KAS BANK revolutionises voting rights with blockchain
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KAS BANK revolutionises voting rights with blockchain 23 April 2018London Reporter: Jenna Lomax
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KAS Bank has released Voteroom, a new app developed by the company’s in-house innovation lab.
According to KAS Bank, the blockchain technology Voteroom will streamline the complex voting process making it more secure, transparent and more efficient, to transform how shareholders vote.
The programme, built using the Ethereum framework, will be put to the test for the first time at KAS Bank’s general shareholders meeting on 25 April.
Once the testing phase is complete, the app will be available to listed companies to purchase. It will be free for shareholders to use.
Pat Sharman, UK managing director of KAS Bank, commented: “Policymakers and trustees are increasingly looking to improve governance standards of pension schemes and we want to assist with this challenge across the investment process.”
She added: “Upholding shareholder’s democratic voting rights, we identified the gap for improved efficiency and transparency when communicating shareholders’ decisions on investment policies. This initiative demonstrates our commitment to innovation and improving governance standards via the use of technology.”
“It is encouraging to see the progression of further positive pioneering data services being developed by our forward-thinking KAS LAB, not only bringing institutional schemes into the technological age but ultimately making the lives of shareholders’ far easier.”
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