Nasdaq Financial Framework And Microsoft Azure Blockchain Services Enter New Partnership

Nasdaq Financial Framework And Microsoft Azure Blockchain Services Enter New Partnership

Every single person in the finance industry knows Microsoft and Nasdaq, and there are many people that have played a role in their rising stocks. Institutional investors trust them, and their recent decision to collaborate simply makes them stronger. One of their first areas of interest to explore is blockchain technology.

Microsoft will be providing their Azure blockchain services, which Nasdaq plans to integrate directly into their Financial Framework. The software makes it possible for traders, exchanges, and clearinghouses to maintain a clear line of communication, and the company recently added a proof-of-authority algorithm to the blockchain. Nasdaq customers will reap the benefits of their blockchain system to combine multiple technologies. As an example, buyers and sellers will be effortlessly matched, as the delivery and settlements are managed as well.

Nasdaq Financial Framework will also provide customers with benefits. According to a press release from Bloomberg,

“Nasdaq Financial Framework plans to offer customers the ability to use different blockchains through one common interface, which the company hopes will ease and accelerate blockchain use and let customers choose which option is best for different situations.”

Nasdaq’s senior vice president of enterprise architecture, Tom Fay, commented that this partnership eliminates some of the trouble that comes with introducing blockchain to a pre-existing ecosystem. He also said,

“Our NFF integration with their blockchain services provides a layer of abstraction, making our offering ledger-agnostic, secure, highly scalable, and ultimately helps us continue to explore a much broader range of customer use cases for blockchain.”

A new patent was awarded to Nasdaq on October 23rd last week. It references “an information computer system […] provided for securely releasing time-sensitive information to recipients via a blockchain.” The patent will hopefully help them to continue the flow of timely information to the media, while keeping that same information secured.

When Bill Dague, the head of alternative data with Nasdaq, spoke to CoinTelegraph in an interview, he added that the company is planning to add crypto datasets to the market analytics tool. However, there have been no suggestions about whether they plan to actually launch their own crypto-related product.

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