Proxy voting for corporate decision making has long been a costly and time-consuming process. Objecting beneficial owners (OBOs), whose defining characteristic is an unwillingness to giving up their voting anonymity, are a particularly problematic set of proxy voters. Nuarca teamed with IBM to implement a blockchain voting network solution based on the IBM Blockchain Platform that allows objecting beneficial owners and their votes to be immediately represented within the proxy voting cycle. This allows proposal supporters to make optimal decisions around whether to spend more and where to spend it to achieve their desired outcome. The blockchain solution preserves OBOs anonymity while ensuring the transparency and auditability of the voting process.
“No one denies that the … blockchain use case for proxy voting is very strong, but no one’s been able to put it together before,” explains Todd Cooper Chief Executive Officer and Co-Founder, NuArca
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•IBM Client References: http://bit.ly/1hzYvlB