The development of blockchain technology in modern business and finance is of great importance. The study delves into the blockchain-based shareholder voting system and the role of blockchain on corporate governance. On this basis, relevant research hypotheses are formulated. After completing the definition of research variables, the research model is constructed to empirically investigate the impact of blockchain-based shareholder voting system on corporate governance. The research hypotheses are tested through regression analysis and the robustness test is utilized to ensure the reliability of the research findings. The minimum value of blockchain-based shareholder voting and corporate governance level are both 0, the maximum value is 4.954, 0.624, and the average value is 0.821, 0.089, respectively. There is variability in shareholder voting and corporate governance level across companies. Before and after the control variables, the coefficients of blockchain-based shareholder voting system are 0.225 and 0.247 respectively, and both are significantly positive at 1% level. Blockchain-based shareholder voting system can improve corporate governance.