Nasdaq plans blockchain technology

Bitcoin has image issues. This currency is extremely controversial almost from the moment of debut. Using Bitcoin in illegal markets, losing hundreds of millions of dollars from a popular exchange market and other events of a similar nature cast a shadow on the reputation of cryptocurrency.

But all this in no way affects the underlying technology, the blockchain, which in general is a decentralized database of transactions in the network. Nasdaq wants to prove the applicability of the blockchain technology, first in its platform (Private Market), and, if everything goes well, eventually in the stock market.

Wallet address - a unique identifier within the system for receiving and sending funds. It is a 160-bit hash from the public key of the ECDSA key pair. Only 34 characters. Numbers, lower and upper case letters are allowed. The first character inside the Bitcoin network is always “1 ″. The remaining 33 characters are the hash of the client's public key. The transaction in the blockchain technology is the basis of the system, which is represented as a record in the storage that is built into the NoSQL wallet. Wallet addresses do not fall into the blockchain until the address is received.

Nasdaq wants to use blockchain to simplify transaction verification, speed trading and increase reliability.

CoinDesk notes that Nasdaq is not the first company to positively evaluate the potential of blockchain. Various investment banks, venture capitalists , and data professionals in the financial industry have high hopes for technology. And this is not a bunch of paranoids who advocate cryptocurrency as a replacement for traditional means of payment, but some of the smartest people in the field of finance extol the virtues of the new technology.
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The first use of blockchain technology for Nasdaq will be ExactEquity, a fully electronic distributed accounting solution. The announcement of the tool is scheduled a little later this year.