Swiss FinTech company Mt Pelerin recently conducted its first annual shareholder meeting on the Blockchain. Shareholders from around the world tuned in from the company's new mobile app, Bridge Wallet. Mt Pelerin continues to focus on the future of finance, specializing in asset tokenization and digital compliance.
Shareholder Meetings On The Blockchain
Mt Pelerin is a fintech startup focusing on the future of finance through asset tokenization and digital compliance. Prior to the development of Mt Pelerin, the company raised funding by offering shareholders 5% of the company through MPS tokens. The MPS tokens represent registered shares, in that 1 MPS Token = 1 share of Mt Pelerin. Each MPS token is good for one vote at shareholder meetings. By tokenizing its share-equity, Mt Pelerin was able to sell around the world, and offer direct and instant share transfers. Most recently, it was announced that Mt Pelerin conducted its first shareholder meeting on the Blockchain.
Shareholders from around the world leveraged the companies Bridge Wallet to participate in the shareholder meeting. The Bridge Wallet is a non-custodial digital wallet that Mt Pelerin recently brought to market. During the initial meeting, it was reported that 630+ shareholders were involved in the meeting. The board of directors gave their presentation through video, and shareholders leveraged their MPS Tokens to vote on the various topics in a secure manner.
Mt Pelerin Products
The fintech company has two primary products, Bridge Protocol, and Bridge Wallet. On the Bridge Protocol, companies have access to an open source platform that is used to issue and manage tokenized assets. The platform provides support for the issuance of cryptocurrencies, security tokens, and stablecoins. In doing so, the Bridge Protocol adheres to CMTA standards to follow compliance protocols. The Bridge Wallet is then utilized to manage the digital assets. This is why shareholders around the globe used the Bridge Wallet to participate in the annual shareholders meeting. In addition to managing digital assets, the non-custodial wallet can be used to buy various cryptocurrencies via bank transfers, and trade on uniswap.
In the press announcement, Mt Pelerin stated that:
“With these tools, Mt Pelerin brings a comprehensive alternative for the issuance, distribution, and management of digital securities at radically lower costs. If stock exchanges are the market for large corporations, the blockchain might very well become the market for all other companies.”
Blockchain Paving The Way For Shareholder Voting
In traditional voting, a shareholder ( voter ) has little way to verify that their vote was accounted for. Even if it was accounted for, a shareholder has no idea if their vote was altered. This is the reason that many believe one of the biggest blockchain use cases resides in shareholder voting. Within a corporation's charter and bylaws, shareholder feedback is required for various reasons such as bylaw amendments, board elections, and other business fundamentals. By transitioning into blockchain, voters are able to leverage an immutable, transparent, and trackable infrastructure to ensure overall transparency. Blockchain technology provides transparency to shareholders by ensuring that all votes can be traced, verified, and non-tampered.
Image Source: Mt Pelerin