Our first project passed a major milestone in early December. Meeting 100% of both the accuracy and scalability performance requirements AST and NuArca's Hyperledger Fabric based proxy voting solution passed the scaled pilot phase with flying colors. The system processed over 8 million voting shareholders representing over 1 trillion shares with perfect accuracy in tabulation and meeting high volume processing benchmarks.
We are now working closely with AST to move this system into live production with a target go-live date of March 2018. By end of 2018 the majority of AST's proxy voting voting and tabulation services will be using this system. The system will be hosted as a cloud service easily enabling extension to other proxy service providing stake-holders. This new blockchain based proxy voting system will one of the very first production uses of blockchain in the financial services industry. Stay tuned for more information and updates.