Votem positions itself between the tech-savvy blockchain entrepreneurs who don’t understand the intricacies of running elections and the traditional election systems manufacturers who rely heavily on traditional voting methods. The approach is rooted in a deep understanding of both voter behavior and the demands of election officials and legislators.
The VAST Token is an EIP-20 (formerly ERC-20) compliant digital token issued by Votem Corp and is named after the four critical elements of a voting system (Verifiability, Accessibility, Security, Transparency). The VAST Token, akin to a perpetual software license, is designed to improve the efficacy of voting events for both private and public elections by allowing an individual or organization secure access to the CastIron platform and its features to successfully operate elections. The number of tokens required will be defined by the number of potential voters as well as the verifiability and security features needed. Once tokens are purchased, they can be used for any number of elections, but only for one election at a time. VAST Tokens will support a range of validation requirements and role-based functionality for different elections as not all elections require the same levels of technical complexity nor human validation as others.
The Tokens are dictated by the following
– Token Purchasers will buy VAST from the market.
– These VAST Tokens will be usable for as many elections as they choose; albeit a VAST Token cannot be used for multiple
– An Owner-Operator that runs an election every other year would purchase the number of Tokens they would need to run
a single election based on the number of estimated voters and features required.
– A Platform Partner would acquire the amount of Tokens needed per number of simultaneous elections (a factor of voters and complexity of features) per election they are supporting on behalf of others.
– Current market dynamics show a wide range in election prices. For simple private elections, price per cast vote can range from $0.20 – $0.40 (USD); for more complicated labor union votes, the range could span $3.50 – $15.00 (USD); for public elections, the price can reach even higher
1. CastIron Mobile Voting Platform (This is the application layer that provides the Election Management System (EMS) and related functionality to support online elections )
2. “Proof of Vote” Protocol ( This openly vetted protocol provides the detailed method for conducting end-to-end verifiable elections using distributed ledger technology )
3. VAST Token ( The Token provides role-based access to the CastIron software platform )
4. Blockchain ( The protocol and application run on a private blockchain framework, with public sidechains for additional verification, creating auditable vote records that can be validated in real time ).