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Cryptocurrencies

Nasdaq partners with NYIAX to build a blockchain market for ad contracts

Wednesday 15 March 2017 | 10:30 AM CET

Nasdaq, an exchange operator, has teamed up with the New York Interactive Advertising Exchange, or NYIAX, to launch a new blockchain-based market for advertising contracts.

NYIAX has positioned the forthcoming exchange release as a transparent means for buyers and sellers to trade digital media, the company said in an announcement. Nasdaq is providing the technology that will power the exchange.

The technology used will be deployed in the cloud, using blockchain as the “core ledger” for transactions in the market. In addition, while no full launch date has been revealed, NYIAX said that it aims to complete a pilot program by late 2017 to streamline the USD 32bn market for media advertising by securitizing advertising contracts.

The launch comes months after Nasdaq began offering blockchain-based services to its exchange clients. Furthermore, the exchange operator is also one of a number of companies worldwide that seek patents related to blockchain.

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