R3 formally announced they’ve entered into a partnership with NASDAQ. R3 is probably the biggest enterprise-focused, private distributed ledger platform and consortium for institutional use.
R3 stated that Nasdaq will use its blockchain software, Corda, among other services to help financial institutions easily build and deploy institutional-grade digital assets.
As a long-term, non-exclusive partnership between the two firms, Nasdaq can also still collaborate with other blockchain solution providers to develop other projects.
Like our approach at 10XTS, R3 stayed completely away from public cryptocurrency networks, instead focusing on compatibility with highly regulated environments.
Nasdaq plans to bridge the gap between financial institutions and blockchain-based digital asset solutions. This will help organizations do things like issue tokens and build digital asset marketplaces. They will also support these organizations through various processes such as issuance, trading, settlement, and custody.
Nasdaq is readying itself to deliver its services to organizations as they realize the potential of digitization and move from manual processes to digitized means.
In the very near future, we will see various financial and non-financial marketplaces for trading tokenized physical assets. This will increase the transparency in the market, reduce friction, increase speed, and boost liquidity across disparate markets.
What does that mean for us?
In the words of the great Rick Derringer, “Rock and roll hoochie koo, lawdie mama light my fuse”.
The 10XTS platform is designed to connect to these environments and intersect the records management and documents about real world assets in a decentralized trade data environment – not only allowing us to directly connect to NASDAQ, but any other similar exchange or trading platform environment.
In fact, we’ve positioned ourselves to help smaller institutions, investors, funds, etc… without the R&D budgets of NASDAQ and big banks to also connect to this emerging digital framework.
As the U.S. Treasury Central Bank Digital Currency comes online, this will become more and more necessary as we transition away from the current monetary and banking models.
Are your assets ready for all of this? We can help you get there faster.
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- Solving the Trillion Dollar Problem Plaguing Capital Markets and Financial Services - August 8, 2020
- Real World Assets Give Blockchain Tokens Real World Value - August 5, 2020
- Governance, Cryptocurrency’s Big Problem - July 28, 2020
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