DecentraVote: First of its kind blockchain-based e-voting solution for general meetings successfully launched
Munich/Vienna, 16 September 2020 – DecentraVote, a privacy-preserving e-voting solution developed by the Blockchain Lab of the German IT company iteratec GmbH, has been used for anonymous votes in a legally binding virtual general meeting. This marks an important milestone in the adoption of decentralized e-voting systems for governance on corporate level.
DecentraVote is a tamper-proof e-voting protocol, that can be deployed on any Ethereum-based blockchain network. Members of governing bodies can participate in votes from anywhere using their own device and a browser-based user interface, which interacts with smart contracts on the blockchain. DecentraVote is the first decentralized e-voting solution, which implements zk-SNARKs, a zero-knowledge proof construction known from privacy coins such as Zcash and generates proofs in the members’ browser. DecentraVote is truly decentralized: instead of a backend server the members need to trust, it uses a peer-to-peer network to store frontend files and textual content secured by hashes on-chain.
DecentraVote was used for the first time to ensure legally binding decisions in the virtual general meeting of a Munich-based cooperative with more than 200 members. The members entitled to vote could either register for the event or authorize a representative, who could vote in their stead. Smart contracts deployed on bloxberg, a public blockchain infrastructure for scientific research, ensured that only eligible voters could participate and prevented them from casting more votes than allowed.
With the continued demand for virtual general meetings and online voting caused by the COVID-19 pandemic, further deployments of DecentraVote with improved performance and usability are in preparation.
For further information please visit https://decentra.vote/.
We are a technology company and support our customers with tailor-made solutions for complex problems – from creative brainwaves to the digital product. We are passionate technologists and it is our goal to create added value for people with our high-quality software. We develop individual software systems, design large system landscapes and are leaders in technology. Trend-setting companies have been entrusting us with their challenging agile projects for more than 20 years.Quotes:
Previous Press Releases:
- Varcode Appoints Leading Food Safety Specialists to New Advisory Board
- SGX, in collaboration with HSBC and Temasek, completes pilot digital bond for Olam International
- Council of Economic Advisors to Ring in Marshall Islands’ Final Phase to Launch First Auction of Sovereign Subscription Rights (SSRs) to its National Digital Currency
Next Press Releases: