Obtaining the license is certainly an important step in the development of Kibo as the first fully decentralized international platform for lotto games.
The license, issued by the regulator on Curacao, opens the door for Kibo’s legal interaction with players and partners in accordance with international legal norms.
Given that Kibo is an innovative platform, the algorithms of which are completely built on Ethereum smart contracts, we needed to do a lot of work in order to meet all necessary regulator requirements. This included deep dive into the details of the project and audit of the platform’s random number generator with the involvement of Trisigma, which is an accredited test laboratory specializing in software testing and certification in the gaming industry.
Today we are pleased to announce the completion of this important work. This is significant not only for the operation of the Kibo platform but also for the lotto industry as a whole.
Date of receipt: July 10, 2018
License number: 8048 / JAZ2018–039
Despite the fact that the transparency of all draws, from buying a ticket to earning wins, is regulated by a smart contract and does not need additional guarantees, licensing of Kibo opens up new, no less important opportunities for the development of the platform. The most obvious of them are: access to banking services and payment systems to provide players, in the future, a possibility of buying a ticket through the usual payment systems, as well as access to all promotion tools and a mutually beneficial legal partnership with any representatives of the gaming market.
We do not stop there and our lawyers are actively working with regulators in several jurisdictions to obtain new licenses to maximize our presence and unhindered promotion of Kibo Lotto in the maximum number of countries.