[2016-10-07] Nasdaq Wants to Patent Blockchain Backups for Exchanges

[Creol]

Nasdaq is looking to patent a way in which a blockchain can be used to record exchange transaction records.

On 6th October, the US Patent and Trademark Office (USTPO) released an application for “systems and methods of blockchain transaction recordation”, originally submitted by Nasdaq on 31st March. It is attributed to Tom Fay, Nasdaq’s senior vice president of enterprise architecture, and Dominick Paniscotti, associate vice president for enterprise architecture.

Essentially, the application details an exchange system comprising digital wallets, an order book and matching engine, with a "closed blockchain" utilized as a record of transactions that is updated in real-time as participants act.

http://www.coindesk.com/nasdaq-patent-application-blockchain-backup/

[drnash85]

Nasdaq will never get their dirty hands on this technology.

[Dassi]

That's good to know.
Soon enough, Nasdaq might just develop a new coin where by stocks would be traded as coins and transactions recorded on the Nasdaq blockchain.

[btcjoin14]

Not surprised, the huge corporations are the usual suspects when it comes to money. Of course the NASDAQ wants to patent Bitcoin because they want to claim it as their own. Now if the NASDAQ actually makes a useful blockchain-style live transaction receipt then they would have a right to patent that.

They was discussing about making that type of thing a few months ago, ever heard of LINQ? I could see that article in the original post explaining it a little bit but not in detail.

View the PDF on the NASDAQ website: http://business.nasdaq.com/Docs/Blockchain%20Report%20March%202016_tcm5044-26461.pdf


As for patenting the blockchain as a whole, they shouldn't be able to even patent open source software if they have no proof that they own it. If they do patent it then they should have proof that they made the very first blockchain.