Waves Enterprise Commences Beta Testing for Blockchain Corporate Voting Platform

Waves Enterprise Commences Beta Testing for Blockchain Corporate Voting Platform

Blockchain
June 6, 2020 Komal Joshi
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Waves Enterprise has launched Voting — a blockchain-based e-voting platform centering corporate clients — for public beta testing. According to the official declaration, issued on May 28, the new service intends to “leverage all the advantages of blockchain technology while retaining traditional voting rules and processes.”  Artem Kalikhov, chief product officer of Waves Enterprise, said
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Waves Enterprise has launched Voting — a blockchain-based e-voting platform centering corporate clients — for public beta testing. According to the official declaration, issued on May 28, the new service intends to “leverage all the advantages of blockchain technology while retaining traditional voting rules and processes.” 

Artem Kalikhov, chief product officer of Waves Enterprise, said in a statement that only a decentralized solution could guarantee information protection and transparency in online Voting, “The blockchain provides a trustless environment for data exchange between independent encryption servers that act as participants of voting protocol. Voting results are protected by cryptographic algorithms. Blockchain technology does not allow forging or stealing a vote.”

Voting’s blockchain architecture is surely based on the Proof-of-Stake and Proof-of-Authority consensus algorithms, which supposedly enables it to process “up to 1,000 requests per second”. Kalikhov said in a statement that the e-voting platform is important for companies that practice shareholder voting, and are involved in confidential internal Voting amongst employees. According to him, Voting is not restricted to a specific industry and can provide to banks, oil and gas corporations, industrial companies, IT-giants, and healthcare institutions. 

“I can tell that one Russian oil and gas company is interested in using the electronic voting service for their internal needs,” he added. The platform will remain free for the span of public beta testing, which is expected to last up to two months. The cost of the fully-fledged solution will be individual for each consumer. It will take into account the number of nodes in the blockchain network and the number of encryption servers, amongst other factors. 

Approved by the Russian government

Earlier in April, the Russian Ministry of Communications attached Waves Enterprise to the Unified Register of Russian Software for Computers and Databases. As a Waves Enterprise representative said in a statement at the time, to cut, the company had to demonstrate that its software does not include any proprietary modules that were produced by or belong to foreign firms, does not involve trade secrets, and belongs to a Russian company.

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