According to Microsoft Azure’s press release, Azure would allow Nasdaq to trade infrastructure and outsource operations. The technology also fulfills the exchanges risk and surveillance offering.
As part of the partnership, the two companies will create a ledger agnostic blockchain protocol to allow operation across multiple ledgers. Reportedly, this new product is designed to facilitate easy management of delivery, matching buyers with sellers, and settlement of transactions.
The Azure Blockchain would give NFF customers the ability to run several blockchains using one interface while promoting the development of blockchain.
Senior Vice president at Nasdaq, Tom Fay revealed that the partnership eliminates several complexities of using Blockchain with current infrastructures. Fay further added that the integration would make the company’s offering secure, highly scalable and ledger-agnostic. That will ultimately come in handy as the company continues to explore a wide range of blockchain user application.
Nasdaq recently unveiled a new blockchain patent, referencing information computer system designed to release time-sensitive information securely. The patent will allow the company to make it easy to release timely information to the press while keeping it confidential and secure.
Earlier last Month, Bill Dague – Head of Alternative Data at Nasdaq, revealed the company is adding crypto datasets to their market analytic tools. However, it’s unclear whether the company will develop a crypto-related product.
Azure introduced a POA (Proof-of-Authority) algorithm in August on its Ethereum product. The algorithm operates on the principle of validators (approved identities) on a blockchain technology that doesn’t require competition to complete transactions.
The new Azure product on Ethereum blockchain comes with various features for security and proper functioning. The features include Parity web-assembly support, identity leasing system, decentralized governance application and Azure Monitor.