Abu Dhabi Securities Exchange (ADX) announced that it recently hosted Annual General Meetings (AGM) for 6 listed companies with the help of blockchain technology.

The meetings using blockchain, enabled shareholders to overlook and participate with increased transparency in the details of the meetings with advanced e-voting techniques. The six listed companies included 2 private joint stock companies and 4 public joint stock companies.

“I encourage the companies to use the blockchain technology, and I am confident that more training and practice of this technology will widen the positive outcomes as well as bring more companies to use Blockchain technology. This will go in line with Abu Dhabi 2030 Economic Vision that seeks to strengthen the digital transformation in the UAE,” Rashed Al Blooshi, ADX Chief Executive said.

With the help of blockchain technology, investors can use e-voting in AGMs and access statistical records of each company as well as its investors with smart devices. They can also vote from inside the UAE and overseas, the release stated.

ADX that was established in 2000, has become the first in MENA region to adopt and explore the potentials of blockchain technology.

“I believe that the partnership between ADX and its listed companies will further solidify when the digital culture becomes a common language. This is what ADX is working on through constant training and encouragement of utilizing the new technical enhancements and technological innovations by ADX,” Al Blooshi added.

The blockchain-based eVoting service announcement was made last October, which would allow the concerned parties to directly connect and monitor voting in any Annual General Meeting (AGM).