Blockchain lottery to end a 300 billion USD monopoly
The millennia-old lottery market is about to get disrupted worldwide. For ages, lotteries were never transparent and tended to be operated by monopolies, with their fees and commissions unclear. As were the lottery draws themselves. Jackpots values remained volatile and low.
Blockchain is the future of business. It is estimated that by 2025, as much as 70% of all operative markets in the world will rely on blockchain technology. In consideration of the deeply-rooted unfairness and lack of transparency of all historical and current lottery monopolies, we thought of Ethereum’s blockchain smart contract as of a more than obvious solution.
NEW LEVEL OF TRUST
The launch of SmartBillions marks the birth of a lottery that provides a new level of quality and trust. It is designed as a community-driven global initiative supporting Ethereum and gameplay communities. It is a part of the worldwide disruptive and democratizing blockchain movement. The transparency and the trust attributed to the smart contracts operating on the blockchains are derivedfrom the fact that all agreements are executed automatically and allow no third-party access or administrator intervention.
Blockchain allows for a fundamental global shift to a decentralized, re-intermediated economy. It answers the social need for a global reinvention of lottery systems and their governance, geared towards full transparency. The world’s lotteries must either adapt to this new paradigm or get disrupted, as full transparency is undoubtedly the industry’s future. This shift is being dynamically introduced to all branches of the economy through blockchain technology.
A blockchain-based smart contract is a decentralized system architecture existing between a variety of permitted parties, where all intermediaries are eliminated. Banks and governments are now turning to blockchain systems as they are cheaper, faster and more secure than existing, traditional systems of data organization and exchange. While the blockchain mode of operations is designed as an expanding order (called blocks) register, it makes data fundamentally immune to alteration; the orders registered in blocks are distributed in a way that makes any future changes impossible.
The idea of smart contracts based on a decentralized ledger (digital contract, blockchain contracts, self-executing contracts) emerged from the work of cryptographer and law academic Nick Szabo in the early 1990s. In essence, the idea can be summarized as a conversion of contracts to computer code, where the storing and replication takes place on the network. The process is automatically supervised by the network of computer devices participating in the blockchain circuit. As a result, the ledger feedback loop takes place and the transfer of assets or receiving of services/products is made possible.
Atogether, they form an infrastructure that allows a zero-conflict and fully-transparent exchange of value (e.g. shares, money, property), bereft of “middleman” intermediaries. The smart contract infrastructure allows users to easily pay into the system (ledger), as well as to receive value and advantages from the security of automatically-enforced obligations based on rules and penalties specified in the contract.
SmartBillions’ VISION AND MISSION
SmartBillions’ mission is to provide a new, fully transparent economy to the lottery world, bringing incontestable freedom and equal chances atwinning to all players around the world.
The self-regulated smart contract solution gives SmartBillions an unprecedented chance to disrupt gaming category politics. Doing away with internal and external governance, hidden fees, unclear rules and any potential for deception will become the industry standard.
The SmartBillions’ vision is to become the first truly global, transparent and anonymous lottery with unlimited Jackpot potential. SmartBillions, with its internal and transparent management and no third-party involvement will revolutionize and create a new standard for all lotteries. In short, we are confident that SmartBillions will become the world’s biggest lottery and a reference point for all future lottery projects.
SmartBillions is the first fully self-amending lottery. It is decentralized and transparent because it is managed by an Ethereum blockchain smart contract. All bets and results are public and recorded on the platform. Any third-party involvement is impossible (only 0.25 % of the lottery funds are accessible to the smart contract’soperations).
COMPREHENSIVE, HACKATHON-VALIDATED SECURITY
The security of the lottery system and the smart contract has been third-party validated. When the lottery is launched, it will also have been tested via the hackathon of a 1500 ETH prize. The lottery will not require sign-up ordeposits. The payouts will be immediate, secure and anonymous, carried outautomatically directly after each lottery drawing. Ticket buys are user-friendly and immediate — transactions are completed in under 1 minute. Results will come in approximately 60 seconds and the win payout is instant. 1% of the value of the Tickets sold will be transferred to affiliates driving the lottery’s traffic (see more: http://smartbillions.com/affiliate.html)
LARGEST LOTTERY JACPOT IN HISTORY
The current estimated Jackpot value is approx. $2.5 billion, which is the highest possible win that has ever been recorded. Furthermore, 94–95% of funds from Ticket sales are transferred directly to the Jackpot. When compared with itsclosest competitors, the SmartBillions’ Jackpot value is far more advantageous for the product’s growth and development. It guarantees the constant growth of the Jackpot and makes SmartBillions increasingly more attractive for both players and PLAY Token holders.
PLAY TOKENS CROWDSALE
The SmartBillions PLAY Tokens initial offering is the start of a groundbreaking revolution in the $300 billion industry. The SmartBillions tokens crowdsale (“ICO”) goal is set at 200 000 ETH. 90% of the funds raised will be allocated to the Jackpot. The remaining funds will be designated for marketing. SmartBillions PLAY Token holders will receive a monthly dividend starting one month after the initial token offering closing date. The price of the PLAY Token is set at 0,001 ETC (0,3 USD). The Estimated Annual Yield is over 30%. Token Holders are given a revolutionary investment protection guarantee. They are allowed to redeem Tokens any time after the PLAY Tokens crowdsale closing date and reclaim the majority of their invested funds, under any circumstances. Unlike other “ICOs”, most of the funds (90%) will be retained within the contract as Jackpot funds, making the SmartBillions crowdfund highly attractive for investors.
Hackaton starts October 2nd.
The PLAY Token crowdsale starts October 16th.
The SmartBillions lottery launches October 30.