New Nasdaq Private Market Pilot using Bitcoin technology can usurp Wall Street lawyers

[muh_roads]

http://www.ibtimes.co.uk/nasdaqs-blo...awyers-1500656



Bitcoin's blockchain technology is set to usurp Wall Street lawyers in the Nasdaq Private Market pilot(FDA)

Nasdaq OMX group has announced that it will use bitcoin's blockchain technology to facilitate the trading of shares in its stock market, signalling the most significant show of interest from Wall Street in the cryptocurrency and its underlying technology.

The pilot project, launched in Nasdaq Private Market, has the potential to transform the way private companies conduct pre-IPO trading and, if successful, could mean the end to lawyers and other middlemen traditionally used to verify the sales and transfers of shares of private companies.

Currently, companies rely on costly and inefficient lawyers to authenticate transactions by hand through informal systems, such as spreadsheets.

The decentralised "trustless" nature of the blockchain means that direct transfer of ownership of shares can take place instantly without the risk of default, manipulation, or the additional cost of an intermediating third party.

Such a system has the potential to be rolled out across a wide range of industries, cutting the need for lawyers and other intermediaries. In theory, the bitcoin protocol could be used in almost any type of exchange between two parties - from property to wedding vows.

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The blockchain could replace middlemen across a wide range of industries(IBTimes UK) Several high profile names within the financial industry have jumped aboard the bitcoin bandwagon in recent months, leaving big ticket investment banks to join cryptocurrency-related startups.

Continued...

[Barrex]

Am I billionaire yet?

[presence]

[muh_roads]

Dude 1broker has opened my eyes.

Everything has already been blockchains the entire time, but it is full reserve. When ppl trade on exchanges, they are trading on USD blockchains against BTC's Blockchain. I think most already figured that out but it's really cool to think about. You can't create blockchain value out of thin air. It has to be pegged to something. BTC has a value.

Nasdaq will probably allow people to trade BTC and other pairs as well. Not sure about LTC, but I could see Factom as rising. Bitcoin Sidechains will probably make Factom not as desired if it needs value to continue. The Bitcoin Sidechain version of Factom as an upgrade is just something your BTC can now do in terms of title land value, etc.

Open-source is gonna suck the value out of the competition.

Long-story short, I think Nasdaq wants BTC holders to trade with the bigger players that would love to take BTC from inexperienced ppl...lol

Human greed will continue to fuel BTC.