Explore Quartz, the blockchain solution
Quartz business solutions are designed for distributed ledger technology (DLT), built on the core principles of co-existence, integration, and interoperability.
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Industry
- Banking
Banking on purpose-led ecosystems
Solution
- Quartz™ - The Smart Ledgers™
Quartz™: Helping Organizations Collaborate in the Connected World
Highlights
- Legacy infrastructure, processes, and the reliance on in-person presence make AGMs and voting events time consuming and tend to result in low shareholder turnout and the lack of visibility and control in corporate compliance.
- The ‘general meeting services’ solution from Quartz provides a real-time digital view of such events to shareholders across geographies while automating the operational processes end-to-end.
- The meeting results are cryptographically stored on the blockchain ensuring that it is tamperproof thereby enabling transparency and immutability, boosting investor confidence, and meeting regulatory requirements.
Abstract
The pandemic magnified the critical need for a robust digital infrastructure for shareholder meetings, and the adoption to online meetings is an opportunity to create a paradigm shift in this space.
A blockchain-powered solution also enables transparency and immutability, boosting investor confidence and meeting regulatory requirements. The resolutions proposed and the voting results are cryptographically stored on the blockchain ensuring that it is tamper-proof. The ecosystem supports investors participating across geographies, eliminating the logistical challenges, and reducing the efforts in collecting votes. Computation of voting results can be conducted immediately, and the results can be announced within a shorter timeframe.
TCS’ Quartz™ suite of solutions are architected for coexistence, integration, and interoperability, enabling customers to assimilate blockchain technology into their businesses seamlessly. Quartz can facilitate the creation of a complete decentralized ecosystem and caters to organizations across Industry segments including financial services, banking, supply chain, energy & utilities and e-governance.
Challenge
The traditional world of general meetings (AGMs) has for long been challenged with ensuring sufficient investor participation and transparency.
There are significant manual interventions leading to delayed and costly processes. The physical ballot voting process leads to delayed result announcements.
Solution
The ‘general meeting services’ from Quartz is a cloud-ready, Distributed Ledger Technology (DLT)-powered virtual meeting solution.
The solution streamlines AGMs by introducing automation right from the setup to collection and consolidation of votes to real-time computation and dissemination of voting results upon closure.
Benefits
The solution enhances investor participation by supporting across geographies by eliminating logistical challenges.
The real-time view of voting status, results, and resolution data for the participants ensures greater transparency.
The tamperproof ledger ensures the sanctity of votes cast and audit trail for end-to-end tracking of changes to voting and resolution data.
Data confidentiality as each node/firm has access to clauses/sections relevant for them which is essential in meeting service events.
Administration and monitoring of the ecosystem through the command center.
Quick voting computation helps in timely result announcements.
Contact
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