Leading provider of proxy services secures blockchain patent05.17.18
Broadridge Financial Solutions, Inc., which provides investor relations communications for their clients, was recently granted a patent for using blockchain technology to enhance the processes for proxy voting.
According to Broadridge Financial’s press release, the patent “covers Broadridge's private permissioned blockchain system and method of implementing various features of Broadridge's end-to-end proxy solution that enhance the proxy voting experience for key stakeholders.”
The company said it has conducted a pilot program with two global investment banks, and if successful, it’s possible that most, if not all, proxy voting for public companies will be conducted via blockchain in the future.
"This blockchain patent is a significant milestone in Broadridge's commitment to drive the innovation roadmap for the financial services industry," said President and Chief Operating Officer of Broadridge, Tim Gokey.