Home Crypto Reports Full Reports - VIP Only Ironwood’s Hidden Gem #478

Ironwood’s Hidden Gem #478

May 28, 2018

Blockchain: Ethereum
Classification: ERC-20 Token
Function: Transparent Voting Platform
Project status: Working Product
Circulating supply: 32,025,998 HST
Total supply: 48,240,070 HST
Market cap: $20,997,173 USD
Exchanges: KuCoin, EtherDelta, Cryptopia, Livecoin
Consensus algorithm: Proof of Work
Public ICO start date: 2017.10.16
Public ICO finish date: 2017.10.30

Whitepaper
Coinmarketcap

As of: 2018.5.28

Summary

Horizon State is introducing a unique use for blockchain. They have successfully created a working product that is already being used, with wide-ranging plans and potential for future developments in 2018. With the cost savings, added security, and transparency that a blockchain offers voting and decision making, this platform has tremendous potential for mainstream adoption. Horizon State recently visited the UN in New York City and is working on other partnerships all over the world, including the German IT giant SAP. The tokens that are purchased by the market will always have a buyer, seeing how any organization wanting to utilize Horizon State will need these tokens.

Overview

Horizon State is a token-based blockchain voting and decision-making platform that delivers unprecedented trust through the integrity and post-unforgeable attributes of distributed ledger technology. Horizon State believes that the distributed ledger system, or blockchain, can improve voter turnout and participation within voting, while making it more efficient and secure. Through the use of their platform, it will provide voters with full transparency with how each vote is handled, to ensure it was accurately cast and counted.

Decentralized applications, or “dapps,” will be built on top of the Horizon State platform to provide additional types of services required by their customers and users. Some examples of these dapps include: content delivery by population slices, smart contracts for unique voting mechanisms, statistical modeling tools, smart surveys, smart voting agents, and prediction tools.

Eight percent of HST used will be removed from the market over time, thus reducing the circulating value; 5% of HST used will be recycled into charitable purposes, while 5% percent of HST used in the non-government, public services domain (e.g. city council elections) will be recycled back into the community voting pool. The remainder of the tokens will be liquidated on the free market. As tokens are used and come in, they will be entered into a pool to be returned to the market at a rate of 20% per month. For example, if 100,000 tokens are used in a specific month, 20,000 of those tokens will be reintroduced and sold into the market the following month.

Currently, Horizon State is actively working on creating more partnerships with mainstream, global organizations and institutions, now in talks with the likes of SAP and the UN. Horizon State offers the opportunity to define the characteristics of the constituency on a campaign-by-campaign basis. Horizon State has also secured a partnership with MiVote, a membership-based voting system in Australia, to help implement their technology. MiVote, with the help of HST, was able to remove the voter profile from the vote, while also ensuring that each person is only able to cast one vote.

Technology

Horizon State is built on the Ethereum network. Customers wanting to use this blockchain will purchase tokens from the market and use those tokens to “purchase” their desired number of votes from Horizon State. The customer creates a smart contract with the list of all eligible voters within it and runs a hash function to create unique hashes. This will be called “Hash1.” Hash1 is then sent to Horizon State, and Horizon State adds salt (an add-on piece of text to the original) to the hash, and runs another hash function to create a second set of hashes — this will be called “Hash2.” Hash2 is then sent to the eligible voters to be used for voting.

Currently, Horizon State has partnered with MiVote to enable their customers’ users to vote. Votes are cast via MiVote to the Ethereum blockchain, and are sent with a relationship to a campaign ID, but with no identifiable relationship to the voter. Fees are paid for the processing and verification of votes, which take the form of transactions.

Roadmap

Oct. 2017 — HST token to be listed on exchanges for free market trade.

Q4 2017 — Subsidiaries established at strategic international locations, including the USA and Australia, as well as international sales team expansions underway.

Q2 2018 — SDK and API released for customer use within their existing Web and native application interfaces.

Q1 2019 — Release of suite of voting apps, bots, and extensions for key messaging and communications tools. The suite will include integrations to products such as
Yammer and Slack.

Q3 2019 — Release of a crowdfunding platform module which enables users within a customer system (such as political independents) to raise capital to achieve goals, such as funding their campaigns, for instance.

Q3 2020 — AI systems for information gathering and research analysis released. This technology intends to automatically collate, cross-reference, and distribute peer-reviewed content to constituents. Beyond collation, analysis and delivery, the intent of this AI is to assist in helping constituents consume the information that will be of most value to their decision-making process, in formats that best suit them.

The Team

Executive Team

Oren Alazraki — Twenty years of leadership and executive experience in the IT sector, including a number of General Management roles, most recently at Datacom, a company with over 5,600 people and revenues of over $1.2 billion.

Jamie Skella —Co-Founder at Horizon State
Former Director of UX at Tatts Group and the Australian Football League. Jamie also devised and directed the development of MiVote’s blockchain voting MVP, Skrilla (Advisor).

Nimo Naamani — Former Chief Technology Officer at iPayroll.
Nimo is an entrepreneur and software developer with over 20 years of experience in building products.

Dan Crane — Former Chief Online Officer at top 100 Australian stock exchange, in addition to being a cryptoasset researcher, investor, and ICO advisor.

ICO

Horizon State issued an ERC20 token called a “Decision Token,” HST, on October 16th, 2017. Tokens will be used by organizations and institutions to pay for the use of the product.

In the future, as the product suite of Horizon State is enhanced, additional token use cases will be added. The ICO ended on October 30th, 2017, garnering over $893,520 in investments.

Conclusion

With the realization of the immutability of blockchains, it is not only useful as a Distributed Ledger Technology (DLT) for fintech, but it is also extremely good for Decentralized Autonomous Organizations (a DOA). HST focuses on a subset of DAO, mainly as a voting and decision-making platform. This is not a new idea (e.g. Clearpoll). However, Horizon State aims to be the go-to platform for any large organization or government body, and not limiting themselves within the blockchain ecosystem.

With that in mind, and this market being rather large and untapped, we can only speculate on how receptive governments and corporations will be towards it. However, with the right partnerships and a strong push towards government adoption, Horizon State could stand a chance to be the golden standard as a public immutable voting platform.

The project, at its current market cap, has a tremendous room for growth if it sees government and corporate adoption. Any investors looking to buy this token should be able to realize a short-term ROI as it hits the larger exchanges. Long-term holders should be confident in larger returns as the project reaches its intended market. Investors looking for a long position should be watching for any new partnerships or business deals Horizon State makes, as it is sure to create demand for its token.