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Monday, November 29, 2021
Home News Waves To Develop “liquid Democracy” Applications

Waves To Develop “liquid Democracy” Applications

The Waves platform is planning to develop a new form of Blockchain-based voting system, characterised as “liquid democracy”.

It is the next major use case for Blockchain, which is not fundamentally a financial technology but can be applied far beyond the popular use cases of peer-to-peer currencies like bitcoin, and the more recent but controversial phenomenon of ICOs or Initial Coin Offerings. Yet no government or business to date has implemented such a voting system, allowing Waves to pioneer the first application of its kind.

“Fair, efficient, transparent but anonymous voting systems are a clear use case for Blockchain technology,” comments Waves CEO, Alexander Ivanov. “This is an area deserving of further research and engagement, and we believe we have something truly worthwhile to offer here.”

Existing electoral systems, although based on democratic models, have significant limitations. Representative democracy, for example, requires voters to give up their rights to a proxy, who wields influence on their behalf. Direct democracy, whilst ostensibly fairer, tends not to scale well for a number of reasons – including its requirement that voters are well-informed about every issue on which they make a decisions. Liquid democracy combines the advantages of both systems, allowing voters to make a decision themselves or to defer to an expert, as appropriate.

The project is a collaboration between a number of different organisations and research groups:

The result will be a voting protocol that can be used in real-world production systems.

Viable implementations

Whilst implementations of liquid democracy already exist – including Google Votes – these have focused on basic functionality without taking into account the need for privacy. Bingsheng Zhang, Assistant Professor in Cybersecurity at the University of Lancaster, and Hong-Sheng Zhou, Assistant Professor of Cryptography at Virginia Commonwealth University, have designed an implementation suitable for real-world use in the 21st century.

Zhang and Zhou’s paper proposes an efficient liquid democracy e-voting scheme that brings together both delegation and voting, via the new concept of statement voting.

“Statement voting can be viewed as a natural extension of traditional candidate voting. Instead of defining a fixed election candidate, each voter can define a statement in his or her ballot but leave the vote “undefined” during the voting phase. During the tally phase, the (conditional) actions expressed in the statement will be carried out to determine the final vote… We remark that our statement voting can be extended to enable more complex voting and generic ledger-based non-interactive multi-party computation. We believe that the statement voting concept opens a door for constructing a new class of e-voting schemes.”

Richard Kasteleinhttps://www.the-blockchain.com
In his 20s, he sailed around the world on small yachts and wrote a series of travel articles called, 'The Hitchhiker's Guide to the Seas' travelling by hitching rides on yachts (1989) in major travel and yachting publications. He currently lives in Groningen, the Netherlands where he has set down his anchor to raise a family and write. Founder and publisher of industry publication Blockchain News (EST 2015) and director of education company Blockchain Partners (Oracle Partner) – Vancouver native Richard Kastelein is an award-winning publisher, innovation executive and entrepreneur. He has written over 2500 articles on Blockchain technology and startups at Blockchain News and has also published in Harvard Business Review, Venturebeat, Wired, The Guardian and a number of other publications. Kastelein has an Honorary Ph.D. and is Chair Professor of Blockchain at China's first blockchain University in Nanchang at the Jiangxi Ahead Institute software and Technology. He has over a half a decade experience judging and rewarding some 1000+ innovation projects as an EU expert for the European Commission's SME Instrument programme as a startup assessor and as a startup judge for the UK government's Innovate UK division. Kastelein has spoken (keynotes & panels) on Blockchain technology at over 50 events in 30+ cities.
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