Nasdaq to pilot blockchain for proxy voting in Estonia

Nasdaq to pilot blockchain for proxy voting in Estonia

Nasdaq is to use blockchain technology to streamline proxy voting on companies listed on the US Exchange-held Tallinn Stock Exchange.

Nasdaq is piggy-backing off Estonia's e-Residency platform - a digital authentication service used by both Estonian residents and those with business interests in the country to access government services - to identify shareholders and then record votes on its private blockchain.

The programme marks the second official distributed ledger project from Nasdaq, following the successful delivery late last year of private securities issuance between an investor and company via Nasdaq Linq, its blockchain-enabled platform.

Hans-Ole Jochumsen, president, Nasdaq, says that by making e-voting more efficient and secure, the blockchain-based system has the potential to empower shareholders and improve their engagement.

""Estonia's robust information society and forward thinking coupled with the agility its size affords, creates a unique opportunity to premiere the e-voting pilot in Estonia," he says. "We're excited to see the development of this project over the coming months, and look forward to working closely with the government of Estonia to set a transformative example of the future of governance."

The pilot is set to go live at an unspecified date later this year.

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