Abu Dhabi Securities Exchange uses blockchain for voting service

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Abu Dhabi Securities Exchange uses blockchain for voting service
The technology was used recently at the annual general meetings for six listed companies on the Abu Dhabi Securities Exchange.

Published: Wed 31 May 2017, 6:53 PM

Last updated: Wed 31 May 2017, 8:55 PM

The Abu Dhabi Securities Exchange (ADX) has started implementing blockchain technology, enabling shareholders to participate with further transparency while using e-voting techniques.

The technology was used recently at the annual general meetings (AGM) for six listed companies, including two private joint stock companies and four public joint stock companies, on the ADX.

Rashed Al Blooshi, ADX chief executive, said: "I encourage companies to use blockchain technology. I am confident that more training and practice of this technology will widen positive outcomes and bring more companies to use this technology. This will go in line with Abu Dhabi 2030 Economic Vision that seeks to strengthen digital transformation in the UAE."

The ADX is the first in the Mena region and third globally to adopt blockchain technology. The launch in 2016 was part of the exchange's strategic innovations to further empower and strengthen services provided to local and foreign investors, listed companies and stakeholders.

Blockchain technology enables investors to use e-voting in AGMs and access statistical records of each company through smart devices. - Wam

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