Major stock telephone substitution operator Nasdaq has filed a patent for a Blockchain technology-based property ownership information storage system. The arrangement uses distributed ledger engineering scientific discipline (DLT) to tape the possessor of an property as well as employs digital wallets to enable an possessor to access his/her assets.
In the
patent application that was published yesteryear the U.S. Patent as well as Trademark Office (USPTO) every bit of mid-November 2017, the telephone substitution operator detailed how Blockchain tin endure used to tape the ownership information of a especial property as well as how tin it endure accessed yesteryear its possessor yesteryear using a digital wallet.
Part of the application reads:
“Information regarding the ownership of especial assets (e.g., shares inwards a company, etc.) are stored inwards a Blockchain, as well as diverse information processing operations (referred to below every bit "application processing") are performed using this ownership information.”
Additional information on the Blockchain-based systemBased on the application, the arrangement volition exploit the Blockchain’s cryptographic hash value every bit an effective safety characteristic to protect the property ownership data. The mightiness of the Blockchain to keep the anonymity or privacy of its users is likewise i of the positive features of the technology, according to the exchange. It likewise added that each node of the arrangement volition comprise a re-create of the Blockchain’s information.
Nasdaq’s noncommittal opinion on Blockchain
Despite its patent application, Nasdaq claimed that it is non nonetheless committing to the technology. In its application, it states that:
“While distributed ledger technologies such every bit Blockchain present neat potential, farther improvements inwards the performance, efficiency, as well as capabilities of such technologies are needed.”
Earlier, the telephone substitution had voiced its concerns almost Blockchain.
In a recent statement, Nasdaq Clearing’s caput of production development, Gustaf von Boisman, claimed that the engineering scientific discipline cannot endure integrated into their existing systems immediately. He farther stated that at that spot are issues roughly implementing Blockchain-based systems into other fiscal systems.
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