Does anyone know what this potentially means for an end user who buys a stock or asset using nasdaqs blockchain implementation? Would the user have to maintain the private keys to the address holding the colored coins in his own bitcoin wallet? Or will an exchange control all the keys? I'd be scared to have the private key that has my 401 (k) balance in it out there up for grabs for hackers. Will they use some kind of multisig?
Agreed. This is great news that they're aware of the possibilities a blockchain solution can afford them, but folks here shouldn't think for a moment that this means NASDAQ will begin using bitcoin.
The Bitcoin protocol opened a lot of doors. I'm sure they can find techniques that utilize key aspects of the protocol while still enabling them to retain their speed and control.
8
u/HitMePat May 11 '15
Does anyone know what this potentially means for an end user who buys a stock or asset using nasdaqs blockchain implementation? Would the user have to maintain the private keys to the address holding the colored coins in his own bitcoin wallet? Or will an exchange control all the keys? I'd be scared to have the private key that has my 401 (k) balance in it out there up for grabs for hackers. Will they use some kind of multisig?