Informed: The blockchain project between Nasdaq and Citigroup has been shelved

According to Reuters, two years ago, Nasdaq Inc. and Citigroup announced a new blockchain system and said the system would increase the efficiency of private equity transactions. Nasdaq CEO Adena Friedman called it "a milestone in the global financial industry." According to a person familiar with the matter, the two companies did not advance the project because, although it played a role in the test, the cost of fully adopting the system outweighed the benefits.