Singapore to Test ETH Based DLT Voting System

Creators believe the main issues of traditional voting systems is the lack of anonymity and the possibility of manipulating public opinion
14 January 2020   220

The Association of Cryptocurrency Enterprises and Startups in Singapore (ACCESS) has tested the voting system based on the Ethereum blockchain.

According to the developers of the system the main problems of traditional voting systems is the lack of anonymity and the possibility of manipulating public opinion. With the help of the blockchain, ACCESS ensured the lack of communication between the voters and the votes, which means it ensured anonymity.

The blockchain voting process helps uphold the true values of democratic voting in ensuring authentic votes are being legitimately accounted for with a transparent audit trail. We are seeing the future of corporate governance through the implementation of blockchain technology starting with our most important corporate governance event, our AGM.

 

Anson Zeal

The ACCESS chairperson

For voting, ACCESS participants used the generated QR codes stored in a special smart contract. Voting status was also controlled through this smart contract, which eliminated the re-cast of votes.

OKEx Ex-CEO to Intend to Raise $40M

Funds are needed for the new exchange called ACDX, which will offer  futures, options, revocable bear/bullish contracts and more
06 February 2020   641

Andy Cheung, who until recently was the operating director of the OKEx cryptocurrency exchange, will open a new derivative trading platform ACDX by the end of the first quarter, CoinDesk reports. The exchange will offer its clients futures, options, revocable bear / bullish contracts, debt contracts and fixed coupon notes.

One of our main goals for the exchange is to provide retail investors with ... structured products that are more commonly used by accredited crypto investors and wealth managers.

 

Andy Cheung

Former chief operating officer at OKEx

In the future, ACDX plans to reach a global level, but first of all it will gather a client base in Asia, using the connections of Cheung and partners in Hong Kong and China. In preparation for the launch, she intends to raise $ 40 million through the sale of tokens and shares in her business to crypto funds, private investment firms and family capital management companies in Europe and Asia. 

We have over $4 million so far and most of the money comes from our own funds. We are in talks with potential investors and likely to announce new investments in the next two months.

 

Andy Cheung

Former chief operating officer at OKEx

To date, ACDX has hired more than 25 employees, including eight developers who are preparing the trading platform for launch.