Nasdaq is going to store asset data on Blockchain

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In a patent application recently released by the U.S. Patent and Trademark Office, the company sets out how it could use a distributed ledger to register who owns the asset, and use digital wallets to allow owners to access these assets.

The application marks the cryptographic hash value of each block as an attractive function, stating that the fact that a blockchain cannot be modified by malicious actors acts as an effective security function when protecting asset ownership data.

According to the statement, the fact that users can maintain confidentiality even with the help of a public blockchain, only adds the attractiveness to the technology.

Nasdaq would transmit a distributed network, where each node would contain a copy of the information about the blockchain in accordance with the application.

Nasdaq is studing distributed ledgers to store information about the owner, but does not necessarily oblige to use this technology.

The stock exchange has previously expressed concern about blockchain technology. Earlier this month, Gustav von Boisman, head of product development at Nasdaq Clearing, said that the technology cannot be immediately implemented in existing systems.

At that time, Boisman said that the problems are related to the integration of systems based on blockchain with other financial systems.