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Abu Dhabi Securities Exchange chief talks up blockchain

10 April 2017  |  6628 views  |  0 Source: Abu Dhabi Securities Exchange

Abu Dhabi Securities Exchange (ADX) Chief Executive, Rashed Al Blooshi, said that deploying the ‘Blockchain’ technology is part of the innovation culture adopted by ADX on a regional scale, in compliance with Abu Dhabi Economic Vision 2030.

“Blockchain is the most innovative technology in digital transactions. It represents the second generation of the internet and has enabled ADX to join the elites of top 10% of institutions globally who have already taken steps in adopting this technology.” said Al Blooshi.

Blockchain enables financial transactions between two participants in a safe, trusted and irreversible way, without relying on a third party, which in turn entails cost reduction and an increment in the transparency and efficiency of those transactions. Blockchain is considered one of the most innovative technologies since the inception of the internet, providing high levels of safety and transparency.

ADX launched Blockchain for e-Voting during GITEX 2016 as part of its innovative technologies. ADX Blockchain e-Voting service will allow the concerned parties to directly connect and monitor voting in any Annual General Meeting (AGM). This digital service saves time, cost, and effort. It also adds to the vitality of the AGMs through high attendance and interaction with the decisions. It is considered an effective way to interrelate via safe internet connections from anywhere in the world.

Blockchain eVoting service will also enable a company’s shareholder to access reports and statements relevant to the AGM, whether for candidates for the Board or quorum for voting - among other decisions and other information by means of their smart devices.

“Abu Dhabi Plan is what inspires us to accomplish our strategic goals. ADX is committed to creating a business environment that is both competitive and flexible. Accordingly, adopting Blockchain technology in our projects comes in alignment with the digital transformation of Abu Dhabi’s government services as we constantly strive to introduce new ways that ease the process of doing business in the Emirate.” reiterated Chief Executive of ADX. 

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