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This service permits electronic voting for shareholders meetings, contributors meetings, and bondholders meetings in Latin America.
The saying goes that every crisis generates an opportunity. This is known by Claudio Garín, Operations and Services Manager of the Depósito Central de Valores (DCV), who last year and given the impossibility of being able to gather a significant number of people in the same place to hold a shareholders or contributors meeting, had to implement a technological system that would permit remote voting. “It was a challenging and successful experience and created the opportunity to continue advancing in other components and give life to Click & Vote,” he explains.
“Click & Vote is a service developed by DCV and the Santiago Stock Exchange, which permits electronic voting for shareholders meetings, contributors meetings, and bondholders meetings in Latin America. The preceding, through a modern system that operates based on Blockchain technology.”.
Garín comments that this technology has three essential components. The first is registration, and for this they have developed a security system that validates the identity of the person (shareholder, contributor or representative) against the information in the civil registry. In this way, you can authenticate and ensure that the person who is participating is authorized to do so. The second is a module for attendance and voting through Blockchain technology, and finally support for shareholders and contributors for possible connectivity or navigation doubts that they may present during the event.
Additionally, and to increase interaction, some upgrades have been incorporated: the possibility of transmitting the event by streaming, the selection of audios, among others.
Increase participation
The possibility of holding a shareholders or contributors meeting through the Click & Vote service opens up advantages that can also impact the degree of participation in these. “It permits shareholders to be able to attend and vote at various meetings from their offices or homes without the need to travel; permits the eventual participation of shareholders distant from the physical place of the event; representatives of foreign shareholders can participate remotely and cover more than one meeting at the same time, among others”, comments Garín.
In this context, the DCV executive comments that generally the attendance and voting quorum are achieved with a reduced percentage of the shareholder base given the concentrations that exist at the controller, custodian, or institutional investor level. “The minority shareholders do not take the time, or it is expensive for them to move or take the time to go to the corporate event, considering they are not going to modify the decisions (given their minority stakes),” he adds. With this service, this barrier disappears, which could lead to a change in the willingness of minority shareholders to attend these meetings. “These technological solutions simplify the connection of the company to its shareholder base, because it is only necessary having a mobile device with Internet”, he concludes.
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