Date of introduction: November 12th 2017
Rank on Coinmarketcap: 275
Current price: $1.00
Current circulating supply: 32,025,998 HST
Total maximum supply: 48,240,070 HST
Type of token: ERC-20
Official Website: https://horizonstate.com
What is HST
The Australian fintech company Horizon State created and developed the Decision Token (HST). Horizon State is a B2B focused tech company and aims to create a platform / ecosystem on which clients can organize general elections, postal votes, union elections, shareholders meetings, polls etc. The token used to vote on this platform is the Decision Token (HST).
The strong point about using the HST token is that it runs on a decentralized ledger and using an unhackable voting ballot, ensuring that the voting process is secure, transparent, and anonymous. While allowing people to view the voting process in real-time.
How it works
A company / government / client purchases an X amount of HST tokens according to the estimated amount of people that vote. These tokens are then distributed to the eligible voters (e.g. community members / inhabitants of a country), which they can then use to cast their vote using the HST online platform / dApp.
Furthermore, if a government paid for the HST token and estimated a 90% voting response, but the end result is only 80%, they are left with remaining unused tokens.
These tokens can be held by the government for a later use or can be sold back to the open market. However, this buy back process is only allowed in stages and not all at once. This is to protect the price of HST by preventing a massive sell off.
A key benefit in using HST is the reduction in the overall voting costs. Currently, the average costs per vote are between $7 – $20 per election, whereas the costs per vote using the HST platform is only $0.50.
Example how HST can be used in a real-life case
Poll: Should the Council Build a New Dam?
A local government’s water-works department wants to build a new dam to service the needs of the growing population and alleviate the pressure on the local infrastructure. The site identified for the dam borders on a nature reserve and some people are worried about the effect building a new dam might have on the native species.
The council may use Horizon State to poll their constituents. They would purchase the HST tokens from either the token exchanges or via a portal on the Horizon State product, where the price of the token is set by the free market. They then use those tokens to pay for the voting on the platform. The larger the number of people they want to poll, the more tokens they will need. As there is a finite number of tokens created during the ICO process, and no more will be created afterwards, the laws of supply and demand will dictate the token price.
20 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.
Formerly Director of UX at Tatts Group and the Australian Football League. Jamie devised and directed development of MiVote’s world-first blockchain voting MVP.
Formerly Chief Technology Officer at iPayroll. Entrepreneur and software developer with 20 years of experience building products.
19 full-time employees
- 17 of which in Development & Product
- 2 of which in Marketing & Communication
The HST headquarters is located in Melbourne, Australia
Exchanges offering HST
- United Nations, International Governmental Organization
- German Tech company SAP
- Nahdlatul Ulama, the world’s largest independent socio-religious organisation
- Potential partnership with a U.S. state
- Aims to use Decentralized Apps (dApps) to provide their service
- The technology is already being used by an Australian political movement named Mivote
- Used for corporate/municipal/NGO/organizational voting as well as political
- Eliminates election fraud
- Reduces cost of voting
HST explained (video)