The HST token acts as an access token for end users to vote on the platform. Clients who want to hold a vote need to buy HST to conduct the vote. The HST will be bought from the open market (this can be done through the Horizon State platform with fiat, so no need for the clients to touch any crypto markets as some may be averse to that). One important thing to note is that it is not 1 hst = 1 vote. Because the token is divisible by 18 decimals this allows the amount of hst needed per vote to vary depending on how many tokens are able to be bought at the current market price with the quoted amount. This means that the price of the token is irrelevant to the client and does not affect them in any way. They get a quote in fiat at the beginning and pay that. After the tokens are used for the vote, up to 8% of the used tokens will be burned, this will slowly reduce the number of tokens circulating. 5% of the used tokens will be recycled into charities. They will initially be handpicked charities that align with the company values: equality, democratisation and justice. Looking forward however, these tokens will be fed into a charitable decentralised organisation (DAO) which would allow the community to be directly involved in the decision of where these tokens will be spent. 5% of HST used in the non-government, public services domain (e.g. city council elections) will be recycled back to the community voting.
If, for example, a city which wished to organize a vote had leftover tokens and thus wanted to sell the leftover tokens into the market it would be necessary to prevent the possibility of massive sells. Therefore, the platform exchange will restrict the rate at which those tokens are allowed to flow back to the market. This will help shield token holders from large dumps which could depreciate the token value.
HST does not do the ID verification, and with new protocols being developed for block-chain (Civic) which may go some way to solving this issue and hopefully one of these protocols in conjunction with the HS platform The issue is this: If HST has identities, and "we" cast the vote - there is a huge potential of leak - as in: identifying what a specific person voted. The entire premise of HST is that we do not hold identities. At all. Additionally - there is no way for HS to know who is eligible to vote - this information is, and must remain, external to the platform. The way we solve for this is by receiving an anonymous electoral roll we receive a set of hashes - a lot like wallet addresses - which represent voters. The hashes are loaded to HS, and hashed again to create the 'user-id' so to speak. The vote from this user-id can then be cast safely because no party holds the entire chain: govt has identity and 1st Hash HS has 1st Hash and 2nd Hash. Block-chain has 2nd Hash and Vote.
We have secured a new strategic partnership with Nahdlatul Ulama the world’s largest independent socio-religious organization. Horizon State technology will empower over 96 million NU members with a focus on community enablement and improved access to services.
One of the most underrated and socially empowering projects. Recent deal in Indonesia bringing services to 96 million people, coverage by Reuters: https://www.reuters.com/article/us-indonesia-blockchain/indonesia-looks-to-blockchain-to-fix-its-dodgy-data-challenges-idUSKBN1I503R
Here is a great, simple info-graphic explaining HST: https://i.redd.it/d0a4pxb144701.png
Token Mechanics: https://medium.com/horizonstate/horizon-state-token-mechanics-104af1dd26bd
Website: https://horizonstate.com/
Youtube: https://www.youtube.com/channel/UCnpuPVNY6RkNTaCNq6odOxA
Telegram: https://t.me/horizonstate