Nasdaq rewarded for creating a unique information release system purely based on smart contracts
Nasdaq the most popular and world’s second-biggest stock exchange according to its market cap, officially reveals an all-new blockchain patent award on Tuesday, in order to eliminate the leak of information in the media industry.
The drafted application was initially filed in January last year, in reference to, “an information computer system, which was created to securely give out time-sensitive information and reports to users through a blockchain network.”
Nasdaq states that the issue at present is to regularly release complex information to media channels whereas on the other hand ensuring that is safe and secure from any legal constraints.
There is a high possibility of using blockchain tech or smart contracts to regulate and release data securely from time to time.
The patent explains the process wherein, “A user submits a recognized document to the system which generates a blockchain transaction and resubmitted to blockchain system based on the document. An editor could easily edit or moderate the document file and forward it for approval, and then the document is finally released to the recipients.”
The patent further states Nasdaq’s earlier contributions in the cryptocurrency and blockchain space. Earlier in June, the company ran a test roll for a blockchain proof-of-concept system designed for securities and collaterals.
Back in the month, Nasdaq officials were planning on integrating cryptocurrency data to its market analytics platform, which users were quite reluctant toward.