Blockchain Voting Prototype Deployed

Toronto Stock Exchange operator TMX Group has unveiled a new blockchain-based prototype to support an electronic shareholder voting system.

The E-Proxy voting system prototype, which was developed in consultation with Accenture Plc, aims to significantly improve the efficiency and accuracy of the voting process during annual shareholder meetings. It also will enhance security through advancements in cryptography, the company claimed.

“TMX is proud of the work we have done with our innovative partners at Accenture to develop this blockchain prototype,” said John Lee, the Vice President of Innovation and Enterprise Delivery at TMX Group. “We continue to explore ways TMX can leverage these new technologies in pursuit of tangible, transformative business solutions for our clients.”

The introduction of a blockchain-based system will also help increase engagement in corporate governance actions by removing the need for shareholders to be physically present during the voting process,” the company claimed. Accenture was engaged by TSX to provide design and development consulting services to create the prototype.

“Leading-edge exchanges around the world are embracing the potential for blockchain technology to reinvent client services,” said David Treat, managing director of Accenture’s financial services industry blockchain practice. “TMX’s approach aligns with our vision and commitment to making blockchain technology a paradigm-shifting reality within the capital markets sector.”