Brazilian Fintech Association ran a pilot for their 1st board election powered by Ethereum Classic (ETC) and OriginalMy‘s Blockchain ID and Signing platform. It was a 100% success, OriginalMy team reports.
More than 400 companies which are members of the Brazilian Fintech Association, used OriginalMy platform (the same company who created an amazing possibility to register world’s first newborn on Decred (DCR) blockchain) on Ethereum Classic to carry out shareholder voting. It is the first time blockchain is used for the board election.
Brazilian Fintech Association ran a pilot for their 1st board election powered by OriginalMy’s Blockchain ID and Signing platform. 100% success achieved! Next steps: improve all the process. Stay tunned, more news soon! $ETC @EthereumClassic @ClassicIsComing #ethereumclassic pic.twitter.com/jWldRLkMwj
— OriginalMy (@OriginalMyCom) October 12, 2018
Such voting model has been chosen due to high costs running the traditional one. As many association members are from different states and have different regulation patterns – lawyers allowed the process to be carried on OriginalMy platform only because the company can identify who is the signatory of the vote which is cheaper and more reliable.
Fintechs voting on blockchain is the next big thing happening right know as ‘fintech era’ connects people around the globe and blockchain gives an opportunity to make walls transparent.