ACT — Inflection Point
Scale will happen on the ACT platform after the inflection point
Out of the many discussions during these past few weeks of pre-ICO, the question most frequently on participant’s minds was, “how will ACT achieve scale”?
To answer this we need to look at the inflection point. What are the factors around this inflection point?
I believe that two things are going to happen:
Firstly, the consequences of issues such as climate change, food security and biodiversity loss are going to bite down. And by that I mean that ordinary people are going to feel those consequences either economically, or, in more and more cases, tangibly when food disappears off shelves or extreme weather events impact their livelihoods or lifestyles.
The second factor is the proliferation of the crypto token and the ever expanding use-cases for it. Huge everyday challenges such as sending small amounts of money from one country to another, or dealing with the massive inefficiencies and costs of centralised services are driving this revolution at staggering speed.
ACT is a new type of crowdfunding. I have agonised for years about the question of why people don’t act in response to the threats facing us all. One of the biggest impediments is psychological, based on some sort of embedded DNA level code that causes people to react with stoic passion when faced with an immediate crisis such as a child slipping and falling, but with ambivalence as humanity trundles towards the cliff edge.
It’s to do with the influence they can have relative to the scale of the issue, and there is a dose of “someone else will take care of it” in there too.
ACT is built so that no “big fish” can fix things. Only everyone can. This is because the capital used to support causes comes from an aggregate pool. This pool is funded by people purchasing votes with Ether. And people can only purchase and apply limited numbers of votes.
This will address the “my contribution won’t matter” thinking, because without your contribution nothing will happen. Actually, this is one of the reasons that traditional crowdfunding works. People can see that, although there are higher ticket-price options, they are limited therefore whatever they contribute will matter.
So, what about this inflection point?
ACT will develop on first movers but its growth will in all likelihood plateaux as the factors above develop. Thats fine. Like any great platform — think of Steemit, for example — tunable values will need to be tweaked and teething problems ironed out. But the platform will be ready for when it’s context matures.
What the inflection point graph shows is the point where the issues facing citizens cause them to react, and where the access to, and utility of crypto currency makes it the perfect instrument for them to use to take ownership of the issues and drive change. All they will need is a suitable platform that brings those the issues and the means to fix them together. And that is the ACT DAO.
