Nasdaq joins hands with Chain

A visitor walks through the new lobby of the Nasdaq in New York. The exchange operator said yesterday it partnered with blockchain infrastructure provider Chain to make digital ledger technology available to private companies that issue and transfer shares on the Nasdaq Private Market.

Reuters/New York

Exchange operator Nasdaq OMX Group said yesterday it partnered with blockchain infrastructure provider Chain to make digital ledger technology available to private companies that issue and transfer shares on the Nasdaq Private Market (NPM).
The blockchain is a shared distributed ledger that records and is the repository of digital assets. It is also the mechanism parties can use to transfer those assets.
The technology, which will be rolled out on NPM later this year, is the same type that underpins the digital currency bitcoin. Nasdaq and Chain said it will make it easier for private companies to keep track of the shares they issue and to settle transactions. “Having an immutable record from the inception of a company through the various financings and exits, that is indisputable, that is shared and open, is going to create a better corporate governance model,” Chain Chief Executive Officer Adam Ludwin said in an interview.
Nasdaq launched its market for private companies in 2014 following the passing of the Jumpstart Our Business Startups Act (JOBS) in 2012, which increased the amount of shareholders an unlisted company can have to 2,000 from 500. The market was designed to make it easier for investors of private companies to exit, including helping employees with a large portion of their compensation tied to shares to sell them when needed.
Chain is

Originally appeared at: http://www.gulf-times.com/eco.-bus.%20news/256/details/444519/-nasdaq-joins-hands-with-chain

Nasdaq joins hands with Chain is a story from: BitcoinWarrior.net

Source

TheBitcoinNews.com – leading Bitcoin News source since 2012