2015: The Year Nasdaq Met The Blockchain
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 facilitate the issuance, cataloging and recording of transfers of shares of privately-held companies on The NASDAQ Private Market,” the company stated in October. “It will complement ExactEquity, NASDAQ Private Market’s cloud-based capitalization table management and stock plan administration solution.”
The purpose of Nasdaq Linq is to provide clients with an accurate and detailed historical record of securities issuance and transfers.
“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 CEO of Nasdaq, Bob Greifeld, at the time. “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.” During 2015, Nasdaq also looked to manage proxy voting with blockchain technology in Estonia.
Throughout the year, the company partnered with some of the leaders of the Bitcoin industry. Chain.com leads blockchain infrastructure services for financial institutions and enterprises. ChangeTip enables people to tip other people online using Bitcoin. PeerNova allows cryptographic ledgers and data solutions inspired by the blockchain. Synack is a cyber security company built on their patented Crowd Security Intelligence™ model. TangoMe, Inc. is a free mobile messaging app with over 300 million registered members. Vera, a “first-of-its-kind”, allows businesses to secure and track digital information across platforms and devices.
The company partnered with Chain and Changetip to design a Nasdaq-created private blockchain platform.
“We believe this successful transaction marks a major advance in the global financial sector and represents a seminal moment in the application of the blockchain technology,” Nasdaq CEO Bob Greifeld said.
A leading provider of trading, clearing, exchange technology, listing, information and public company services on six continents, there’s no doubt that Nasdaq represents one of the biggest players in the Bitcoin industry. Nasdaq houses over 3,600 listed companies with a market value of about $8.8 trillion.
Before Nasdaq had announced its plans to adopt blockchain technology, Bitconist.net theorized how the technology could fuel Wall Street.
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Images courtesy of Nasdaq