Exchange operator Nasdaq has released its conclusions about a blockchain e-voting trial it conducted in Estonia last year.
A new Nasdaq report, published today, details the project, which it unveiled in February 2016. At the time, the company's officials said they hoped to reduce both the complexity and cost of organizing shareholder votes as part of a bid to boost overall participation.
Overall, it concluded: "This model successfully demonstrated how a blockchain could be used for something other than transaction settlement."
Nasdaq leveraged information from Estonia’s e-Residency platform as a basis for creating voting accounts.
Working with blockchain startup Chain, Nasdaq developed a system in which digital assets signifying voting rights – and tokens to be used to actually cast votes – were distributed to shareholders. Nasdaq first announced its partnership with the startup in mid-2015.
Here’s how Nasdaq describes the system as it functions:
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