Home » Blockchain-based voting is the future according to CZ and Vitalik Buterin

Blockchain-based voting is the future according to CZ and Vitalik Buterin

by Lisa Zheng
Blockchainbased Voting

Binance and Ethereum’s chieftains believe that blockchain-based voting systems could do a world of good to the voting system.

There could be some technical glitches, yet Russia last year managed to complete its voting process last year with a blockchain-based voting system

Both the leaders agree

Changpeng Zhao or CZ, Binance’s Chief Executive, and Ethereum’s co-founder Vitalik Buterin is in a major discussion and part-agreement and this time it is about how Blockchain technology user cases are evolving so much that it can now be used in the voting system. The blockchain-based voting system can achieve a major breakthrough and improve the democratic process in the States. 

The vote counts are yet to be done and the winner is yet to be revealed which made CZ tweet that it is due to the uncertainties involved in the voting process, it is now the right time for the developers to develop and build a ‘blockchain-based mobile voting app’. The CEO of the huge exchange urged the developers saying:

“Develop something now, get it approved (obviously hardest step), and get 300 million-plus (fully KYC’ed) users in 4 years’ time. Any capable developer should be willing to do it ‘for free.’”

Buterin also shared the post and further added that although this is fine, yet to achieve this could be a herculean task.

“The technical challenges with making a secure cryptographic voting system are significant (and often underestimated), but IMO this is directionally 100% correct.”

He clarified that a cryptographic approach doesn’t necessarily mean a blockchain approach, although he explained it could be used to “maximize anti-censorship guarantees.”

He said that there is no doubt that such a system could resolve the question of seeing whether every single vote has been counted or not, but as of now, it might not be possible to determine whether the votes were valid or not. But in the end, Buterin said that the current system can surely be improved. 

Mixed reactions

Charles Hoskinson, the founder of Cardano also believes that blockchain voting is the right direction to take and it was also in the rounds that Cardano has been specifically building infrastructure for this particular use case. CEO and Founder of MyCrypto Taylor Monahan believe that the sector is not ready yet because of the apparent security issues facing the current blockchain and cryptocurrency networks. Blockchain democracy is needed but it is not there yet! She said: 

“It’s not [because] people want money. It’s because people want power. Money = power. Votes = power.”

Jonathon Johnson, Overstock chief said that Voatz, a voting app backed by his organization’s Medici Ventures can be a major problem solver for the situations facing the current elections. But Voatz has also come under the scanner of criticism as it has shown some loopholes in its security. Last year Russia successfully applied a blockchain-based voting system built on Waves recording almost 300,000 votes. 


The information discussed by The Coin Magazine is not financial advice. This is for educational and informational purposes only. Any information or strategies are thoughts and opinions relevant to accepted levels of risk tolerance of the writer/reviewers and their risk tolerance may be different than yours. We are not responsible for any losses that you may incur as a result of any investments directly or indirectly related to the information provided. Do your due diligence and rating before making any investments and consult your financial advisor. The researched information presented we believe to be correct and accurate however there is no guarantee or warranty as to the accuracy, timeliness, completeness. Bitcoin and other cryptocurrencies are high-risk investments so please do your due diligence. Copyright The Coin Magazine All rights reserved.

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