Nasdaq’s blockchain-powered trading platform set to debut

Time and again it has been said that the blockchain technology is not just limited to bitcoin, but has much broader applications. Setting such a precedent, Nasdaq in May announced Linq – a digital ledger technology powered by blockchain that facilitates the issuance, cataloging and recording of transfers of shares of privately-held companies on The NASDAQ Private Market.

On Tuesday, the company revealed the “initial roster of private company clients” for Linq and said that a first-ever demonstration of the technology will take place at the Money20/20 event. The first participants will include Chain.com, ChangeTip, PeerNova, Synack, Tango and Vera.

The platform was developed by the company's in-house technologists in collaboration with blockchain technology provider Chain.com and an innovation and design firm IDEO. 

"Chain is thrilled to be powering Nasdaq Linq and to be an inaugural client of this innovative new platform," said Adam Ludwin, CEO of Chain.com. "We are excited to leverage Nasdaq Linq to issue and manage our company's securities in a more efficient and transparent way."

Linq – the first platform of its kind, will complement ExactEquity, NASDAQ Private Market's cloud-based equity management solution. Its clients will be provided with a comprehensive, historical record of issuance and transfer of their securities, offering increased auditability, issuance governance and transfer of ownership capabilities.

"We are extremely encouraged by the initial demand for Nasdaq Linq from these innovative, first-mover companies, and the validation it represents of our application of blockchain technology," said Bob Greifeld, CEO, Nasdaq. "Blockchain applied to the private market is innovation built on top of innovation, and carries with it the opportunity to forever alter the future of financial services infrastructure."