• A Singapore crypto association has executed a first on-premise blockchain voting

Blockchain-based voting is rapidly transcending the traditional voting system. As reported by Finews Asia, the Association of Cryptocurrency Enterprises and Start-ups, Singapore (ACCESS) became the first such association to successfully implement on-premise Ethereum-based blockchain voting in a live environment for the members.

ACCESS managed to get through the pilot phase to implement the solution driven to achieve immutability, transparency and anonymity in the voting system. The procedure involved the members to vote for agendas and future appointment holders safely, by offering a DLT-based solution to long-standing issues of voting.

Another aspect responsible for shaking the very fabric of the entire system is the lack of anonymity and manipulation of masses. ACCESS used the technology to disconnect the voters and the votes, thus avoiding traceability of the voters and maintaining anonymity. Per the report, the members are given randomly generated QR codes, which are hashed and stored in a Code Management Smart Contract. The voting status is managed through this smart contract which ensures there is no double voting. Candidate-related information is managed through the Voting Smart Contract.

Anson Zeall, Chairman of ACCESS stated:

“The blockchain voting process helps uphold the true values of democratic voting in ensuring authentic votes are being legitimately accounted for with a transparent audit trail. We are seeing the future of corporate governance through the implementation of blockchain technology starting with our most important corporate governance event, our AGM.”

 

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