As it became known on May 17, one of the largest European banks, Santander is the first financial institution that used Blockchain during the voting of investors.
Previously, the bank used technology during the annual investor vote, which took place in March. Then, Santander entered into an agreement with Broadridge Financial Solutions, which was supposed to optimize the voting process on March 23rd.
In addition to Blockchain Lab, the process was joined by JPMorgan and Northern Trust, which acted as custodian banks. Such a statement was published in an official press release, which also reports that:
“The blockchain technology has enhanced efficiency and transparency upon the reception and vote tabulation process, which will result in bridging the gap between all in the process.”
It is worth noting that the experience of Santander indicates that the technology Blockchain can be effectively used in elections. State bodies, in turn, are slow to integrate technology into the voting process.
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