Russian developers make Blockchain E-voting solution for corporate shareholders. According to local sources, Russia has become one of the first countries to develop an online system for corporate E-voting based on Distributed Ledger (Blockchain) Technology.

The system is designed by DataArt and The National Settlement Depository (NSD), a member of the Moscow Exchange Group. The technology will allow shareholders of publicly traded companies to vote on corporate matters entirely transparently while preserving shareholders’ anonymity.

Last year the E-proxy voting system was successfully tested in Russia by the NSD. The voting system was built on three conditions: every participant should know that their vote is accounted for; no participants should know the decisions of the others; all data should be immutably stored.

The NSD announced back then that their tests were successful, but that in order for the project to be fully realized more time and legislation changes were necessary. There were also technical concerns about how to keep some information hidden from participants, such as transaction value or provisional results of voting.

The NSD and DataArt developers have solved these problems by integrating zero-knowledge proof technology into Hyperledger Fabric platform. This integration will allow keeping shareholders’ privacy and at the same time will help to avoid voter fraud. Read more from…

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