The Nasdaq stock exchange received patent for the use of the Blockchain for news agencies.
The patent was filed by the U.S. Patent and Trademark Office. The documents explain how the Blockchain can be used to safely and quickly distribute information.
“Each modification and/or approval of the document is recorded as a separate transaction on the blockchain where each of the submitter, editor, approver, and recipients interact with the blockchain with corresponding unique digital identifiers — such as private keys.”
At the moment, news agencies and channels give out information in specific terms to specific editions manually, which is why confidentiality of information remains a big question. This led to the creation of a new system based on the Blockchain.
To create the Nasdaq system, smart contracts were used, thanks to which the transparency of the entire system was enhanced. The system allows sending specific information to specific recipients at a specified time automatically.
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