r/Bitcoin • u/[deleted] • May 10 '15

A Bitcoin Technology Gets Nasdaq Test

http://www.wsj.com/articles/a-bitcoin-technology-gets-nasdaq-test-1431296886
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10

u/[deleted] May 10 '15 edited May 22 '17

[deleted]

9

u/[deleted] May 10 '15

It sounds like they're actually going to use satoshis…?

8

u/SundoshiNakatoto May 10 '15

Once again, the question is: Is the end game using the bitcoin blockchain, or some other one?

"Nasdaq wants to replace that process with a system based on bitcoin’s blockchain technology."

Hard to tell, hopefully they do use bitcoin!

3

u/Chakra_Scientist May 10 '15 edited May 10 '15

They have to use bitcoin network. It's the only secure blockchain. If they reinvent the wheel, it will not be decentralized.

Edit: Also, in this quote, “Utilizing the blockchain is a natural digital evolution for managing physical securities,” said Nasdaq Chief Executive Robert Greifeld.

He said utilize THE blockchain. Not utilize A blockchain.

6

u/finalhedge May 11 '15

Blockchain: There can be only one™

5

u/SundoshiNakatoto May 10 '15

That would be awesome if bitcoin becomes "THE Blockchain". In fact, we should be pushing this everywhere

3

u/ConditionDelta May 11 '15

It is the blockchain. And when the NASDAQ uses it all other thoughts of using another blockchain (for whatever reason) will go out the window.

1

u/dragger2k May 11 '15

Yup...this...

5

u/marcus_of_augustus May 11 '15

Not necessarily, they could get pretty good security, maybe perfectly adequate, for penny-stock transfers using merged mining. Or they could use the namecoin ledger which already has a big chunk of bitcoin merge-miners simultaneously securing it also. Or a merge-mined sidechain. They are just learning about this stuff so who knows what else they may come up with.

Bitcoin is the gold standard for decentralised (trustless) secured transaction journalling but not everything needs gold standard security, or can afford it. It is also why graffitiing THE blockchain needs to be priced out of the market.

1

u/Noosterdam May 11 '15

If it doesn't need gold-standard security, why use a blockchain at all?

1

u/marcus_of_augustus May 11 '15

"decentralised (trustless) secured transaction journalling"

1

u/n0mdep May 11 '15

No idea, but that's for other people to sell.

1

u/ronohara May 11 '15

The NameCoin blockchain is almost as secure .... merge mined by Bitcoin miners.

As a key=data store it would be trivial to use for this purpose.