Overstock’s Medici Ventures and Techstars led a Series A round for the Blockchain-based mobile voting platform, Voatz, who’s platform uses Blockchain technology to allow users to vote in a range of elections though a secured device. The funding was also helped by Oakhouse Partners and Urban Innovation Fund.
Voatz have announced that the funding will be used to invest in developing their system. They aim to improve the usability and accessibility as well as boosting security now that it is launching new partnerships with cities, states and other ‘international jurisdictions’.
A pilot effort was recently conducted by Voatz with the Colorado city, Denver. This was in an effort to give personnel such as military and other US citizens in other countries a different method of voting to the standard post-based vote for people who are absent when the election is taking place. According to Voatz, the test which took place earlier this week, was successful.
Voatz said that a similar test took place back in the 2018 midterm elections in West Virginia. This was the first time that blockchain based voting had ever been used in a United States election.
“Voting is a great application of blockchain technology. What Voatz is doing to allow more registered voters to participate remotely in elections in a safe and secure way is important. It bodes well for more widespread adoption of the Voatz application. That’s one reason we’ve increased our investment in the company by leading this Series A round.” said Jonathon Johnson, who is the president of Medici Ventures.
The managing partner at Urban Innovation Fund, Julie Lein had this to say about the firm:
“Voatz has the potential to revolutionize the way we vote. By providing access through a mobile device, Voatz can dramatically increase citizen participation, and the company is committed to ensuring everyone votes safely and securely”
Voatz platform uses a mixture of Biometrics, blockchain and encryption to ensure that voting via the app is secure and auditable. Their platform has previously been used by political parties, universities and nonprofits.