KDPW creates an electronic voting system on a blockchain platform

On October 24, 2017 the IBM company announced the project of development of the distributed register for security markets by request of Central Securities Depository of Poland (KDPW) and with its participation.

Project Progress

The solution is created on the Hyperledger Fabric platform. The prototype of eVoting is focused on increase in level of the involvement of the investor into vote according to the decisions made at shareholder meetings. The register is a tool for an absentee voting using digital means of communication. It is expected that the platform will help to improve preparation for shareholder meetings, management of vote, will increase the level of transparency of all process.

The law regulating the stock market in Poland allowed market participants to use modern technologies and an absentee voting for the solutions included in the agenda of shareholder meeting. This option can be implemented in practice by means of IBM Blockchain Platform on the basis of Hyperledger Fabric framework from Linux Foundation.

The technology will allow to digitize completely preparation and carrying out shareholder meetings, to fulfill regulatory requirements on identification of the participant and safety of electronic communications. The public companies and investors will receive cheaper, easy and reliable way of use of the rights for acceptance of corporate solutions.

The central depository offers a broad set of services for issuers, including support of general shareholder meetings. The eVoting system will allow KDPW and other participants, including the public companies, banks and brokerage firms, to obtain information almost in real time on a voting right and access to reliable results of an absentee voting. Using blockchain technology it is necessary to create the general protected register fixing results of shareholder meeting, the list of solutions for vote and the voting rights reserved for investors and individuals.

Development of technology at a stage of creation of a prototype and, as expected, will become available to testing at the end of 2017.