During the last couple of months, financial institutions have shown a growing interest for bitcoin and the blockchain. NASDAQ now claims that they have managed to break new ground on the use of the system, by making their first share sale using the blockchain technology.
The blockchain is basically an electronic ledger consisting of digital events which uses cryptography to verify blocks of records, and then distributes them among parties. As it provides cheaper and faster transactions, it’s no wonder that banks and other financial institutions are interested in the technology.
Once NASDAQ has made the announcement, a scuffle over who made the first share sale using the blockchain was provoked. Chain.com, which is a privately owned company specializing in blockchain issued a couple of shares to an US investor by using the US exchange’s LINQ system, which is also based on digital ledger technology.
Following the completion of the transaction, NASDAQ stated that the blockchain technology will clearly speed up settlement processes, the trading of equity trades and monetary transfers. Supporters of the technology also agree that by switching entirely to the new technology, banks and exchanges will finally become trustworthy to the masses again.
Based on everything that has been outlined so far, what do you think about the growing interest in the blockchain, and the first share sale completed using the system? Let us know your thoughts in the comment section below.
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