BitFlyer Holdings have now held a general shareholders meeting using the blockchain voting app that went without any hiccups. The firm runs one of the biggest crypto exchanges in Japan. It held its general shareholders’ meeting on June 26 and for the first time, it used a blockchain voting app.
In the ‘new normal’ where there is a need for social distancing, blockchain technology has now found another use case. The voting app that was used in this process is known as bVote and it was created by BitFlyer’s subsidiary BitFlyer Blockchain. It ensured that the first virtual shareholder meeting ended as scheduled without any challenges.
That app prevents any form of vote forgery and manipulation. It needs the users to scan their My Number card (similar to Social Security Number in the United States) for identification.
BitFlyer is committed to introducing the app to many other private companies’ shareholders’ meetings initially. Then, they said that they plan to target many other public companies’ shareholders’ meetings and other occasions.
On June 25, Coincheck, BitFlyer’s competitor, unveiled a new service for the virtual shareholder meetings. The service is known as Sharley and it is expected to be unleashed to the public in Autumn.
Virtual Shareholders Meeting
Speaking to reporters, BitFlyer said that there were just three people, including the CEO of BitFlyer Blockchain, Yuzo Kano, who attended the shareholders’ meeting physically. Eight other shareholders took part in this meeting but virtually.
The agenda of this congregation was to change the articles of the corporation partially to promote digitization amid the ongoing corona pandemic. It lasted about 20 minutes to end the meeting. One of the attendees said:
“It was more convenient than the traditional gathering of shareholders meetings since it doesn’t cost much and take time to travel.”
Another attendee responded:
“Since I got used to working remotely after COVID-19 state of emergency, I didn’t feel strange about using bVote.”