Nasdaq Co-President Adena Friedman: Blockchain's explosion will take some time

Nasdaq President and Chief Operating Officer Adena Friedman told CNBC on Wednesday that blockchain technology could lead to faster and more efficient trade settlements.

Blockchain is the underlying technology of the cryptocurrency Bitcoin. The Bitcoin blockchain records all executed Bitcoin transactions and maintains a public ledger system that can be viewed by everyone around the world.

Friedman explained that blockchain technology could allow financial institutions like Nasdaq to track the ultimate owner of any asset class.

She said Nasdaq, which provides technology to more than 100 stock exchanges and clearing houses around the world, is currently exploring blockchain and its potential uses with clients.

“In our industry, reducing transaction times and freeing up bank capital is the most important thing,” Friedman said. “Over time, there will be real opportunities for blockchain. But it will take some time.”

It is reported that Nasdaq's first blockchain project is the private equity trading platform Linq. The platform is currently in the testing phase and is only open to some startups. In addition, Nasdaq has also developed a shareholder electronic voting system based on blockchain technology. The trial selected Estonia's Nasdaq OMX Tallinn Stock Exchange as a pilot.

Original article: http://www.cnbc.com/2016/04/13/nasdaqs-adena-freedman-sees-opportunity-for-blockchain-technology-in-financial-markets.html
By: CNBC
Compilation: Overnight porridge
Source (translation): Babbitt Information (http://www.8btc.com/nasdaqs-adena-freedman)