Cryptocurrency startups are getting attention from multiple countries, including Malta and Gibraltar, amongst others. However, there are more than Cryptocurrency startups that are being given attention; for example, things are heating up with the NASDAQ right now as well. Recent reports out of the United States are sending out not-so-subtle hints that the NASDAQ is assembling research teams to investigate the feasibility of crypto exchanges being incorporated as a trading option on the NASDAG platform. Why would this be happening, well, the answer to that is multi-pronged, but one of the main purposes identified is that the NASDAQ is aiming to greatly reinforce the overall public perception of Cryptocurrencies worldwide.
The Big Meeting
Earlier this week on the 23rd, NASDAG hosted a meeting down in Chicago, where they brought together several well-known crypto exchanges, including one of the most profitable American companies, Gemini. After the event, it was leaked to the media that certain of the agenda items on the list for the summit included points such as the bringing of Cryptocurrency to the mainstream through partnering with legislation. In addition, the conference also discussed matters like the next hallmarks of Blockchain technology with regards to future innovations in the years to come.
The CEO’s Words
In order to drill down to the nitty gritty of the situation, the members of the summit sought to identify how blockchain would be used in the pursuit of not only securing Cryptocurrencies in the future but how it would be affected by government laws and oversight. Earlier this year, in May, the CEO Adena Friedman of NASDAQ, informed the media that she wholeheartedly believed that Cryptocurrencies would be the natural evolutionary step for the financial systems of the future. Friedman then went on to add, that Blockchain and ICO tokens are one of the many paths to achieving that goal. Finally, Friedman went further on to state that NASDAQ had made it one of their company’s main goals to be able to aid in the establishment of Cryptocurrencies within the modern financial system.
In more recent interviews, Friedman has shared that she has established research divisions to investigate the full viability of creating investment initiatives into crypto-futures but would want to know the pros and cons before diving in. Friedman is hoping to pioneer this as a successful prototype for the rest of the world, thus would like to make sure that this is not only legally sound but also will gain enough traction within the consumer market. Unfortunately, Friedman has not yet shared which exact crypto exchange, the NASDAQ will be partnering with or if it will be multiple exchanges.
A Keen Interest
Most interestingly, Friedman has given the suggestion that already established financial institutions look to adopt Blockchain methodologies in order to minimize running costs and improve everyday logistics. Friedman has pointed out that the integration with Blockchain will enable banks to minimize their percentage of requisite shareholder funds, thus making it less risky and altogether smoother business processes. Friedman has stated in the past that as soon as Cryptocurrencies and exchanges have more legislation applied to them, that they will be made readily available via the NASDAQ to the general public.