Kelly Holding Group, a Cambodia-based company, says it is developing a blockchain powered lottery platform aimed at “revolutionizing” the lottery industry.
In a press release, the company said it is working on a “Taobao” like a platform which allows users to design their own gaming rules, all of which will be guaranteed through blockchain technology.
Through a decentralized structure, the platform would allow bankers to set their own rules through intelligent contracts and blockchain technology. Blockchain technology would also be used to encrypt currency, which would ensure the complete autonomy of funds and the safety of the users.
The CTO of Kelly Chuangfu Club said that the aim of establishing a blockchain based gaming platform is to break boundaries and let users become both gamers and investors.
The use of blockchain also addresses industry pain points, namely lack of privacy of personal data, lack of transparency in the gaming process, and lack of security of the stored assets.
The platform is essentially an open-to-all lottery platform which would create a fair, open as well as transparent environment for gaming, Kelly Chuangfu Club CTO said in a recent interview.
Aside from creating a platform, Kelly Chuangfu Club would soon roll out its encrypted currency, Lotterycoin, which would be anchored to the dollar value chip.
The CFO of the company stated at a recent press conference that Lotterycoin would soon become the mode of payment for both online and offline lottery as well as offline brick-and-mortar retailing, and the price of the coin would stabilize at US$1.