of its Nasdaq Private Market service in May. Nasdaq revealed in June that it had established a formal relationship with blockchain services provider Chain. Greifeld's most recent statement was made in a conference call in which he hinted at the stock exchanges's strategy toward the technology, according to Bloomberg. Greifeld said: "The application of....
Although Bitcoin has not yet reached Wall Street, its underlying blockchain technology will soon be right in the middle of the action. NASDAQ OMX, the company behind the NASDAQ stock exchange, revealed that it is testing a system that uses blockchain technology to oversee stock trades on a separate market solely for private companies. The reasoning behind the idea of using the blockchain without Bitcoin holds that the cryptocurrency is too flawed to replace existing currencies. However, even though Bitcoin is questionable, adherents of this idea admit that blockchain technology can....
2015 ended with big news on the Bitcoin front. The Bitcoin company Chain used the Nasdaq Linq platform to “digitally represent” a record of ownership on a private blockchain. Nasdaq had announced its debut blockchain platform in May. In October, Nasdaq announced its initial private clients for its blockchain platform: Chain.com, ChangeTip, PeerNova, Synack, Tango and Vera. Nasdaq also unveiled its first-ever demonstration of blockchain technology at the Money 20/20 event in Las Vegas. “The first platform of its kind, Nasdaq Linq is a digital ledger technology that leverages a blockchain to....