Nasdaq Files For Blockchain-Based Asset Ownership

8 months ago admin2 Comments Off on Nasdaq Files For Blockchain-Based Asset Ownership

The increasing pace of Blockchain adoption is evident in recent patent filing from one of the biggest names in the world, Nasdaq. The company has just filed a patent for a Blockchain-based asset ownership system. Based on the filing, Nasdaq intends to use the system to record and control the transfer of asset ownership in a secure way. The filing states:

“The server computer system is configured to: record on the Blockchain, by transmitting one or more electronic messages to the distributed Blockchain computer system, ownership information of respective groups of one or more units of an asset for each of a plurality of owners of the asset. And to configure, for each of one or more of the plurality of owners, a digital wallet corresponding to one of the said groups of one or more units of the asset, the digital wallet being associated with a private cryptographic key and at least one Blockchain address generated based upon the private cryptographic key.”

Blockchain patents seem to be coming fast and furious these days, especially among banking and finance corporations. The indication is that the financial community is seeing the power and efficacy of Blockchain.

The filing comes after a previous spate of filings from the Nasdaq, all related to financial transactions and control. The company continues to make headway in the nascent technology field.