Abu Dhabi becomes the first state in Africa to initiate a blockchain based voting service on one of their trading exchanges.
Traditional methods of having stakeholders vote for future decisions included physical contact between parties. However the introduction of the blockchain in this process will not only make voting faster and efficient. Blockchain technology is decentralized making sure that all votes and the voting process remain transparent. The exchanges project was also displayed at GITEX in Abu Dhabi among many other applications in development.
ADX is committed to creating a business environment that is both competitive and flexible. Accordingly, adopting blockchain technology in our projects comes in alignment with the digital transformation of Abu Dhabi’s government services as we constantly strive to introduce new ways that ease the process of doing business in the Emirate.”
Rashed Al Blooshi, ADX’s chief executive officer
The blockchain based voting system is one of the first of its kind available to the public allowing stakeholders to make decisions collectively by passing votes. The exchange also aimed to revolutionize and modernize the emirates economy as it transitions from commodities based to payment reliant.
To conclude the blockchain based voting service is one of the first implementations of the Bitcoin based drive which was initiated earlier this year. Many hope that this project will spark further development in Dubai, which has been the centre of the internet of things in Africa. You too can purchase some Bitcoin via the NairaEX exchange, Nigeria’s leading Bitcoin exchange, and have your Bitcoin delivered in a matter of hours so you could experience voting on the new network.