“The Wall Street Journal reports that the Nasdaq is experimenting with blockchain technology in a pilot project, a move that could — if successful — transform the financial industry. Nasdaq is hoping to bring the efficiency promised by the blockchain to other areas of finance, potentially dramatically reducing the need for lawyers and intermediaries. Nasdaq is implementing the technology in its Nasdaq Private Market, ‘a fledgling marketplace launched in January 2014 to handle pre-IPO trading among private companies.’ Once a deal is done, the parties would cryptographically sign a contract, and the rights would be transferred over almost instantaneously — no lawyers required.”
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