Hello Everyone,
This is Satish from India.
Today I would like to give a short review on Act ICO.
ACT is a really a good initiative in cryptocurrency for social good.
Introduction
In today's world Government is the central authority to take decisions for the benefit of Citizens but due to political ambitions by the political people they are polluting the entire economy by taking wrong decisions and that is deeply effecting on Citizens. Even though govt promised to fullfil certain things still it is a question for Citizens whether the promised event will be completed in time or not. Even what the Citizens are desired problem to be solved that may not be solved by Govt.
For Ex:
- Citizens in Wales fighting open cast coalmining because this will kill the people near to that due to huge pollutions will come from Coalmining. They have fought with govt in court with National campaigners but finding resources to sustain is really difficult for a real change.
These problems cannot be solved by a single person, So a collective action from Citizens will impact hugely on state govt to take actions for the benefit of Citizens. And increasingly the societies around the world supporting for safety of Citizens to come together and speak out is being diminished, In the world many people are concerned about our future on earth. To change the bad decisions taken by govt or others for interest of our Economy, some of the initiatives like Avaaz which boasts around 44 million members from 194 countries and Change.org is another which have 178 million members on board for people taking action. But these companies are working with a profit motive and Change.org earned around 15 million dollars when it have 20 million members. And at some point of time the top people in management may be greed to take all the money and can stop the company. And in every case we are seeing that central Authority is the main problem for taking actions in right direction and having chances of looting money. This all should be changed in every industry through decentralisation.
Now ACT want to counterpart by using Blockchain tech for decentralisation which will completely eliminates the need of central Authority and want to support to get real value for the citizens from the governmants and other bad actors.
ACT - a "decentralized autonomous organization" with an automated organization Governance and decision-making - must be seen as a truly global development project.
"THROUGH AUTOMATION OF ORGANIZATIONAL GOVERNANCE AND DECISION MAKING IT SHOULD BE POSSIBLE TO TRANSFORM THE POWER IMBALANCE BETWEEN STATE AND CITIZEN ACTION, AND IMPROVE SOCIAL ACCOUNTABILITY"
ACT supports the “enabling elements” of citizen engagement — conditions that affect the ability of state and citizens to engage in systems of social accountability — including the freedom of citizens to associate, their ability to mobilize financial resources to fulfil the objectives of their coordinated actions and/or organizations, their ability to formulate, articulate and convey opinion, their access to information (necessary for their ability to exercise voice, engage in negotiation and gain access to resources), and, the existence of spaces and rules of engagement for negotiation and public debate.
ACT seeks to boost the enabling elements described above and associated conditions in support of citizen action. The societal problem being addressed is social accountability.
Social Accountability is the strength and ability of citizens to hold the state To be more responsible and make them responsive to their needs.
ACT’s objective is to address the imbalance of power between state action and citizen action. Citizen engagement can be defined as the interplay of five constitutive elements: state action, citizen action, information, citizen-state interface, civic mobilization.
ACT want to introduce tokens in its platform called ACT Token.
ACT platform work as mentioned below,
ACT turns much conventional wisdom on its head. Members on the ACT decentralised platform pay for votes and 15% of that revenue is divided among the people who rank and curate proposals from people or organisations trying to drive change. Our model is designed to ensure that only high-quality, legal, and appropriate proposals are promoted. More than 80% of the remaining revenue is all paid to causes.
If ACT had 44 million members as Avaaz does and each bought just $20 of votes per year, $13.2 million would be paid to curators and holders of the ACTION token in that year (The ACT cryptocurrency is the unit of account of ACTION, which is a vesting reward token). If it had 178 million users as Change.org has, and each spent, on average, just $10 per year on votes, over a quarter billion dollars would be distributed amongst ACTION token holders who curate content, and over a billion dollars would go to fund causes that protect our future on earth.
ACT UI in Mobile Platform
Example for real use cases with ACT
Maria Dzuba from Minsk, Belarus to help explain the what and why of ACT. In summary, Maria’s 8 year old daughter Lera is disabled and local government refused to repair the elevator in her building for budget reasons. Belarusian law allows for a petition to be raised to create a “public letter” which can be considered. Maria asks the ACT community for $200 to fund her campaign.
A cameraman could have his/her equipment confiscated and he/she could be detained by the police. In this instance, the person urgently needs the best legal support. ACT could support such an intervention, and even fund replacement equipment!
The team has high experience for more than 20 years and specially about Frason Brown, He is really want to bring change for social good and this can be observed by seeing his profile
The ACT crowdsale has three phases:
Pre-ICO: 2pm CET 18th July 2017–1st August 2017
Pre-release access: Close of pre-ICO — 18th November 2017.
ICO: 18th November 2017–18th January 2018.
Pre-ICO bonuses:
Platinum — 10x for first $250k
Gold — 5x for next $250k
Silver — 2.5x after $500k
Example: Donator “Sean” donates $100,000 on the first day of the pre-ICO (phase 1). Sean’s allocation of ACT Token at the ICO is therefore 10x his donation i.e. $1,000,000 worth of ACT Token.
Pre-ICO conditions
Please note: Platinum and Gold bonuses reduce by half (to 5x and 2.5x respectively) after the half way point of the pre-ICO (25th July at 17:00 CEST)
ICO details:
A total of 10,000,000,000 (10 billion) will be generated
To contribute in crowdsale visit https://www.daoact.org/#
To see the announcement in bitcointalk visit https://bitcointalk.org/index.php?topic=1985190.0
Bitcointalk Profile link : https://bitcointalk.org/index.php?action=profile
Bitcointalk Profile name : Satish147
My ETH Add : 0xDF90a56FeDE1dD8c2F89060dc8d649CAe1A026fC