As the use of the blockchain continues to diversify, more and more people are starting to see its potential within the world of activism and fundraising. Unlike regular charities where people cannot see where their funds are being utilized, blockchain based ventures will allow contributors to see where exactly their money has been spent.
About ACT CE7
ACT has been described online as being a fully decentralized “funding platform” that allows for activists to raise money for various social causes. In a more technical sense, we can see that ACT allows for the aggregation of “micro payments” from people all across the globe, thereby allowing them to make a difference at the “grass root” level.
Some of the key uses of this platform include:
Through the use of a decentralised “proposal review and approval process”, this platform is able to help in procuration of funds in the most transparent manner possible.
In order to help promote the use of this system, curators are allowed to gain monetary incentives (in the form of tokens) for putting forward quality ideas.
All of the proposals that are submitted on the ACT platform are put into action only after they have been cleared via the use of a “citizens vote”.
More About the Platform
(i) Native Currency Use:
The ACT Curation Engine will make use of “CE7” Tokens that will be used to reward platform users. At this point, it should also be mentioned that ”15% of all raised revenue” will be used to pay curators.
(ii) Revenue Generation:
In terms of how ACT raises funds, we can see that all of the revenue is “generated from citizens who purchase votes” to take part in the vetting processes within the system.
(iii) Well Organised:
Once a proposal goes through the system, it is then up to the community to agree upon the amount of funding required for it (via a voting process).
(iv) Smart Contracts:
All of the payments and monetary transfers taking place within the system are done so via the triggering of “smart contracts”.
According to the company whitepaper, ACT has the ability to operate at any scale (depending upon the requirements set forth by the market).
ACT CE7 ICO Token Details
As mentioned previously, ACT will make use of a native token to power all of the transactions taking place within its ecosystem. The currency will be called CE7, and there will be a total of 10 million coins that will be created.
The “allocation of tokens” will be done as follows:
- 80% will be made available for use via the various Donation Campaigns
- 8% will be used by contributors.
- 5% will be used by the core development team.
- The remaining 7% will be used for bounties and other similar purposes.
At this point, it should also be mentioned that there will be a currency pool that will be used exclusively for the delivery of incentives and rewards.
For any further details regarding this platform, users can get in touch with company officials via the email address provided on the homepage.