NDAQ today announced that an issuer was able to use its Nasdaq Linq blockchain ledger technology to successfully complete and record a private securities transaction - the first of its kind using blockchain technology. This transaction represents a major advance in the application of blockchain technology for private companies. For this transaction, Nasdaq enabled the issuer to digitally represent a record blockchain technology nasdaq pre ownership using Nasdaq Linq, while significantly reducing settlement time and eliminating the need for paper stock certificates.
In addition to its equity management function, Nasdaq Linq also provides issuers and investors an ability to blockchain technology nasdaq pre and execute subscription documents online.
Nasdaq's use of blockchain technology also holds promise for expediting trade settlement blockchain technology nasdaq pre transactions in public markets. Blockchain technology has the potential to assist in expediting trade clearing and settlement from the current equity market standards of three days to as little as ten minutes.
As a result, settlement risk exposure can be reduced by over 99 percent, dramatically lowering blockchain technology nasdaq pre costs and systemic risk. Blockchain technology nasdaq pre addition, this blockchain technology nasdaq pre could allow issuers to significantly lower the risk and the administrative burden of what is largely a manual and multi-step process today.
The implications for settlement and outdated administrative functions are profound. It was seamless and met our objective of drastically reduced manual ownership transfer. In November, Nasdaq announced that it is exploring the application of its blockchain technology to proxy voting in Estonia.
Further progress with Nasdaq's enterprise-wide blockchain initiatives is expected to be announced in Chain is not a public company and its securities are not available in the public markets.
No offering of securities is being made, and no solicitation of an offer to buy securities is being made; any description of a transaction is solely for informational purposes pertaining to Chain's use of Nasdaq's technology. The matters described herein blockchain technology nasdaq pre forward-looking statements that are made under the Safe Harbor provisions of the Private Securities Litigation Reform Act of These statements include, but are not limited to, statements about Nasdaq Linq and Nasdaq and its other products and offerings.
We caution that these statements are not guarantees of future performance. Actual results may differ materially from those expressed or implied in the forward-looking statements.
Forward-looking statements involve a number of risks, uncertainties or other factors beyond Nasdaq's control. These factors include, but are not limited to developments in blockchain technology including by competitors, potential new regulations, and factors detailed in Nasdaq's annual report on Form K, and in periodic reports filed with the U. Securities and Exchange Commission. We undertake no obligation to release any revisions to any forward-looking statements. NDAQ is a leading provider of trading, clearing, exchange technology, listing, information and public company services across six continents.
Through its diverse portfolio of solutions, Nasdaq enables customers to plan, optimize and execute their business vision with confidence, using proven technologies that provide transparency and insight for navigating today's global capital markets. As the creator of the world's first electronic stock market, its technology powers more than 70 marketplaces in 50 countries, and 1 in 10 of the world's securities transactions.
To learn more, visit: Chain's platform enables the secure issuance and management of digital assets on a blockchain network. Chain's customers span the payments, banking, capital markets, telecom and energy markets. Previous Release Next Release. Note to Editors Chain is not a public company and its securities blockchain technology nasdaq pre not available in the public markets. About Nasdaq Nasdaq Nasdaq: The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
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