Software giant Microsoft is working to integrate its Azure blockchain technology into Nasdaq’s financial Framework (NFF). According to a communique, Microsoft will work with NFF, a software system that provides trading infrastructure and operations outsourcing. It will also fulfill Nasdaq’s risk and surveillance side of things.
They key part of the partnership is that the two are looking to create an agnostic ledger capability that will allow operations across multiple ledgers rather than restricting them to just one parent ledger. The resulting product will then allow easier buyer and selling matching for e-commerce companies, delivery management and settlement of payment and transactions.
With the Azure integration, NFF users will have the freedom to deploy various blockchains through on user interface. This move will allow promotion of the decentralized technology and help in mainstream adoption.
Tom Fay, Senior Vice President of Enterprise Architecture at Nasdaq said, “Our NFF integration with their blockchain services provides a layer of abstraction, making our offering ledger-agnostic, secure, highly scalable, and ultimately helps us continue to explore a much broader range of customer use cases for blockchain.”
Nasdaq has been gearing up for blockchain adoption for a while now and has recently revealed a new patent for an information system that automatically sends time-sensitive information to recipients via a blockchain. With the help of this latest patent, the company is looking to release information to the media in a periodic manner securely from a legal viewpoint.
Nasdaq is also studying crypto datasets and looking to add them them for their markets analytics tool. However, it is still unclear whether the company will make any direct entry into the cryptocurrency trading markets.
As for Microsoft’s Azure, it is now becoming increasingly functional with its blockchain adoption and it is working with several associated services.
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