Nasdaq develop blockchain voting system

Nasdaq and Strate had agreement about deliver a new blockchain solution for South Africa
23 November 2017   453

This solution would bring electronic voting to the capital markets in South Africa. It is based on the tested concept that was developed for Nasdaq’s Estonia market and it will allow with key stakeholders in the market, give shareholders an easy, usability and secure tool for voting remotely and  to provide general meeting services.

This solution is very useful for the South African financial markets because they have many inefficiencies and risks.The solution intended to service clients’ needs across the market from  custodians, transfer secretaries to issuers, asset managers and those holding shares in listed companies.

A major indicator of progress in the capital markets is when technology not only bolsters performance, but also improves efficiency and transparency. By leveraging blockchain, we are able to reduce friction in the voting and proxy assignment process and also ensure that all information is transparent to stakeholders when required and with the proper security, governance and risk procedures in place.

 

Lars Ottersgård

Executive Vice President and Head of Market Technology, Nasdaq

It has some benefits, for example:  information about meetings, agenda items and management proposals is easily reachable, secure (multifactor) identification of shareholders and their representatives, remote participation and proxy assignment, submitting votes before and/or voting during the general meeting, full track record of assigned proxies and casted votes, online/ real-time access to voting results, transparency and auditability of voting results for listed companies and others.

Brazilian Central Bank to Issue Stablecoin

According to participants of the project, the issue of the BNDES coin will help restore public confidence in Brazilian state banks
17 December 2018   68

The state-owned Brazilian National Social Development Bank intends to issue a cryptocurrency token tied to the Brazilian real. It is reported by CoinDesk.

The pilot project for the production of a token BNDES based on Ethereum will start in January next year. At first, the coin will be used to finance cultural institutions. In particular, the bank will allocate a certain number of new tokens to the local cinema agency.

As the newspaper notes, the bank conducted experiments with steyblecoin throughout 2018. The consultant of the project for the release of a new “stable coin” will be the well-known Ethereum start-up ConsenSys.

According to representatives of the bank, the issue of the BNDES coin will help restore public confidence in Brazilian state banks, which are often criticized due to corruption scandals.

Also, the bank is confident that in the future, stablecoin can be used to finance organizations and projects from various fields.

Note that recently in Brazil there has been a trend towards liberalization of the regulation of cryptoindustry. For example, in October, the Brazilian Securities Commission allowed local investment companies to invest in a cryptocurrency ecosystem through the acquisition of derivatives and shares in foreign funds. It is noteworthy that at the beginning of the year the same financial regulator announced the prohibition of both direct investment in cryptocurrency and indirect investment through intermediaries in the person of foreign companies.