Nasdaq is getting ready to launch its Linq trading platform using Blockchain technology – and has named the first companies that are going to use the trading system.
The first participants will include:
Chain.com
ChangeTip
PeerNova
Synack
Tango
Vera
Nasdaq unveiled the demonstration of its blockchain technology at the Money20/20event Tuesday 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. It will complement ExactEquity, NASDAQ Private Market’s cloud-based capitalization table management and stock plan administration solution.
Nasdaq Linq clients will be provided with a comprehensive, historical record of issuance and transfer of their securities, offering increased auditability, issuance governance and transfer of ownership capabilities.
“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, CEO, 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.”
Announced in May as the debut platform in Nasdaq’s enterprise-wide blockchain technology initiative, Nasdaq Linq was developed by the company’s in-house technologists in collaboration with blockchain technology provider Chain.com and human-centric, user experience contributions from award winning global design and innovation firm IDEO.
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.
