Blockchain could replace the old ticker tape. Nasdaq has applied for a patent to use blockchain technology for releasing timed information more securely as an alternative to a wire service.

The patent explains how a company’s computer system and blockchain would be programmed to allow sharing of information directly to selected recipients at a preset time by using smart contracts that have been added to the blockchain.

Access to the sensitive information that is stored on the blockchain may include a multisignature requirement that is part of the embedded scripts that make up a given blockchain transaction, Nasdaq said on the application.

“The intended recipients of the information may then directly interface with the blockchain at the scheduled time (e.g., that is controlled by the embedded script that is part of a transaction) to access information that has been securely stored thereon.”

ThirtyK Staff
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