Waves Enterprise, which has completed the Waves business-oriented project, announced the launch of a blockchain voting system that is primarily focused on business and governance.
The Waves blockchain system is used at every stage of the voting process, with votes recorded and then counted with fully encrypted protections. The symmetric cipher is used for accurate voting without the need to reveal the identity of the person who throws each sheet.
Although the system is primarily intended for low-performance environments such as corporate governance, the technology has recently been tested in Russia during local and parliamentary elections.
The team says experience has shown that the platform is ready for distribution, but the overall product is somewhat different from what was used in Russia, Artyom Kalikov, head of product, told Cointelegraph:
“These variants used a voting system developed jointly with Rostelecom […], which is based on a similar encryption protocol, but has many important differences. For example, it uses Russian encryption, has different identification and anonymity mechanisms, [and] the voting process changes. ”
While Kalikov said the Brazilian government is also looking into the potential implementation of blockchain voting, the current product is for corporate voting and board voting – a market that Waves estimates is worth $ 100 million worldwide.
Different target customers made the platform available to the audience. During the elections in Russia, the platform was criticized by some for the inability of outside parties to contact and verify the nodes of the blockchain. Kalikov said the commercial version runs on the Waves Enterprise Mainnet, an authorized but public blockchain.
The platform uses a variety of technologies to prevent voting and voting fraud. Kalikov said using the blockchain and signing cryptocurrency transactions ensures that the survey will not be altered or deleted after it is stored in the ledger. He went on to explain:
“The use of symmetric encryption makes it possible to automatically collect election results without decrypting each individual poll, which ensures the confidentiality of the poll. The use of a distributed key generation protocol and multiple independent encryption servers eliminates the possibility of a single player with a “master key” and ensures that no one can decode the results or see individual votes until the poll is complete. ”
Overall, the combination of crypto technologies, blockchain, and control and balancing systems aims to reduce the likelihood of fraud in the selection process. However, exploiting potential blockchain or backdoor errors does not prevent, as some other platforms have shown.
Provided the electoral system is sustainable, the statute remains as reliable as the voter registration process. Electoral fraud is often associated with falsified or falsified ballot papers — for example, by casting ballots on behalf of deceased, criminals, or unqualified voters; Nudge or bother voting for a specific candidate; Or leave loopholes allowing the same person to cast multiple votes.
Kalikov said that voters are registered using a public and private key system. Smart contracts keep records of all valid voters using their public keys, while each private key remains on their personal devices. To protect against unfair voting, the system allows voters to change preferences at any time before the end of the election.
Kalikov noted that the system “, of course, cannot protect users’ personal devices from hacking, loss or user-initiated key transfer.” When developing voting software that secures private keys, users must still “follow e-health rules – use anti-virus software and install the latest operating system updates.”
In the future, Kalikov added, the team plans to introduce technologies that allow authenticating the identity of each user. However, in a corporate setting, the current decision may be sufficient – it may be easier to detect forgery with additional ballots in elections to non-governmental organizations.