Exchange operator Nasdaq is trying to make investments in blockchain startups as a part of a brand new enterprise initiative.
Nasdaq Ventures, introduced at this time, has set its sight on investing in firms that work with blockchain, in addition to corporations centered on synthetic intelligence, next-generation knowledge evaluation and machine studying. The agency will make investments as a lot as $10m in related startups, specializing in each seed-stage and late-stage placements.
The effort is probably a pure extension of the change operator’s work in the blockchain area. In mid-2015, Nasdaq partnered with blockchain startup Chain in an effort that noticed the 2 jointly develop a distributed ledger market centered on pre-IPO choices.
Adena Friedman, president and CEO of Nasdaq, stated in a press release:
“With the launch of our new venture investment program, we are reinforcing our focus on driving growth and innovation by evaluating, distributing, licensing and integrating disruptive technologies for the long-term benefit of our global clients.”
The operator has been testing blockchain elsewhere as properly.
In February 2016, Nasdaq revealed it was testing a blockchain e-voting prototype with Estonia’s sole securities change. Further, in January, Nasdaq released a report outlining that, in its view, the trial “successfully demonstrated” why it believes blockchain use instances will lengthen past transaction settlement.
Image Credit:Â Sean Pavone / Shutterstock.com
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