Announcing the VOTE DAC (SNAPSHOT DATE: 8-21-14)

In democratic societies throughout the world, elections are plagued with accusations of illegitimacy stemming from all sorts of issues, such as flawed registration processes, inconsistent voter ID laws, cases of widespread voter fraud, non-sensible restrictions, vulnerable voting machine technology, and a general lack of transparency.

We must acknowledge that the key issue that needs to be solved is the lack of transparency in government run elections, in the Unites States and across the globe. If we can properly address this singular issue, we’d essentially solve all the other problems that plague the industry and would have the opportunity to begin hosting accurate elections that result in an agreeable consensus.

With the 2016 U.S. Presidential and Congressional Elections right around the corner, it seems that the time has finally come to leverage the latest technology to develop a voting system that permits the hosting of secure and transparent elections with agreeable outcomes that makes efficient use of taxpayer money.

In today’s world, it is finally possible to host verified and transparent elections in an end-to-end voting system encoded within a Decentralized Autonomous Company (DAC). A voting DAC is the key to solving the transparency problem current electronic voting systems face today, as it provides a valuable service that allows people to vote in elections that are secure, transparent, and free from corruption.

In the near future, Follow My Vote will releasing the first voting DAC in history using the BitShares Toolkit for building DACs, which will be called the VOTE DAC. Development will happen in stages, with the first stage being the development of a proto-DAC, as it will be released with limited features. We will refer to the partial ownership of the VOTE DAC as a VOTE or VOTES, similar to how one would refer to owning shares of a traditional company. Launching initially as a proto-DAC will allow for the trading of VOTES while the remaining features are under development.

The VOTE allocation of Follow My Vote’s VOTE DAC will include 10 billion VOTES. Half (50%) of the VOTES (5 billion to be exact) will be allocated over time to delegates that will be responsible for maintaining the blockchain throughout the life of the company, starting with 50% allocated within the first year of operations and 50% of the remaining VOTES thereafter, year over year. The other 5 billion VOTES will be allocated up front to, among other things, cover the cost of the development of the DAC itself and marketing necessary to acquire its initial user base. The breakdown of the initial VOTE allocation will be as follows:

4.2.2) BitShares PTS: 1.5 billion VOTES

BitShares PTS, is a simple minable crypto-currency (similar to Bitcoin) that was created to allow people to advertise their interest in receiving free token samples in future DACs.  Per the BitShares social consensus, 30% of VOTES that are initially allocated will be distributed to those who have supported the BitShares industry by owning its BitShares PTS tokens.

Anybody who owns BitShares PTS on that snapshot date is given a proportional stake in the new DAC. Thus, those interested in supporting Follow My Vote should invest in BitShares PTS prior to the VOTE DAC snapshot date.

4.2.3) BitShares AGS: 1.5 billion VOTES

BitShares AGS is similar to BitShares PTS in that both were ways of volunteering to receive free promotional samples from the developers of new DACs. The difference is that BitShares AGS can no longer be bought or sold, as the owners are those whom contributed into an industry development fund while the industry was still in its infancy. Per the social consensus, 30% of VOTES that are initially allocated will be distributed to BitShares AGS owners in proportion to their ownership of AGS.

4.2.4) Follow My Vote: 1.5 billion VOTES

Follow My Vote will be spending a considerable amount of resources to develop the VOTE DAC and acquire new account holders upon its release. Thus, 30% of VOTES that are initially allocated will be distributed to Follow My Vote to cover these costs.

4.2.5) NuSpark: 50 million VOTES

NuSpark is a startup incubator in Blacksburg, VA, that has supported Follow My Vote in since their early stages of development by providing them with dedicated office space to conduct business operations. NuSpark will continue to support Follow My Vote by further educating the Blacksburg community and surrounding areas about cryptography and blockchain technology in an effort to encourage the use of the VOTE DAC. For their continued support, NuSpark will receive 1% of the initial allocation of VOTES.

4.2.6) Virginia Tech: 50 million VOTES

Virginia Tech is also located in Blacksburg, VA. Similar to NuSpark, Virginia Tech will be supporting Follow My Vote by further educating the Blacksburg community and surrounding areas (in addition to the Virginia Tech faculty and student body) about cryptography and blockchain technology in an effort to encourage the use of the VOTE DAC. For their support, Virginia Tech will receive 1% of the initial allocation of VOTES.

4.2.7) New River Valley: 400 million VOTES

Follow My Vote will be promoting the emergence of the cryptography and blockchain technology to the U.S. citizens living in New River Valley. Residents of Blacksburg, Christiansburg, and Roanoke, VA, will have an opportunity to claim VOTES during a series of promotions to encourage the use of the VOTE DAC. A total of 8% of VOTES that are initially allocated will be distributed in this way.

The official snapshot date of the VOTE DAC is August 21, 2014. Therefore, by holding BitShares PTS on the VOTE DAC snapshot date, you have an opportunity to get in on the ground floor and own an initial stake in the VOTE DAC.

The VOTE DAC is a game-changing technology that has the potential to become the voting platform of the future!

Seize this moment. The time is now.

Check Out Follow My Vote’s Whitepaper For More Info!

I don't get how me holding it is going to benefit me. Anybody wanting to set up a vote can just clone it and use it, why the need for the existing chain?

Besides that, its a great project and I can see it becoming very useful in the future.