``"It brings a level of auditing that's based on mathematics and not based on trusting a third party," said David Johnson, chairman of Factom Foundation, a start-up trying to expand the use of the blockchain beyond bitcoin.

Hmm, wonder if they will have to code in exceptions to allow naked shorting... Anyways, here's a better article:

Instead of using bitcoin, NASDAQ will apply this technology to securities bought and sold on a market for private companies. Shares in these companies are often bought and sold using a slow, informal system in which lawyers must manually verify transactions, according to the Wall Street Journal. The blockchain could significantly increase the pace at which trades can be executed.

Thank god; eliminating more brainless-yet-highly-paid financial lawyer positions is good for us all...

Comments: Be the first to add a comment

add a comment | go to forum thread