Nasdaq look into blockchain storage for asset data

Nasdaq look into blockchain storage for asset data

The operator of the global stock exchange, Nasdaq, is exploring the possibility of storing asset ownership information on a blockchain.

A recent patent application to the U.S. Patent and Trademark Office shows the company’s outline of how it could utilise a distributed ledger to keep a record of who owns an asset, as well as provide digital wallets to enable owners to access their assets.

The application acknowledges each block’s cryptographic hash value as an appealing feature, exclaiming that the fact a blockchain is immune to modification from malicious third parties serves as an effective security protocol for protecting the data of asset ownership.

Users can maintain privacy even when using a public blockchain; a fact that only further increases the attractiveness of the technology, according to the patent application.

Nasdaq’s commitment would be to a distributed network in which each node would contain a copy of the blockchain’s data, as expressed in the application.

Nasdaq’s interest should only be interpreted as them looking into distributed ledgers for the storage of ownership information, however, they are not necessarily committing fully to the technology.

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