$Choice Coin: Bridging the Gaps in the Democratic Voting System with Innovative Open Source Digital Asset on Algorand

To achieve the decentralized governance goal, we need a technology that will give us the best feeling of both worlds; therefore, hybrid blockchain will be our best bet.

The is because we want every organization to enjoy the combined elements of both private and public blockchain. – which hybrid blockchain gives.
Algorand blockchain will allow the setup of a public permissionless system alongside a private permission-based system. It’ll permits us to control who can access certain data stored in the blockchain through a smart contract and data opened up publicly. A system that can keep confidential Information inside its network but is still verifiable if needed.

However, since the existence of Algorand, why are its potentials not fully engaged to bridge the gap in the traditional democratic system? Thus, the needs birthed the innovative open-source digital asset referred to as Choice Coin.

There are many benefits associated with using Choice Coin. Some of these include:

It bridges the gaps created by the centralized governance system.

It facilitates secured voting across the industry for various applications.

Promotion of open innovation, borderless blockchain, and collaborative through rewards and micro-grants.

Supporting asset for the Algorand network to increase the value of the network.

Gives an opportunity for symbiotic votes for specific purposes, such as political elections or corporate voting.

It creates the opportunity to set up your decentralized voting mechanisms centred around the Choice Coin asset, and it provides both guidance and Choice Coin as an incentive.

What’s your opinion about this project?

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Hi @Donboab … welcome to the community…

what has motivated you to write this post? Have you seen AMS0001 ?

The difference between Choice coin and AMS-0001 standard is

  • you can delegate your vote in knowledge based manner in AMS-0001
  • it has working implementation on the mainnet / testnet / sandbox
  • it is true knowledge based pure democratic voting system
  • does not rely on how much coins you buy that much power you have
  • have different extensions (1 person = 1 vote, 1 coin = 1 vote, delegation,…)

You should read Decentralized Decisions on Algorand with Choice Coin. The differences you are citing are inaccurate, @scholtz. Choice Coin can do everything that a system developed with ams0001 can do, but it can also do more because it is not limited to pure democracy. Instead, it is adaptable and heterogeneous in application. Moreover, Choice Coin voting does not inherently rely on the number of tokens possessed by an individual voter.