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October 3 2017

ICO Alert Report: Horizon State

ICO Alert Report: Horizon State

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What is Horizon State?

We’ve developed a blockchain-based decision making and voting platform with an unhackable digital ballot box — it has been in use since February. What makes this kind of result security possible is the casting of votes to a distributed ledger, ensuring that the results cannot be tampered with and that the tally can be trusted. For the first time in history, we have the opportunity to work toward legitimate eradication of electoral fraud and corrupt voting outcomes.
— Jamie Skella, Co-founder

Crowdsale Information
The crowdsale will begin at 9 a.m UTC on October 16, 2017 and end on October 30, 2017 . 600,000,000 Decision Tokens (HST) will be available for purchase and tokens will distributed shortly after the end of the crowdsale.

The amount of HST tokens received is broken down across a two week period incentivizing early contribution as follows:

— October 16: One Ether = 3,500 HST
 — October 17–23: One Ether = 3,250 HST
 — October 24–30: One Ether = 3,000 HST

ETH will be the sole type of contribution accepted to purchase HST tokens. The stated hard cap is 200,000 ETH with a total funding goal of $30 million. Visit the Horizon State website for more information and for the contribution address, which will be made available on October 14.

Token Distribution Information
There are a total of 1,000,000,000 HST tokens being created, with 600,000,000 available to participants during the crowdsale.

Tokens will be distributed to contributors within ten days after the crowdale is completed. Staff and advisor tokens will have vesting conditions spanning a two-year period.

Allocation
60%: Public crowdsale contributors
28%: Company reserves
8% Staff
2% Advisors
2% Bounties

Use of Crowdsale Proceeds
55%: Platform development
20%: Business operations
15%: Sales and marketing
5%: Legal and compliance
5%: Contingency

Team
Jamie Skella, Co-founder
Linkedin
Jamie was formerly the director of UX at Tatts Group and the Australian Football League. He devised and directed development of MiVote’s blockchain voting MVP. Jamie currently holds an advisory board role at Skrilla, a blockchain based esports wagering service.

Dan Crane, Co-founder
LinkedIn
Dan was formerly chief online officer at an Australian stock exchange. He is a cryptoasset researcher, investor and ICO advisor. Dan is the Founder of Ultim, a unique food production company.

Nimo Naamani, Co-founder
Linkedin
Nimo is formerly CTO at iPayroll. He is an entrepreneur and software developer with 20 years of experience building products. Nimo is a co-founder of Ultim where he worked with Dan.

Daniel Vertes, Co-founder
Linkedin
Daniel works with IPO engagement, accounting, and is a process optimization expert. He has 10 years experience in the role of CTO, with companies such as AMIRA International Ltd.

Social Media
Blog:​ https://medium.com/horizonstate
Twitter:​ ​https://twitter.com/horizonstate
Facebook: https://www.facebook.com/HorizonState/
Telegram:​ ​https://t.me/horizonstate
Reddit:​ https://www.reddit.com/r/HorizonState/​
YouTube: https://www.youtube.com/channel/UCnpuPVNY6RkNTaCNq6odOxA

Q&A

ICO Alert: How does the Decision Token (HST) function within the platform and why is it needed?

Jamie Skella, Co-Founder: The HST services multiple purposes within our platform ecosystem. First and foremost, it is the economic unit that pays the fees in respect to casting votes to a public blockchain. We have additional use cases in development, the first being the utilization of HST as a financial vehicle for campaign fundraising. The second is far more profound, which is a way to make all constituents economic agents within our ecosystem, without needing to buy or trade our token on the free market. Instead, a state or a company can acquire extra HST, and use it as a way to incentive the consumption of information within their decision making system. Imagine if you could not only make our democratic outcomes more efficient and more secure, but improve the quality of of those outcomes, by remuneration people to become appropriately informed about the issues they’re voting on.

ICO Alert: A public blockchain ledger and democratic voting system seem to be a match made in heaven. Are there any possible drawbacks you see that may keep the platform from mass adoption?

Horizon State: The short answer, I’m pleased to say, is no. The way our system is established is so that end users never have to think about wallets, or crypto. I have said for a long time that blockchain will only go mainstream when consumers don’t even have to understand that their activity is on the blockchain, and our system delivers that. Just like most people don’t think twice about Linux or TCP/IP, despite their fundamental underpinning of online activity, our system delivers the benefits of blockchain technology without needing to have end users understand it.

ICO Alert: The MVP Project was developed and released over the past year as your first attempt at incorporating a distributed ledger voting system into a public environment. What were the results of the project?

Horizon State: MiVote has now run five nationally inclusive votes using our technology in Australia. Of course, this doesn’t mean the whole nation voted, but rather they were able to. We’ve appended many thousands of votes to the Ethereum public blockchain via MiVote, and the user experience has been a very positively received one. The interfaces developed for MiVote are specific to MiVote, however, how people interact with our technology will change from company to company, country to country.

ICO Alert: Low voter turnout in local and general elections is a very real issue plaguing the current political environment. Is Horizon State actively looking to resolve this issue?

Horizon State: Voter apathy is a significant issue around the world, of that there is no doubt. Inherently, our platform helps mitigate this problematic reality by introducing efficiencies that have never existed before. Despite the advent of the Internet, voting online has not be a tenable opportunity, due to the insecurity of vote results. With blockchain, we can enforce this security, and thus begin to let people vote from the comfort of their phones, from the computers in their pockets. This convenience is going to significantly increase the percentage of eligible voters who do actually vote over time.

ICO Alert: Can you take us through the actual process of how an individual will be able to vote within the Horizon State platform?

Horizon State: This will change for every customer. Some will use interfaces similar to MiVote, others will embed the core of our technology into their existing interfaces using our SDK and API. We do indeed expect to see some e-voting machines retrofitted to utilize our blockchain solution in centralized vote solicitation processes as well, despite it not being our preferred or recommended use of this technology. Finally, we’ll see independent developers craft all kinds of interesting ways to engage their clubs and communities in ways which we can’t even begin to anticipate quite yet — all deeply leveraging our ecosystem and driving demand for HST.

ICO Alert: Does the team have specific goals on the number of users they’d like to see adopt the network over the next year? Five years? What are both the optimistic and conservative figures?

Horizon State: We don’t have specific user targets, but we do have internal metrics for the number of votes and other kinds of activity requiring HST that we want to hit over the next five years. They are significant, they are ambitious, and we expect to revolutionize the world’s democratic processes while hitting them.

ICO Alert: The Ethereum network has occasionally suffered from slow transaction times. Is there any concern that this may affect the Horizon State platform as it aims for mainstream adoption?

Horizon State: Being entirely transparent: yes. Thankfully, our immediate commercial opportunities are with councils, global NGOs, enterprises, and states with small numbers of members, staff, or constituents — at least, small when compared to large nations. During 2018, we will see significant scaling solutions applied to the Ethereum public blockchain, such as a sharding, raiden, and perhaps even plasma, which will remedy our current limitations. It’s also worth noting that we are not wedding ourselves to Ethereum… while Ethereum is our best option right now, we’re under no illusion that it will be forever.

ICO Alert: In your roadmap you outline a number of projects you are looking to rollout over the next three years, including a crowdfunding platform module for possible political campaigns and AI that will look to collate, distribute, and ultimately personalize the information a constituent receives. Can you go into further detail about some of these projects?

Horizon State: While most of our possible partnerships in respect to the delivery and utilization of these roadmap items are under NDA, we can certainly give you a glimpse into the future, speaking broadly. There is a paradigm shift of constituent engagement within grasp. While our technology as it exists now improves efficiency, lowers cost, and maximizes security, there are opportunities to completely reconsider what the next 30 years might hold for how we make collaborative decisions about shared resources; about how we plan and orchestrate democratic processes on a global stage, and that is something we think very deeply about.

ICO Alert: As a non-Horizon State question we like to ask for unique predictions for the ICO and cryptocurrency space in the future. Where do you see both in the next 3–5 years?

Horizon State: I hope we see some meaningful and suitably unique regulation applied. We are dealing with brand new asset classes for brand new Internet; for a societal shift that most cannot even grasp the significance of. I do not agree with China’s ban, and I think America’s SEC ruling is a misstep. Of course, scams are prolific, and no good person wants to see others taken advantage of, so I am not in complete objection to these measures for the moment. In the near future, however, I hope that we can reach regulatory outcomes which protect people, but do not dampen the opportunity we have to democratize investment opportunity, and to democratize wealth generation opportunities. For too long, the barriers for entry to help fund brand new ideas have been exclusionary. Traditional investment mechanisms have served only to make the rich richer…I think it’s about time that changed, and I think ICOs can play a critical role in that change.

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View the Horizon State Website here.

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References
(1) Horizon State Website, Horizon State, (2017)
https://horizonstate.com/

(2) Horizon State Whitepaper, Horizon State, (2017)
https://horizonstate.com/horizon_state_white_paper.pdf

Topics: Blockchain, Cryptocurrency, ICO, Finance, Investing