The Why of the Dragon
The Dragon Digital Financial Platform, with its Dragon Global Chip and Dragon Coin (DRG), is one of the first companies to use blockchain technology to solve a real problem, providing benefits to both players and the casino gaming industry as a whole.
So, what’s the problem … ?
Many of us will have seen high stake games played in casinos around the world, whether it is the fictional James Bond character sat at the baccarat table, or the last nine at the World Series of Poker. What we won’t see is what goes on behind the scenes and how organisers manage to facilitate the large amounts of stake money needed by players on a daily basis. ‘Elite Gamers’, travelling to junkets in Macau, will often need a minimum stake of a million dollars for some VIP high stake games. Multiply this stake by the hundreds of players arriving each day and it’s easy to see how the amount of money being transferred between various accounts quickly reaches staggering proportions, with conservative estimates putting the figure at over $250,000,000 every 24 hours!
Moving these large amounts of money comes at a cost though, and a cost that is borne by both the junket organisers and gamers alike. Typically, transfer fees range from between 5% to 7%, and when these percentages are applied to a win of $10,000,000, it’s easy to see how a transaction fee of $700,000 can appear as somewhat excessive.
The Dragon Digital Financial Platform solves this problem by allowing fiat currency to be converted in to digital tokens and then moved instantly throughout the system, without the need for 3rd parties and their associated costs. By using the Dragon Digital Financial Platform, transactions costs can be reduced to around 1% to both organisers and players, as compared to the 5% to 7% currently being charged. With savings of this magnitude, it’s easy to see the benefits of moving to the Dragon Platform for everyone involved.
… and why use blockchain?
When funds are transferred via traditional banking systems, the banks need to know who owns the money being transferred and who the money is being sent to. This is especially true when large amounts of money are being transferred, and even more so when that money crosses borders. Up until now, we, the customers, have trusted banks to operate in a transparent manner, and on the whole, the banks have operated in a responsible manner. However, these transactions and transfers are undertaken in a closed system, leaving the customer with no ability to audit or inspect transactions, other than those they are involved in.
The blockchain solves this by making the ledger, or record of transactions, public. At any moment, you or I can download a copy of the ledger and look at a specific transaction, or simply double check the math to make sure everything adds up. In fact, you may have heard the term ‘mining’ being used more and more on the news, or in magazine articles and that’s exactly what mining is — using a computer to make sure all of the transactions add up correctly, and that transactions have been sent and received by the correct accounts. By using the blockchain, the Dragon Digital Financial Platform creates a transparent system that is constantly being audited to ensure the security of any and all funds that have been placed within the system.
Further information about the Dragon Digital Financial Platform and how to invest can be found at the following URLs:
Dragon ICO — https://tokensale.drgtoken.io/
Dragon Platform — https://drgtoken.io/
The Dragon Whitepaper can be found here:
- https://s3.amazonaws.com/drg-token/Whitepaper-Dragon.pdf
Bitcoin Talk Profile:
- https://bitcointalk.org/index.php?action=profile;u=1801246
