Nasdaq’s Blockchain Technology to Transform the Republic of Estonia’s e-Residency Shareholder Participation
February 12 2016 - 4:00AM
Nasdaq (Nasdaq:NDAQ) and the Republic of
Estonia have announced that Estonia’s e-Residency platform
will be facilitating a blockchain-based e-voting service to allow
shareholders of companies listed on Nasdaq’s Tallinn Stock
Exchange, Estonia’s only regulated securities market, to vote
in shareholder meetings. The country’s e-Residency platform is an
electronic identity system used by both Estonian residents and
those with business interests in the country to access government
services through e-Residency digital authentication. The program
marks the second official blockchain project Nasdaq is executing on
after successfully delivering the first private
securities issuance between an investor and company via Nasdaq
Linq, its blockchain-enabled platform.
As part of the program’s pilot, shareholders who
are Estonian or Estonian e-residents will be able to participate in
the corporate governance of companies more conveniently and
securely than ever before. The e-Residency platform vastly improves
the ability to authenticate shareholders for the e-voting service,
while blockchain technology will allow votes to be quickly and
securely recorded, streamlining a proxy voting process that has
historically been labor-intensive and fragmented. The pilot is
aimed to launch in 2016.
“I’m delighted Nasdaq will be using the e-Residency
platform to offer shareholders a new e-voting system,” said Kaspar
Korjus, Program Director, e-Residency. “When we started the
e-Residency project a year ago we knew we would change the way
people think about nations and citizenship. Now, via our e-voting
collaboration with Nasdaq, we will be revolutionizing corporate
governance.”
Making it easier and safer for shareholders to
participate in company meetings and votes is not just a matter of
convenience or security; these interactions are the primary ways
that a company’s shareholders interact with corporate management
and shape the future of the company they own. By making e-voting
more efficient and secure, the blockchain-based system has the
potential to empower shareholders and improve their engagement.
“On the heels of the successful execution of a
Blockchain transaction in the US private market, we are pleased to
further advance this technology in Estonia,” said Hans-Ole
Jochumsen, President, Nasdaq. “Estonia’s robust information society
and forward thinking coupled with the agility its size affords,
creates a unique opportunity to premiere the e-voting pilot in
Estonia. We’re excited to see the development of this project over
the coming months, and look forward to working closely with the
government of Estonia to set a transformative example of the future
of governance.”
Additional Links:
- E-Residency: http://e-resident.gov.ee
- Nasdaq &Nasdaq Baltic:
http://business.nasdaq.com/, http://www.nasdaqbaltic.com/
Note to Editors:
The Estonian e-Residency program allows anyone in the world to
become a digital resident of Estonia. Not only can Estonian
e-residents easily found and manage Estonian companies online, they
can also digitally authenticate themselves. Applicants for
e-Residency are fingerprinted and background checked by the
Estonian state. Once approved, they are issued an electronic ID
card which, in combination with a 4-digit pin, can be used for
secure digital identification.
About e-Residency
Estonia, an EU member state, is the first
country to offer e-Residency – a transnational digital identity
available to everyone in the world. Through its e-Residency
program, Estonia is building a borderless digital society and
unleashing the world’s entrepreneurial potential. After becoming an
e-resident entrepreneurs and freelancers can open and run location
independent businesses online, apply for a bank account* and
conduct e-banking, get access to international payment service
providers, declare taxes, sign all relevant documents and contracts
remotely, and get easier access to EU markets. This means a
Singaporean entrepreneur can, for example, run a company from the
Philippines while serving clients in Germany. The same e-Residency
platform allows financial and web service providers, start-ups and
developers to avoid country specific solutions and have quick
access to international markets by letting clients from anywhere in
the world use their services via the clients’ secure and
government-verified digital identities. E-residency does not give
citizenship or tax residency and does not confer the right to live
in or visit Estonia or the European Union. *E-Residency does not
guarantee a bank account, account opening is at the sole discretion
of the banks. To learn more, visit: e-resident.gov.ee
About Nasdaq
Nasdaq (Nasdaq:NDAQ) is a leading provider of trading, clearing,
exchange technology, listing, information and public company
services across six continents. Through its diverse portfolio of
solutions, Nasdaq enables customers to plan, optimize and execute
their business vision with confidence, using proven technologies
that provide transparency and insight for navigating today's global
capital markets. As the creator of the world's first electronic
stock market, its technology powers more than 70 marketplaces in 50
countries, and 1 in 10 of the world's securities transactions.
Nasdaq is home to more than 3,700 listed companies with a market
value of approximately $9.6 trillion and nearly 10,000 corporate
clients. To learn more, visit: nasdaq.com/ambition or
business.nasdaq.com.
Cautionary Note Regarding Forward-Looking
Statements
The matters described herein contain forward-looking statements
that are made under the Safe Harbor provisions of the Private
Securities Litigation Reform Act of 1995. These statements include,
but are not limited to, statements about Nasdaq and its products
and offerings. We caution that these statements are not guarantees
of future performance. Actual results may differ materially from
those expressed or implied in the forward-looking statements.
Forward-looking statements involve a number of risks, uncertainties
or other factors beyond Nasdaq's control. These factors include,
but are not limited to factors detailed in Nasdaq's annual report
on Form 10-K, and periodic reports filed with the U.S. Securities
and Exchange Commission. We undertake no obligation to release any
revisions to any forward-looking statements.
NDAQG
For Media Inquiries:
Nasdaq:
Ryan Wells
ryan.wells@nasdaq.com
Direct: +44 (0) 20 3753 2231
Mobile: +44 (0) 7809 596 390
E-Residency:
Katre Kasmel
Katre.kasmel@eas.ee
Mobile: +372 506 5081
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