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The Future Of Corporate Governance: ACCESS Will Use Tezos-Based E-Voting Solution For Their 2022 Election

The Association of Cryptocurrency Enterprises and Start-ups, Singapore (ACCESS) announced that it will be using the blockchain-based e-voting solution developed by ELECTIS to elect their new board members at the 2022 Annual General Meeting (AGM) on Friday, 28th January 2022.

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ACCESS And ELECTIS

The Association of Cryptocurrency Enterprises and Start-ups, Singapore (ACCESS) announced that it will be using the blockchain-based e-voting solution developed by ELECTIS to elect their new board members at the 2022 Annual General Meeting (AGM) on Friday, 28th January 2022.

ACCESS is an organization that aims to facilitate the education, engagement, and advocacy for Singapore as a premier blockchain and fintech hub.

Among its 400+ members are companies and businesses within the Singapore blockchain and cryptocurrency space, including exchanges, merchant transaction services, vending machines suppliers and miners.

Voting will take place during the ACCESS AGM and will be conducted as follows: AGM attendees will undergo user authentication on the ELECTIS web app. The set of rules will be registered in a smart contract.

Think of general information such as the name of the election, the number of votes per ballot, the time period of the election, the candidates, and the voters eligible to participate.

The smart contract would be equivalent to the legal documents that exist as proof that an election took place. A “Key Ceremony” will then be held to share the encryption keys for the election and for security purposes.

At the end of the voting, the cast ballots are published in their encrypted form in the election record. The encryption on ELECTIS is such that no individually casted ballots need to be decrypted to determine the results of the vote (homomorphic encryption).

Once the election has concluded and the contest has been tallied and decrypted, the record of all related activities as part of the election will be published on IPFS decentralized storage and the artifacts of the election recorded on the Tezos blockchain.

The ACCESS 2022 AGM will include an address by ACCESS Chairman Anson Zeall. Voting for the 2022/2024 Executive Committee includes the appointment of a new chairman, secretary-general, treasurer, along with 4 committee members. In addition, the AGM will also see discussion of any proposals, if any, from members in attendance.

Anson Zeall, Chairman of ACCESS, said:

“At ACCESS, we collectively represent the interests of some of the blockchain ecosystem’s leading organizations as we look to cement Singapore’s position as a hub for blockchain innovation.

It’s only fitting that we, as an industry body, use live blockchain voting as a testament to how far this technology has come.

With ELECTIS, we hope to emphasize the tangible benefits that blockchain can offer in ensuring integrity and accountability in corporate governance.”

Franck Nouyrigat and Gilles Mentré, Co-Founders of ELECTIS, said:

“At ELECTIS, we endeavor to strengthen the foundations of democracy with technology. The ability to securely and transparently, in a verifiable manner, conduct elections is a fundamental human right that should be a standard across all governments and organizations.

We hope that in supporting ACCESS for this year’s board elections at their AGM, we can show the true, transformative power that decentralization and blockchain can stand to offer in injecting greater trust in the electoral process.”

ELECTIS current use in France, Swiss and the United Nations Framework Convention

The ELECTIS e-voting solution on Tezos is used in France (Neuilly-sur-Seine) and Switzerland (project Baloti).

In November 2021, ELECTIS worked with the United Nations Framework Convention on Climate Change’s official youth constituency YOUNGO for its elections during COP26.

Tezos was chosen for its low energy consumption and low transaction fees. Metacollector aims to later expand to Ethereum 2 when it is deployed.

Disclaimer

Nature of Content: All content published on https://xtz.news, whether written, auditory, or visual, is for informational purposes only. Opinions expressed therein are solely those of the individual authors and do not reflect the views of XTZNews or its management.

Not Financial Advice: No content on this website constitutes investment, financial, legal, or tax advice. Users should not construe any such information as a recommendation to buy, sell, or hold any investment or security or to pursue any particular investment strategy.

Accuracy and Completeness: While XTZNews makes every effort to ensure the accuracy and reliability of information, we do not warrant or guarantee the timeliness, completeness, or accuracy of the information presented. The website may contain errors, omissions, or inaccuracies. We disclaim all warranties, both express and implied, regarding the information, including but not limited to, any warranty of merchantability or fitness for a particular purpose.

Endorsements: References to specific entities, products, services, processes, or other information does not constitute or imply endorsement, sponsorship, or recommendation by XTZNews. Blockchain technology is in a developmental phase, and the engagement with the technology and its associated entities carries inherent risks.

User’s Responsibility: Users are encouraged to conduct their own research and due diligence and to seek the advice of qualified professionals before making any investment or decisions related to content on this site. Engaging with blockchain technology, cryptocurrencies, and associated applications should be undertaken with caution, understanding the inherent risks involved.

Limitation of Liability: Under no circumstances will XTZNews or its affiliates, partners, officers, directors, employees, shareholders, agents, or licensors be liable for any direct, indirect, incidental, special, consequential, or punitive damages, including without limitation, loss of profits, data, use, goodwill, or other intangible losses, resulting from (i) your access to or use of or inability to access or use the site; (ii) any content obtained from the site; or (iii) unauthorized access, use, or alteration of your transmissions or content, whether based on warranty, contract, tort (including negligence), or any other legal theory, whether or not we have been informed of the possibility of such damage, and even if a remedy set forth herein is found to have failed its essential purpose.

Seek Independent Advice: Before undertaking any financial investments, potential investors are advised to seek guidance from independent financial, legal, and tax professionals.

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