Companies require shareholder involvement at a number of times, for example, for board elections, bylaw amendments, business mergers, investment strategy changes, etc. These decisions are usually taken in meetings where the proposals are presented to shareholders. Not all shareholders can attend meetings in person, so they assign that responsibility to a proxy — a person or entity whose function it is to cast the vote on their behalf as they intended.
However, the proxy voting process involves many intermediaries, and it is hard for all parties to trace, vote, reconcile, and communicate with all those involved in the process. This impairs transparency, makes it hard to verify data, and makes it difficult to trace data flow end-to-end.
The goal of our Daml-based solution for proxy voting is to provide a traceable, secure, and immutable digital copy of the voting views expressed by the shareholders and to guarantee that the voters can exercise their rights safely and transparently. Furthermore, if regulators need access to voter information, our solution can also meet such requirements.