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The Nasdaq, the world's second largest stock exchange by market capitalization, has revealed a new patent based on blockchain, which focuses on the release of information for the media industry.
The patent application, initially filed in January, refers to "a computer system [...] provided to securely release sensitive information to recipients via a blockchain".
The problem at stake, Nasdaq says, is the often twisted process of disclosing information to the media and securing it from a legal point of view.
Blockchain technology, or more specifically smart contracts, could be used to automate and secure the information release process.
"A sender sends a document to the system and a transaction is generated and sent to the blockchain based on the document [...] An editor can modify the document and an approver can approve its release to the recipients".
"Each change and/or approval of the document is recorded as a separate transaction on the blockchain, in which each of the senders, editors, approvers and recipients interact with it using unique digital identifiers, such as private keys.
The patent is not Nasdaq's first step in the blockchain and crypto industry. In June, the platform tested a blockchain proof of concept system for collateral, and also filed other technology related patents.
Meanwhile, last month, Nasdaq executives said they are looking for crypto currency data to add to their market analysis tool, in response to the "abundant" interest of customers.