NASDAQ Using Fintech Solutions

The company behind the NASDAQ stock exchange, the second largest exchange in the world, has joined the trend in finance and adopted financial technology.

NASDAQ announced that it would begin using blockchain technology in order to both streamline and protect services to and from the exchange. The move by NASDAQ shows just how institution and trusted fintech solutions are becoming.

Proxy voting is common for publicly traded companies, but like all traffic on the internet, it is susceptible to hacking attempts.

NASDAQ believes blockchain technology should be used to protect transactions and proxy votes for its clients. The Tallinn Stock Exchange in Estonia will be the one of the first partners to the stock exchange group. This is technically not the first ledger system used by NASDAQ, with the group utilizing blockchain to provide ledger services to clients in its first blockchain project last year.

Financial technology solutions are becoming more and more integral in the traditional financial sector.

NASDAQ’s president Hans-Ole Jochumsen has hailed blockchain and other fintech innovations as the future of the sector and financial regulations in general as well.

Estonia was chosen as the site of NASDAQ’s second blockchain project because of its highly informational society. “We’re excited to see the development of this project over the coming months, and look forward to working closely with the government of Estonia to set a transformative example of the future of governance,” said Jochumsen.