[June 25, 2018]

Luxoft's E-Voting Platform Enables First Consultative Vote Based on Blockchain in Switzerland

Luxoft Holding, Inc (NYSE:LXFT), a global IT service provider, partnered with the City of Zug and Lucerne University of Applied Sciences in Switzerland to create the first customizable blockchain-based e-voting system to be used by a major economy. To learn more about the solution, click here.

To drive the adoption of blockchain-based services in government, Luxoft today announces it is committing to open source this platform and is establishing a Blockchain for Government Alliance to promote blockchain use-cases in public institutions.

"Luxoft is proud to have an opportunity to work together with the city of Zug to explore various blockchain applications," said Vasily Suvorov, Chief Technology Officer at Luxoft. "As Europe's leading supporter of blockchain, Zug already accepts cryptocurrency for services, has digitized ID registrations built on the blockchain, and now we have helped them create and try the means to safely and securely move voting online."

Luxoft built the permissioned blockchain based solution e-Vote, including the platform itself, software and algorithms on Hyperledger Fabric. This was then integrated with Zug's Ethereum-based digital ID registration application, enabled by uPort, to allow residents to cast votes on the blockchain. The solution uses an innovative encryptin technology that on one hand anonymizes the votes and on the other hand allows tamper-proof tally and secure audit.

With help from the Lucerne University of Applied Sciences and Arts, AWS and n'cloud.swiss, the platform is deployed on three different data centers in the cloud: two in Switzerland and one in Ireland. By distributing the data into three different data centers, security and data loss risks are distributed geographically, making the system more robust. What's more, the platform can permanently delete voting data within an agreed time, in accordance with Swiss law.

"There is a concern with e-voting as it is a fundamental mechanism for direct democracy," said Suvorov. "As a result, we believe this technology cannot be owned by a single company. We will make the e-voting platform open source so people can understand what makes up the technology and how it works, ensuring full transparency. Looking ahead, our alliance will encourage more people to develop blockchain-based applications for Governments worldwide."

Luxoft, one of the founding members of the Crypto Valley Association, will partner with organizations working on government-based blockchain service solutions and invite them to jointly create Blockchain for Government Alliance, so all contributing parties can develop the source code of e-Vote further - creating a real-life customizable blockchain solutions organizations can reliably use globally every day.

About Luxoft

Luxoft (NYSE:LXFT) is a global IT service provider of innovative technology solutions that delivers measurable business outcomes to multinational companies. Its offerings encompass strategic consulting, custom software development services, and digital solution engineering. Luxoft enables companies to compete by leveraging its multi-industry expertise in the financial services, automotive, communications, and healthcare & life sciences sectors. Its managed delivery model is underpinned by a highly-educated workforce, allowing the Company to continuously innovate upwards on the technology stack to meet evolving digital challenges.

Luxoft has more than 12,900 staff across 42 cities in 21 countries within five continents, with its operating headquarters office in Zug, Switzerland. For more information, please visit www.luxoft.com.

Forward-Looking Statements

This news release of Luxoft Holding, Inc ("Luxoft") contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, and Section 21E of the Securities Exchange Act of 1934. These forward-looking statements include information about possible or assumed future results of our business and financial condition, as well as the results of operations, liquidity, plans and objectives. In some cases, you can identify forward-looking statements by terminology such as "believe," "may," "estimate," "continue," "anticipate," "intend," "should," "plan," "expect," "predict," "potential," or the negative of these terms or other similar expressions. These statements are subject to, without limitation, the risk factors discussed under the heading "Risk Factors" in Luxoft's Annual Report on Form 20-F for the year ended March 31, 2017 and other documents filed with or furnished to the Securities and Exchange Commission by Luxoft. Except as required by law, Luxoft undertakes no obligation to publicly update any forward-looking statements for any reason after the date of this news release whether as a result of new information, future events or otherwise.

All trademarks are recognized and are the property of their respective companies.

View source version on businesswire.com: https://www.businesswire.com/news/home/20180625005668/en/

[ Back To TMCnet.com's Homepage ]