Nasdaq provides blockchain tech to new advertising exchange

Progressive exchange: Nasdaq currently uses blockchain to power its US market for shares of private companies.

NEW YORK: Nasdaq Inc has provided blockchain technology to run a new exchange to trade guaranteed advertising contracts as more mainstream finance projects using the record keeping software move into the real world.

The New York Interactive Advertising Exchange (NYIAX), which is set to launch in the fourth quarter of 2016, will provide an electronic marketplace for publishers, advertisers and media buyers to buy and sell future advertising inventory, global exchange operator Nasdaq and NIYAX said.