Nearly eight in ten of respondents in Zug welcome e-voting secured by blockchain technology

Zug, SWITZERLAND -- November 30, 2018 -- Most residents of Zug, Switzerland, approve of e-voting secured by blockchain technology as it makes voting quicker and easier than traditional ballots, according to those who participated in the country’s first ever blockchain-based e-vote last summer.

The City of Zug, Hochschule Luzern’s Blockchain Lab, and Luxoft, today jointly release a report evaluating the results of the e-vote in Zug. The report highlights the benefits of decentralized voting, outlines the underlying architecture of the blockchain-based system and analyses the experience of residents who participated in the vote.

More than 220 people in Zug have a registered digital ID and were eligible to vote on the platform, and nearly 100 responded to the survey carried out by the City, following the blockchain-based municipal vote on June 25 and July 1. [1]

The findings reveal that most residents welcome the prospect of more blockchain-based e-votes; 79% welcome the use of e-voting in the city, with just 2% opposed to it. Moreover, 52% agree that e-voting should be introduced to make voting easier and quicker than filling out a ballot. Despite the high level of approval amongst residents, some remain skeptical about the security of e-voting. While 21% believe blockchain technology makes electronic voting more secure, 16% have security concerns.

The voters praised each element of the voting solution built by Luxoft, from verification to the use of private keys. Many voters noted that not enough had been done to raise awareness of the voting trial to boost participation. This is reflected in the fact that of the residents that took part, 75% already owned a digital ID and only 25% needed to acquire a digital ID to vote. Residents therefore accept that the option to vote by mail in addition to e-voting is still needed today until further progress is made.

Zug’s city president, Dolfi Müller, welcomed the feedback and commented, "It is nice to see that, despite some minor difficulties, many people in Zug are happy to live in such an innovative community and look forward to further research and development in the field of digital ID and blockchain technology."

“It’s clear from this report that voters in Switzerland today recognize the value in using a blockchain-based e-voting system,” said Vasily Suvorov, Luxoft's Chief Technology Officer. “While the technology that underlies this system is extremely complex, residents agreed that the platform was simple and practical to use. This is a platform that makes it easy for people to interact with blockchain on an everyday basis.”

Dr. Alex Denzler, head of Hochschule Luzern’s Blockchain Lab concluded, “There is still more progress to be made before we see such systems implemented globally. All the partners integral to expand the blockchain-based e-voting system continue to collaborate so it can become an established, reliable solution for voters everywhere.”

[1] There are 220 residents in Zug with digital identities. 72 took part in the vote between June 25 and July 1, and 95 responded to the city’s survey after the vote to provide feedback on e-voting secured by blockchain technology and the voting process.


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 22 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, 2018 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.


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