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A Proof-of-Concept(PoC) for corporate shareholder e-voting using Distributed Ledger Technology (DLT) will be trialled in Singapore by SWIFT, a global messaging service provider for financial institutions, in collaboration with the Singapore Exchange (SGX), SLIB, a securities software provider, and 4 banks. This was announced by SWIFT in a press release on March 6.
The 4 banks are Deutsche Bank, DBS, HSBC and Standard Chartered. The PoC will be trialled in the Asia-Pacific region.
As per the press release, the goal of the PoC is to “explore whether DLT can help simplify the current inefficient management of shareholder meetings and the associated voting processes that are often time-consuming and resource-intensive”. Most common shareholders opt to vote by proxy which is often mired by non-transparent and needless complexity.
SWIFT will conduct the PoC in its DLT sandbox testing environment. Deutsche Bank, HSBC and Standard Chartered will act as participants while DBS and SG...
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