Nasdaq Reveals List of Clients for Blockchain-based Private Share Platform
Nasdaq has revealed the initial roster of clients for Nasdaq Linq, its blockchain-enabled platform. The first participants will include: Chain.com, ChangeTip, PeerNova, Synack, Tango and Vera.
Nasdaq unveiled a demonstration of its blockchain technology at the Money20/20 event today in Las Vegas.
Nasdaq Linq is a digital ledger technology that leverages a blockchain to facilitate the issuance, cataloging and recording of transfers of shares of privately-held companies on the NASDAQ Private Market. Linq will complement ExactEquity, NASDAQ Private Market’s cloud-based capitalization table management and stock plan administration solution. Customers using Linq 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.
Bob Greifeld, CEO, Nasdaq, noted:
“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. 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.”
Announced in May, Linq was developed by the Nasdaq’s internal technologists in partnership with blockchain technology firm Chain.com and human-centric, user experience contributions from IDEO.
Adam Ludwin, CEO of Chain.com, said:
“Chain is thrilled to be powering Nasdaq Linq and to be an inaugural client of this innovative new platform. We are excited to leverage Nasdaq Linq to issue and manage our company’s securities in a more efficient and transparent way.”
Nasdaq recently announced it will undertake an effort to manage proxy voting via blockchain technology in Estonia, as its next proof-of-concept for the company’s blockchain initiative.