Voting and Decision-Making

Voting and Decision-Making

Providing a highly secure technological platform for voting is an important task facing not only governments, but also all those commercial organizations and social institutions that conduct their activities based on the decisions expressed through their members' votes. Blockchain technologies offer a new level of transparency, authenticity and protection for the voting process itself. Apart from solving traditional problems that can plague any standard voting procedure, blockchain offers new opportunities, connected with the use of tokens as digital identifiers for the voting ballots:

the introduction of a fractional ballot-token allows you to take into account the differences in the attitudes of the participating voters; one ballot can be fractioned into several options to be selected by the voter;

the addition of proxy voting creates an opportunity for conducting both direct voting and voting by proxy and, if necessary, for combining both in a single ballot;

blockchain provides an excellent basis for introducing machine learning to the voting procedures and that can lead to the improvements in the quality of the decision-making process, something that can be beneficial both for businesses and for social institutions alike. 

In addition, the automation of the voting process by blockchain makes considerable reductions in the voting costs that, due to the size of the institution, can become astronomical. 

Our team at Bit-Labs developed our own concept for a decentralized decision-making system, utilizing the principles of machine learning. Initially, this system was developed as a basis for an overall cryptocurrency fund management automation that would have allowed our investors to manage their funds directly. The model of a decentralized corporation was our original target model. But while working on this project, we discovered other possible applications for this technology, specifically, when conducting voting on social media. 

Another promising area for applying this technology of decentralized decision-making and voting are the multiple user game apps, e.g. lotteries or cyber sport activities with a multiple-user betting and award distribution system. 

If your project can benefit from the advantages of the decision-making system, based in blockchain, please let us know. We will provide you with a team of experts that will adapt our technological solutions to your specific needs.