Vote Coin Receives Algorand Foundation Grant Award

June 14th, 2022 - Since launching the Algorand Foundation Grant Program, we have received many submissions, globally, from developers and innovators eager to participate in the expanding Algorand Ecosystem. After a thorough review and selection process, we are delighted to announce Vote Coin as our latest Grant recipient. Vote Coin helps DAOs manage decision making by providing a secure, auditable and efficient onchain voting system.

Vote Coin’s vision is to provide an easy on-chain decision making solution. Vote Coin was an Encode Algorand hackathon winner and a participant in the Encode Algorand Accelerator program. The recent grant award supports Vote Coin in further developing encrypted voting. Encrypted voting allows DAO members to vote in the voting session without information on how other members vote. The secrecy of the vote is important in all democratic countries. When the vote is fully open, it may encourage other members who do not agree with the decision for action and the result may change. With encrypted voting the weight of the vote is the same in time during the whole duration of the voting session. After the voting session is over and the encryption key is published, everybody can audit the results by decrypting all the votes from the Algorand blockchain.

‘Vote Coin is approaching Series A funding round. Our plans are to provide the voting solution not only for DAOs, but also for governments, corporations and personal use. Everyone who might need a secure, auditable, and fair decision making solution should try it’. - Ludovit Scholtz, Vote Coin Founder

‘We are delighted to support Vote Coin through our grants program. Vote Coin is unique in this space offering DAOs an encrypted decentralized voting standard that allows both quadratic and linear voting results computation. DAOs can take advantage of this approach by allowing votes to change after being cast, organizations to manage their voting list on-chain, and enabling delegation of voting power. We believe that using DAO governance and voting systems helps to enhance efficiency and encourage more decentralization in community management’. Alan O’Connor, Grants Program Project Manager

For more information on Vote Coin please visit their website at https://www.vote-coin.com/ or follow them on Twitter.