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Abu Dhabi Securities Exchange uses blockchain tech for e-voting service

17 October 2016  |  6102 views  |  0 Group of arrows with one odd pointing other direction

Abu Dhabi Securities Exchange (ADX) is using blockchain technology for a new e-voting system for shareholders accessing and participating in company annual general meetings (AGMs).

In what it claims is a regional first, ADX says the blockchain voting service will let firms' stakeholders directly connect and monitor voting in any AGM from anywhere in the world.

Shareholders will be able to access reports and statements relevant to the AGM, whether for candidates for the board or quorum for voting - among other decisions - via their phones.

The exchange says that the service will save time, cost, and effort, while also adding to the "vitality" of the AGMs through high attendance and interaction with the decisions.

Rashed Al Blooshi, chief executive, ADX, says: "This step comes as we aspire towards becoming a fully digital Exchange, with our strategic objectives aligned with Abu Dhabi’s vision for building a knowledge-based sustainable economy that constantly evolves."

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