Life is full of surprises. Nasdaq, the proverbial arch enemy of all things blockchain is weirdly positive about crypto and the decentralized exchanges (DEX). At first glance, this goes against everything traditional financial markets stand for but of course, there is a good reason for this embrace.
NASDAQ EMBRACES DEX AND CRYPTO
Nasdaq CEO Adena Friedman is optimistic about blockchain. Actually, that’s an understatement. Freidman truly believes that the technology backing cryptocurrency will play an extremely important role in the economy. As a result, she is helping Nasdaq broaden its horizons past that of the traditional stock exchange. Friedman is not exactly doing this for charity though. As with anything in today’s economy, there is a profitable reason behind the embrace of DEX and crypto.
NASDAQ WANTS TO BECOME IT’S OWN DEX AND CRYPTO
Nasdaq is not going to sit idly by and watch crypto dismantle the traditional financial institution. If the traditional financial institutions will collapse because of crypto, you can bet Nasdaq will have a hand in it. Hence, the company is taking inspiration from decentralized exchanges like Kelvin and possibly creating their own exchange someday. Friedman states that the company would “certainly consider becoming crypto exchange over time.” While this is great news for the blockchain community, don’t start celebrating just yet.
NASDAQ SAYS CRYPTO AND DEX STILL HAVE A LONG WAY TO GO
Just because Nasdaq is optimistic about crypto’s future, that doesn’t mean they will drop everything right now. There are still some problems. For one, Friedman states that ICO’s need to be regulated as soon as possible. Once that happens, then the rest of the world can start moving forward with creating a fair, legitimate and innovate ecosystem. This sort of thing is expected with new technology. For those worried that more rules will destroy the underlying philosophy behind crypto, then you are wrong. Regulation is a good thing as it paves the way for honest and intelligent innovators to really shine.