ACT is a decentralized autonomous organisation addressing social accountability by aggregating micro payments from citizens to fund grass roots proposals that drive change.
Smart contract blockchain
Fraser Brown - CEO
Ian Cunningham - Project Manager
Ganesh Yung - Managing Director, Draglet, Lead Architect
Johannes Angermeier, Draglet - Lead Developer
User ReviewWrite review 2 reviews
ACT — DAO that aggregates micro payments from citizens to fund grassroots proposals that drive change.
If they call it as a crowd funding, then it becomes a great proposition as this makes the process of raising capital for smaller projects quite easy and the curation format proposed on their platform involving bots and community makes the whole process a community driven crowd funding process which I think at the end of the day their platform is. I am confused why they call their pre-sale as donation as their company is Daoact Limited and the whole legal status of Daoact Foundation is still questionable. At the end of the day for me more than their vision or even their target audience, their App has more value as once its live it will be a great driver to get funded for small projects with a low barrier to entry for both people who want to fund and people who want to get funded though how the ACT’s community curation plays out is still a big question for me.
ACT is a decentralized autonomous organization (or DAO)
that aggregates micro-payments from private constituents to fund grassroots social change initiatives. DAOs harness blockchain technology to collect and share digital holdings among group members. While the technology that powers a decentralized autonomous organization is cutting-edge, it’s easy for end-users to get started with the ACT platform.
There are many ICOs that are promising DAO model to do social good and promoting social mobilization. But my biggest issue with ACT is their model of purchasing votes. Also, their lack of any identity mechanism to determine if vested interest do not misuse their platform. Though 10 cents to 1 dollar will be a very small amount to pay for funding a social cause in west but in developing countries 1$ can be some one’s day’s salary and yet such communities should have a right to vote. Also, asking users to top-up to vote may seem in some cases a nonstarter. Also, typical the funding targets that they have set for in their example campaigns are few hundred thousand which though practical limits to many bigger community needs that unfortunately may not be enough.
You need to login to create review.