New Blockchain Voting Technology Released in Russia
Today it was announced that Russia has become one of the first countries to develop an online voting system based on Blockchain Technology. DataArt and The National Settlement Depository designed the system. This technology will allow shareholders of publicly traded companies vote on corporate matters while still preserving the shareholders' anonymity.
The system has been in testing for some time, with a successful test being completed in Russia by NSD last year. The voting system has three principles:
Every participant should know their vote is accounted for
No participants should know the decisions of the others.
All data should be immutably stored.
Although the project was succesful at testing last year, there was more work needed to fully complete the project. The company is still also facing the legal issues that come with introduction of this technology to the public. Blockchain in Russia has been a hot topic over the past year, and it is still undecided how DataArt and NSD will proceed.
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