Dubai, United Arab Emirates, October 18, 2016 --(PR.com
)-- In a joint effort with ADX (Abu Dhabi Securities Exchange) TTS moved forward with the implementation of TTS-eVote™ as part of ADX’s eServices Platform – a digital platform (previously implemented by TTS in record time) supporting applications that automate the workflow process for IPOs and Tradable Rights Issues, AGM / EGM Meeting and Voting Management and a Cash Dividend Distribution and Tracking Management System.
TTS-eVote™ - a Blockchain application that utilizes the technologies of the Internet, Smart Phones, and real-time Bio-metric Identity Verification (provide by Emirates Identity Authority) to provide a ‘bullet-proof’ eVoting Management Solution.
The old paper-based way of Shareholding / Proxy voting, for candidates and resolutions at an AGM/EGM venue, has been replaced with the use of the Shareholder’s / Proxy’s Smartphone; to register at the meeting site. Also, the new eVoting process enables ‘on-site’ as well as ‘remote voting’ from home or office anywhere in the world (where a Smartphone can be used). If Smartphone use is not available, the Shareholder can connect over the Internet – register and attend the meeting – assign a proxy or vote himself during the meeting.
Cecil O’Brien Owens, Chairman and CEO says, “the TTS-eVote™ processes are tightly integrated (in real-time) with the Emirates Identity Authority (which has issued Smart Identity Cards to all residents) for Shareholder use when registering at the venue. The Shareholder places his card in the reader for instant verification that the Card is authentic and then places his finger on the pad and is instantly validated as the person using the Card. The Shareholder is asked to enter his mobile number and immediately receives an SMS with a ‘pin number’ and a ‘site access URL’ for meeting details / voting for candidates / resolutions (once voting is enabled during the meeting).”
Cecil goes on to say, “Other features of using a Smartphone or Tablet / Laptop to vote, is that the Shareholder can view graphical representations of candidates or resolutions for which he has cast his vote(s). He can also see a graph of the Quorum results and the status of his votes as registered on the Blockchain; all while remaining anonymous!”
Total Technologies and Solutions FZ-LLC is a Primary Software House with market leading automated management applications in the Banking and Financial Market sectors. TTS’ automation of the management of the IPO and Tradable Rights subscription collection processes have all but eliminated the use of paper during an Offer Period.
Be sure to stop by the UAE eGovernment Pavilion at GITEX this week; to view a demo of ADX-eVote™.
DIC Bldg. 13, Office 102
Dubai Internet City, Dubai, United Arab Emirates