Nasdaq promotes blockchain applications in Estonia

According to foreign media reports, Nasdaq is seeking to expand the scope of its blockchain application services and has decided to promote its blockchain application services, including equity trading platforms based on blockchain technology, to Estonia. At the end of last month, Nasdaq announced that it would soon launch the blockchain equity trading platform Linq.

Nasdaq is the world's second largest stock exchange and has become one of the most prominent financial giants to enter the emerging technology field. Earlier this year, Nasdaq announced that it would enter the blockchain field, adopt the emerging technology - blockchain technology, and cooperate with blockchain startup Chain to develop a blockchain-based equity trading platform with the aim of simplifying the process of equity transfer.

In an interview with Reuters, Nasdaq co-president Hans-Ole Jochumsen said the new blockchain applications will be used to improve proxy voting processes, company registration and public pension registries, and that Nasdaq has reached a cooperation agreement with the Estonian government on these pilot projects.

The Bitcoin blockchain, and other similar distributed ledger systems inspired by it, will revolutionize the securities trade settlement process.

Other applications are also being explored, including voting systems based on blockchain technology.

Jochumsen believes that Estonia is a good place to test these new applications because of its small population (13 million) and the fact that Nasdaq owns the Tallinn Stock Exchange, the only compliant secondary securities market in the region, and the Estonian Central Securities Depository (ECSD), which manages its share registry.

Jochumsen said:

"It's a smaller country, so the environment for the trial won't be complicated, and the Estonian government is very keen on using new technologies, and the Estonian government says Estonia is always at the forefront of using new technologies in the world."

Just after Nasdaq announced its blockchain plan at the beginning of the year, Estonia's LHV Bank also expressed its interest in blockchain. On June 9 this year, the bank announced that it was developing a financial product based on colored coin technology. This colored coin technology is developed based on the Bitcoin network.

Original article: http://www.financemagnates.com/cryptocurrency/innovation/nasdaq-to-develop-blockchain-securities-applications-in-estonia/
Translator: printemps
Editor: printemps
Source (translation): Babbitt Information