Microsoft Collaborates With Nasdaq To Integrate Blockchain Technology.

According to their press release on 30th October, Microsoft, the American software giant, is all set to integrate it’s Azure Blockchain technology, into Nasdaq, world’s second largest American stock exchange’s Financial Framework, a technology that gives software for trading base and operations outsourcing and will be able to satisfy Nasdaq’s risk and surveillance technology offering.

As a part of this partnership, both the parties will collaborate to build a “ledger agnostic blockchain capability” that facilitates operations across multiple ledgers. This product will ease the process of matching of buyers and sellers, management of delivery, payment and the settlement if transactions.

The integration of Azure and NFF will always enable customers to deploy various blockchains through one common interface all the while promoting the development of blockchain.

Senior Vice President of Enterprise Architecture at Nasdaq, Tom Fay, expressed that the collaboration with Microsoft will atleast to some extent remove the complicated question of integrating blockchain technologies into frameworks that already exist. He added:

“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.”

A proof-of-authority (PoA) algorithm, which is primarily based on the concept of approved identities, or validators on a blockchain, was released by Azure, on its Ethereum blockchain product. This new product includes a number of features to ascertain proper functioning and security, like an identity leasing system, Parity’s web-assembly support, Azure Monitor, and a Governance Decentralized Application.

Nasdaq Financial Framework plans to enable customers to use different blockchains through one common interface, which the company hopes will ease and accelerate blockchain use and let customers choose which option is best for different situations.

Rishma Banerjee

Rishma is currently pursuing a bachelor’s degree in International Relations and has a special place in her life for sifting through all sorts of random trivia, thank you very much.