NASDAQ top manager: no need for the blockchain rush

This might seem surprising for some blockchain fans at first, but NASDAQ, previously seen patenting promising blockchain technologies, has recently told that blockchain must not be implemented too fast. The primary reason for this is that companies that try to be ahead of everyone else on the market risk implementing a raw technology that will make more harm than actually improve anything, tells Gustaf von Boisman, who was recently appointed as a head of product development in Nasdaq Clearing.

Speaking at the summit dedicated to blockchain solutions in London, he even provided the audience with examples he knows: the Moscow Stock Exchange and the Saudi Arabia Stock Exchange. T+0 settlement time was implemented not without blockchain, it seems, but the system requirements were too high and this apparently made both exchanges to move back to slower speeds. Such things happen when the technology and its implementation lack harmonization, von Boisman believes, thus concluding that there is no need for rush in implementing such important structural upgrade, even if your company wants to outrun the rivals.

Interestingly enough, no mention of this Moscow Stock Exchange upgrade failure has been detected in the Russian business media.