Nasdaq COO: Blockchain technology still has development opportunities

Crazy Commentary : The Bitcoin Foundation believes that blockchain technology is unlikely to cause banks to panic. Established financial institutions such as Nasdaq are also actively exploring the application of blockchain technology in their businesses. It is believed that blockchain technology still has development opportunities.

Translation: Annie_Xu

Nasdaq Chairman and Chief Operating Officer Adena Friedman told the media that blockchain technology can bring faster and more efficient transaction settlement.

Blockchain technology is the underlying technology of the digital currency Bitcoin. It records all Bitcoin transaction records and establishes and maintains a public ledger system of data that can be seen by anyone around the world.

Adena Friedman

She explained that blockchain technology could enable financial institutions such as Nasdaq to track the ultimate owner of any asset.

Nasdaq, which provides technology support to more than 100 exchanges and clearing houses around the world, is also now talking to clients about blockchain technology and its potential applications.

“In our field, the focus of blockchain technology is mainly to shorten settlement time, free up capital tied up by banks and clearing houses, and manage risks. In the future, blockchain technology will definitely have opportunities for development, but it will take some time.”

Brock Pierce, chairman of the Bitcoin Foundation, told the media earlier that the panic that blockchain will make banks obsolete is unlikely to happen.