Votem ICO details
Start Date: 2018-7-1
End date: 2018-9-30
- Category: Infrastructure, Other, Platform
- Token: VAST
- Platform: Ethereum
- Type: ERC20
- Initial price: 1 VAST = 0.50 USD
- Bonus: Tiered: - $10k - $24.9k -- 10% Discount with 1 Year Vesting - $25k - $99.9k -- 20% Discount with 2 Year Vesting - $100k + -- 35% Discount with 3 Year Vesting Any discount will be applied to the Conversion Price at the Platform Launch in connection with the conversion of the SAFT into the Tokens. The term “vesting” means the lapse of a use restrictions on the Tokens. 100% of the Tokens will be distributed to the Investor on the Distribution Event, subject to such use restriction. 20% of the Tokens shall vest immediately at the Distribution Event and not be subject to any use restriction. The remaining 80% shall be subject to the use restriction and vest in equal installments such that they will be fully vested at the end of the vesting period following the Distribution Event.
- Accepting: ETH
- Hard cap: 50000000
Votem – Voting for a mobile world
Votem enables citizens, organizations, and governments around the world to easily manage or participate in online voting with the highest possible level of verifiability, accessibility, security, and transparency. Votem’s VAST Token and related Platform improves the efficacy of voting by ensuring the integrity of the voting process, the confidentiality of the voters’ choices, and validity of the results – for both private and public-sector elections.
Major elections are complex, heavily regulated, and consequential. Technology alone – even blockchain, which in many respects represents a perfect use-case for voting – does not solve all of these challenges. If it did, online voting would be ubiquitous today. Nevertheless, voting represents a $10 billion market opportunity worldwide. Votem believes that our track record, a combination of operational proficiency in running various types of elections on mobile and blockchain technology, positions us to capture significant value in this market and build out a robust supporting ecosystem.
Why Votem? Votem is an established company with existing products, revenue generating customers, and a proven track record. We have successfully run multiple U.S. federal elections (2016 primary, general, and special elections) and tallied over 8,000,000 online votes using blockchain. Votem was seed-funded with nearly $1mm by our Founder & CEO and then was further vetted through an oversubscribed Series A capital raise from professional investors. Our team is comprised of seasoned entrepreneurs, tenured academics, and experienced election experts with the business leadership, domain expertise, and technical prowess to execute on our plans.
Our mobile voting platform, CastIron™, provides the application functionality for running elections. It combines advanced mobile capabilities and a private blockchain framework, with public sidechains for additional verification, using voter anonymizing technological schemas and mathematical proofs of verifiability, all enabled by VAST Tokens and built on top of our “Proof of Vote®” End-to-End Verifiable (E2E-VIV) Voting Protocol which aims to provide irrefutable evidence of the result of a valid vote that was cast and tallied as intended and substantiated by user and third party validation for the benefit of both the voter and the elections administrative body and their interested parties.
The VAST Token is an EIP-20 compliant digital token issued by Votem Corp. and is named after the four critical elements of a voting system (Verifiability, Accessibility, Security, Transparency). These tokens will allow an individual or organization secure access to the CastIron platform and its features to successfully operate elections and ancillary activities.
VAST Token Standard Functionality
Election setup is often the most logistically complicated process of an election. Election Management Bodies (EMBs) can use CastIron’s election management system to easily establish election definitions with all of the supporting functionality for ballot design and logic (majority wins, ranked choice etc.).
Voters register to participate in the election. The type of registration process is determined by the EMB and can be automatic or manual.
Voters can mark their ballots on the device of their choosing. Ballots will be equipped with all the necessary accessibility features to enable all voters, regardless of disability or access to a polling place, to vote.
Ballot Casting + Storage
A Cast Vote Record is created from the ballot and is securely transmitted and stored on the blockchain voting server which serves as an immutable digital audit trail and record of cast votes.
Votes are counted according to the requirements for the election. In US elections, they are sent to a separate server for counting, while in other elections anyone could tabulate results.
The results are passed to a number of reporting sites for public release and certification.
EMB or independent third-party auditors can administer Risk Limiting Audits, system audits, and any other regulatory mandated assessment for the election. The blockchain is an immutable record of cast-votes over the course of the election and serves as an audit trail that is accessible to authorized EMBs and Election Validators for certification of results.
Voters are authenticated against the election’s legal requirements in order to participate. Biometric, eID, and external authentications (such as against voter registration rolls or the Dept. of Motor Vehicles) are all supported.
The correct ballot is delivered to the voter based on the thousands of potential combinations of national, state, regional, district, county, and city contests.
The ballot is encrypted before submission, preventing parties from accessing and viewing a voter’s choices without authorization.
External Vote Validation
External validators, like observation organizations and audit firms, may certify the validity of the ballots (i.e. come from valid voter, location, etc.) before they are stored on the blockchain.
The voter matches a secure QR-code receipt of their vote to the QR-code representation of the recorded ballot, verifying their vote was recorded as cast. The QR receipt that the voter receives will include no useful information about the voter’s selections, only that the ballot was stored, preventing cases of vote-selling or voter-coercion.
Cast Vote Records are mixed to ensure that it is impossible to trace a voter’s selections back to the individual voter. A mathematical proof of mixing is made available.
Votes can only be decrypted by a preset number of EMB members to prevent dishonest members from decrypting ballots. Once the votes have been properly decrypted, a mathematical proof of decryption is offered to auditors and voters.