Nasdaq will be using blockchain technology to improve e-voting on the Estonain e-Residency platform.
The e-Residency platform is an electronic identity system used by Estonia residents and those with business interests in Estonia. The blockchain technology is intended to allow shareholders of companies listed on the Nasdaq Tallinn Stock Exchange to more easily vote in shareholder meetings.
Shareholders based in Estonia, or who are Estonian e-residents, will have a more convenient and more secure way of participating in corporate governance, and shareholder authentication will be improved.
Blockchain technology will allow votes to be recorded quickly and securely, improving the proxy voting process, which was previously fragmented and labour intensive, according to Nasdaq.
The pilot programme is scheduled to be launched at some point in 2016, and intends to empower shareholders and to improve engagement.
Kaspar Korjus, programme director of the e-Residency platform, said: "When we started the e-Residency project a year ago we knew we would change the way people think about nations and citizenship. Now, via our e-voting collaboration with Nasdaq, we will be revolutionising corporate governance."
President of Nasdaq Hans-Ole Jochumsen, said: "Estonia's robust information society and forward thinking coupled with the agility its size affords, creates a unique opportunity to premiere the e-voting pilot in Estonia. We're excited to see the development of this project over the coming months, and look forward to working closely with the government of Estonia to set a transformative example of the future of governance."
The programme is Nasdaq’s second official foray in to blockchain. It also created the blockchain-enabled platform Nasdaq Linq, which has now successfully completed a private issuance between a company and investor.
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