The Technology Behind Vantage Token’s Contribution Tracking Platform

narasimman (30)in #blockchain • 6 years ago

Vantage Network is launching the first Contribution Tracking Platform powered by the NEM blockchain to bring full transparency and traceability to fundraising campaigns. To achieve this vision, the team is holding a public crowdsale on July 1st to finance the development of a new decentralization platform for donors and fundraising entities. Interested investors may want to learn about the technology that will drive the Vantage Network.
Blockchain
The Vantage Network will be built on top of the NEM main net, which is one of the world’s most powerful platforms for decentralized applications. NEM was chosen because it provides smart contracts, a network of nodes and storage capability — all of which are needed to process payment transactions over the network.
The Vantage Network’s token, XVT, will enable participants to track and trace donations and disbursements over the platform. The total supply of XVT tokens is capped at 200 million.
Components
As a customizable Contribution Tracking Platform, the Vantage Network consists of six main components, including:
Web Portal: the interface that connects fundraising entities, donors and other network actors. This includes dashboard, tracking page and third-party explorer features.
Donation Point: this is where fundraising entities can solicit contributions from donors.
Digital Asset Management Platform: as the core system of Vantage Network, the Digital Asset Management Platform links together the entire infrastructure, including smart contracts and NEM private and public ledgers.
API: a custom-made programming interface will drive the Vantage Network Portal and Mobile Payment Application.
Vantage Network Blockchain: the public chain for transacting XVT tokens and the private network for recording and tracing all transactions.
Vantage Mobile Payment Application: the app that is tied to the fundraising entity’s account where donated funds are held.
Stakeholders
The Vantage Network platform will consist of the following stakeholders:
Donors: contribute money to a charity, non-profit or other organization;
Fundraising entities: the individual organizations that receives donations;
Payment provider: the credit card processor that accepts the contribution from the donor; and
Auditors: the organizations that audit fundraising entities.
Combined, these key roles ensure that the Vantage Network is easily accessible by donors and fundraising entities while ensuring that the entire contribution process is transparent and traceable.
Product Development
The Vantage Network platform will be rolled out in multiple phases, beginning first with the token sale followed by core development of the underlying infrastructure. The launch of the Vantage Network with partner organizations is scheduled to begin in the final quarter of 2018. Phase 2 of the project, which begins next year, will open the door to other fundraising entities as well as integrate new tools to improve auditing capability. Product rollout will continue through to the end of 2019, culminating in a new machine learning algorithm to collect data for future campaigns.