Broadridge Completes Blockchain Proxy Voting Trial

Investor services firm Broadridge piloted what it called its "first application of blockchain technology" in a high-profile test this week.

AccessTimeIconApr 13, 2017 at 9:00 a.m. UTC
Updated Sep 11, 2021 at 1:14 p.m. UTC
10 Years of Decentralizing the Future
May 29-31, 2024 - Austin, TexasThe biggest and most established global event for everything crypto, blockchain and Web3.Register Now

Investor services firm Broadridge successfully executed a blockchain pilot focused on proxy voting this week, in partnership with JP Morgan, Northern Trust and Banco Santander.

In a statement, Broadridge revealed that a private ethereum blockchain was used as a backup system to more traditional voting software, and that the test was conducted at an annual meeting at Santander Investments.

A fruition of past statements about Broadridge's impending work, the test sought to showcase how blockchain could improve the transparency of proxy voting, the process by which shareholders cast votes at annual meetings.

The solution seeks to provide an example for how a client could use a distributed ledger to gain daily insight into vote progress. Broadridge touted the solution as being able to give data access to a limited number of people, while using smart contracts to ensure transparency.

In statements, Banco Santander lauded the test as a validation that blockchains could provide benefits for the voting use case. Likewise, Broadridge said it would increase the quality and efficiency of the proxy voting process.

Patricia Rosch, senior executive managing Broadridge's international proxy business, said in the statement:

"The success of this pilot program reflects Broadridge's unique ability to leverage our domain expertise and deliver blockchain innovation to all industry participants."

Notably, this is not the first time blockchain technology has been used to conduct proxy voting. Earlier this year, Nasdaq announced a project with Estonia's e-Residency platform using blockchains for proxy voting. The project was initiated in 2015 with the blockchain startup Chain.

Voting booth image via Shutterstock


Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.

Learn more about Consensus 2024, CoinDesk's longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to to register and buy your pass now.