If you are running a new blockchain startup or are in the beginning steps of creating a company then this article is worth reading. As currency evolves technologically, banks and exchanges will have more ties to the blockchain industry. Nasdaq has announced they want to become more involved in blockchain technologies by investing in those types of companies. Read more about this in the article from CoinDesk below.
Nasdaq Wants to Invest in More Blockchain Startups
Exchange operator Nasdaq is looking to invest in blockchain startups as part of a new venture initiative.
Nasdaq Ventures, announced today, has set its sight on investing in companies that work with blockchain, as well as firms focused on artificial intelligence, next-generation data analysis and machine learning. The firm will invest as much as $10m in relevant startups, focusing on both seed-stage and late-stage placements.
The effort is perhaps a natural extension of the exchange operator’s work in the blockchain space. In mid-2015, Nasdaq partnered with blockchain startup Chain in an effort that saw the two jointly develop a distributed ledger market focused on pre-IPO offerings.
Adena Friedman, president and CEO of Nasdaq, said in a statement:
“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 well.
In February 2016, Nasdaq revealed it was testing a blockchain e-voting prototype with Estonia’s sole securities exchange. Further, in January, Nasdaq released a report outlining that, in its view, the trial “successfully demonstrated” why it believes blockchain use cases will extend beyond transaction settlement.