Votechain, a tech startup focused on blockchain based online digital solutions has launched India’s blockchain-based online voting platform eazyvc.com. It is the first blockchain-based e-voting platform in India and the application of this platform ranges from elections of IBC/IRPs, housing societies, education institutes, NGOs, government bodies, clubs, associations and more. EazyVC is also planning to launch company shareholder voting services like the e-voting platforms of NSDL and CDSL, after receiving the regulatory approvals.
Blockchain uses decentralised ledger technology (DLT) to save data in blocks that are chained together. Blockchain provides a much enhanced level of security compared to the conventional database system due to its decentralised data storage and hashing algorithm, which makes it nearly impossible to change, hack or manipulate the system.
The application of blockchain goes beyond cryptocurrency, which was the initial use case of the technology. It is now being used in a myriad of other applications like supply chain, healthcare, insurance, NFT marketplaces, public records, and real estate to name a few. Online voting is a space where blockchain has its distinctive advantage for the security it brings in and the cost-saving over conventional physical voting.
On the occasion, Vivek Kumar, CEO, Votechain commented, “Blockchain technology has the potential to bring revolutionary changes in the voting system that we have right now. The highly secured and transparent system creates a safe and anonymous voting environment. We have used the technology to bring a seamless voting experience for users.”
Kunal Tomar, COO, Votechain mentioned, “Blockchain-based online voting system can deliver the need for a trusted and secured voting process at a significantly lower cost as compared to physical voting. EazyVC has brought industry veterans in the field of technology, digital marketing, and regulatory compliance together under an umbrella to build a platform that will change how voting is seen and done across the globe.”