BLOCKCHAIN
According to Sergio Gámez , Global Head of Shareholders and Investor Relations at Santander , “ The Annual General Meeting is one of the most important corporate governance events for any listed company . In the case of Santander , having very fragmented capital , it is very important to ensure the participation by investors and shareholders , and this year using blockchain technology for the institutional vote has been a great help in terms of transparency and agility across the vote lifecycle .”
Shareholders currently send instructions for their proxy votes through a myriad of disconnected middle ( wo ) men ; unless these people become connected on a centralised system away from the blockchain , it ’ s very difficult to ensure that all of an individual stakeholder ’ s instructions are shared at a meeting .
Following the example of Banco Santander ’ s 2018 AGM , facilitated by Fintech leader Broadridge Financial Solutions ’ blockchain-powered proxy distribution service , in collaboration with J . P . Morgan and Northern Trust , it ’ s clear that a shareholder network can be created on the blockchain for each meeting , on which all relevant members can participate in crucial processes and votes , regardless of attendance and location .
Renewable Energy Distribution Let ’ s jump onto the environment for a second . Did you know that electrons generated by fossil fuels and renewable sources are essentially identical ? Ergo , unless you know what was put into the electricity grid to create power , there ’ s no 100 % -tamper-proofed way of verifying that the electricity you ’ re using is ‘ clean ’. In a world where clean energy and environmentally-friendly habits are an absolute imperative , this is a problem , don ’ t you think ?
“Using blockchain technology for the institutional vote has been a great help in terms of transparency and agility ”
SERGIO GÁMEZ GLOBAL HEAD OF SHAREHOLDERS AND INVESTOR RELATIONS , SANTANDER supplychaindigital . com 67