Application of the Blockchain Technology in Annual General Meetings or Shareholders Assemblies

Abstract

Corporate governance in Ecuador, specifically regarding voting in general
meetings, faces different agency problems, as well as challenges related
to transparency, bureaucracy and lack
of systematization in corporate processes, which are major obstacles in
the current Ecuadorian corporate reality and its internal management.
Globally, during the last few years there has been a successful implementation of blockchain technology in General Shareholders' Meetings from its convocation to the elaboration of the minutes, which has allowed solving
several difficulties in the companies and in the decision-making processes within the companies. This article through a
conceptual, normative and doctrinal analysis will expose the functionality of
blockchain and the imperative need to
implement this technology in Ecuador. It will highlight its innovative features,
which have the potential to successfully address agency problems, improve
transparency, security, systematization and self-executability.