Industry Challenges
The online voting industry is afflicted by a number of serious problems. Among other considerations, odds are vastly in favour of the organizer, payouts are not always honoured, and regular winners are restricted or banned. There is a lack of transparency and security, high fees and low returns, and low social involvement. These factors alienate a significant number of potential voters from taking part in such systems.
The VTNG Solution
In a nutshell, VTNG addresses the most profound challenges of conventional voting by shifting power away from the voting provider and into the hands of the voter community. Voters create the votes, set the rules, and provide the liquidity for fulfilling payouts. The whole process is fully decentralised, transparent, and self-regulating.
Blockchain technology makes it possible to operate the network without a middleman (the main source of structural issues and vulnerabilities in conventional systems). While Smart Contracts not only ensure that voting terms are respected and immune from manipulation, but also protect voter funds in an escrow account. Only when a vote ends, will such funds be released to the vote winner(s). All this, automatically and seamlessly.
