MarketsMuse Tech Talk update profiling Wall Street’s latest embracing of Bitcoin technology and a look at 11 May announcement from NASDAQ is courtesy of extracts from CNN.com and WSJ.
The Nasdaq stock exchange is tapping Bitcoin’s powerful new transaction technology to create a more secure, efficient system to trade stocks. Step 1: Pilot to take place in fledgling Nasdaq Private Market.
High-tech bankers are starting to realize Bitcoin could revolutionize trading. Nasdaq (NDAQ), a favorite exchange among many technology companies, is making the first move.
On Monday, the stock market announced it will start using a blockchain system to keep records for its Nasdaq Private Market, which handles trading of shares in the pre-IPO phase before a company goes public.
Nasdaq sees the blockchain’s perfect recordkeeping as a major step in the right direction for more transparency. The pre-IPO market doesn’t typically see as much trading and what does occur is often by a tight circle of employees and early investors.
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