Nasdaq has received a patent outlining how blockchain may very well be used to launch info as a part of a wire service.
The patent, launched Tuesday by the U.S. Patent and Trademark Office, particularly explains how a blockchain may very well be used to securely launch time-sensitive info when mandatory. As the doc explains, wire, newswire, information launch or different digital distribution providers at present share info at pre-set embargo instances to the supposed shops.
While current platforms can already distribute info at particular instances and to solely the suitable recipients, the patent notes that these techniques could go away audit path gaps – and a few platforms is probably not audit-friendly in any respect.
As such, “new and improved techniques and systems for delivering and securing such time-sensitive information are continually sought after,” the doc explains.
To clear up this, Nasdaq’s patent describes a blockchain platform that may make the most of sensible contracts to each incorporate a variety of encryption and workflow options, whereas sustaining a log that turns into harder to vary over time.
It explains that the pc system and blockchain are programmed to permit sharing of data instantly to chose recipients at a pre-set time through the use of sensible contracts which were added to the blockchain.
“Access to the sensitive information that is stored on the blockchain may include a multi-signature requirement that is part of the embedded scripts that make up a given blockchain transaction,” the patent provides.
“The intended recipients of the information may then directly interface with the blockchain at the scheduled time … to access information that has been securely stored,” it continues.
Nasdaq picture through Goran Vrhovac/Shutterstock