Votechain, a tech startup centered on blockchain based mostly on-line digital options has launched India’s blockchain-based on-line voting platform eazyvc.com. It’s the first blockchain-based e-voting platform in India and the appliance of this platform ranges from elections of IBC/IRPs, housing societies, schooling institutes, NGOs, authorities our bodies, golf equipment, associations and extra. EazyVC can also be planning to launch firm shareholder voting companies just like the e-voting platforms of NSDL and CDSL, after receiving the regulatory approvals.
Blockchain makes use of decentralised ledger expertise (DLT) to save lots of information in blocks which might be chained collectively. Blockchain supplies a a lot enhanced degree of safety in comparison with the traditional database system as a consequence of its decentralised information storage and hashing algorithm, which makes it almost unattainable to vary, hack or manipulate the system.
The appliance of blockchain goes past cryptocurrency, which was the preliminary use case of the expertise. It’s now being utilized in a myriad of different functions like provide chain, healthcare, insurance coverage, NFT marketplaces, public data, and actual property to call just a few. On-line voting is an area the place blockchain has its distinctive benefit for the safety it brings in and the cost-saving over standard bodily voting.
On the event, Vivek Kumar, CEO, Votechain commented, “Blockchain expertise has the potential to carry revolutionary adjustments within the voting system that we’ve got proper now. The extremely secured and clear system creates a secure and nameless voting surroundings. We now have used the expertise to carry a seamless voting expertise for customers.”
Kunal Tomar, COO, Votechain talked about, “Blockchain-based on-line voting system can ship the necessity for a trusted and secured voting course of at a considerably decrease price as in comparison with bodily voting. EazyVC has introduced trade veterans within the area of expertise, digital advertising, and regulatory compliance collectively below an umbrella to construct a platform that may change how voting is seen and achieved throughout the globe.”
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