Microsoft recently announced a high-level partnership with Nasdaq to create an interoperability matrix for distributed ledgers. The partnerships will see Nasdaq Financial Framework (NFF) adopting the Microsoft Azure blockchain that allows different technologies to work together via one central ecosystem.
NFF Partners with Microsoft Azure Blockchain
According to a press release published by Microsoft on Tuesday (October 30, 2018), the company announced its partnership with Nasdaq. Microsoft is bringing its Azure platform unto the NFF.
A portion of the press release reads:
To accelerate Nasdaq’s blockchain capabilities aligned with the industry’s rising demand, the company is integrating the Nasdaq Financial Framework with Microsoft Azure Blockchain to build a ledger agnostic blockchain capability that supports a multi-ledger strategy.
Nasdaq created the NFF in 2016 as an enterprise-wide portfolio of services and business platforms. NFF allows customers to seamlessly manage their technology stack without having to rely on individual platforms. The decision to adopt distributed technology seems like a logical step for NFF. Many experts say the emerging technology will disrupt the global business process.
Seamless Enterprise Blockchain Adoption
The planned integration will see Azure delivering seamless interoperability and communication among all participants on the NFF ecosystem. This includes the core infrastructure, customer technology applications, and diverse middleware platforms. The overall aim is to create easily executable contracts and transactions.
According to Bloomberg, NFF wants to offer its customers one common blockchain interface that they can use to control different blockchains. This plan is targeted at removing the constraint of adopting the emerging decentralized technology revolution in various business applications.
Commenting on the partnership, Nasdaq Senior Vice President of Enterprise Architecture, Tom Fay, said:
Our NFF integration with their [Microsoft Azure] blockchain services provides a layer of abstraction, making our offering ledger-agnostic, secure, highly scalable, and ultimately helps us continue to explore a much broader range of customer use cases for blockchain.
Fay also went to say that Microsoft will handle the matters relating to security and ledger communication, freeing up NFF to work on protocols that focus on scalability and other challenges faced by its customers.
This latest partnership is yet another foray by Nasdaq into the world of cryptocurrency and blockchain technology. Earlier in the month, the U.S. stock exchange giant announced plans to look into the creation of a platform for security tokens.
Do you think Nasdaq’s partnership with Microsoft Azure Blockchain will create more robust blockchain-based financial applications? Let us know your thoughts in the comment section below.
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