Based on a recent report, Blockchain technology has brought about the collaboration of a tech giant—Microsoft and the world’s second largest stock exchange—Nasdaq. The two companies will be collaborating together to build a ledger agnostic blockchain capability that supports a multi-ledger strategy—the Nasdaq Financial Framework (NFF).
Nasdaq Financial Framework (NFF).
Nasdaq which has been exploring various ways through which it can take advantage of blockchain technology has made it known that it will be making use of the Microsoft Azure blockchain to manage the delivery, payment, and settlement of transaction on its the Nasdaq Financial Framework (NFF).
Nasdaq has always been taking advantage of technology right from its early days. The company has been identified to be the first stock exchange to open an electronic stock exchange, as far back in 1971. So it of no surprise that the company is moving towards blockchain technology to aid in its delivery of cutting-edge services to its clients.
A case in point is that of the Nasdaq Financial Framework (NFF) which the company is looking to powers making use of the Microsoft Azure blockchain.
The integration of the NFF platform with Microsoft Azure Blockchain is targeted at building a ledger agnostic blockchain capability that supports a multi-ledger strategy,
Nasdaq’s Head of Product Management, Magnus Haglind has perfectly described the objectives of the NFF platform through a statement. He stated that:
“Our [capital markets] industry is evolving faster than ever with the advent and advancement of cloud, the blockchain, machine intelligence and others. Key players in the industry are looking to these technologies to explore how they can become more effective and efficient, but also gain competitive advantage.”
Another key person from Nasdaq, Tom Fay (Senior Vice President of Enterprise Architecture), further articulated the potential of multiple blockchains with different payment mechanisms.
Fay stated that:
“With multiple blockchains in use by various industry participants, we believe that the combination of NFF and Microsoft’s blockchain technology can remove some of the project complexities that exist in this realm. Additionally, as more industries move towards capital markets technology and structures, we see the potential for blockchain to provide value in a secure, frictionless and instantaneous matching of buyers and sellers.”