Exchange operator Nasdaq has released its conclusions about a blockchain e-voting trial it conducted in Estonia last year.
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:
Feedback from the test was positive overall, the firm said. At the same time, participants highlighted the need for more mobile support, specifically a dedicated app through which votes could be cast.
"We will explore how this successful [proof-of-concept] can potentially be applied to other Nasdaq internal and client-facing solutions," the company said.
Disclosure: CoinDesk is a subsidiary of Digital Currency Group, which has an ownership stake in Chain.
Voting image via Shutterstock
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