The first and only cryptocurrency resort with a physical location
Today, we will present you Providence — the first and only Cryptocurrency casino & resort with a physical location. The team standing behind this amazing project is building a resort that will be running entirely on cryptocurrencies. The resort will include a big casino, hotel, restaurants, etc…
You can’t spend your coins anywhere
They want to solve the problem of people not being able to spend their Bitcoins, Ethereum or other crypto coins in the real world. It’s not fair that crypto currencies are accepted in a few countries as a regular way of paying, but places where you can use them are still limited.
If you want to rent a room in a hotel with Bitcoins, you can do that in only 2–3 hotels worldwide; the situation in the gambling industry is as follows. Online cryptocurrency casinos have taken off, but there’s currently no physical place where you can go to spend your cryptocurrency on gambling.
In gambling people want to use the physical casino
In 2015, emerged an interesting thesis that looked at the distinctions between offline and online Gambling where the action of gambling offline is characterized by social interaction, a physical location where an individual travels to gamble.
Players value the easily accessible recreational activities and amenities when gambling at a casino. These include alcohol, food, hotel rooms, and other forms of entertainment available to a consumer or tourist, such as “shows”, pools, and shopping, to name a few.
The blockchain technology integration
Our innovative blockchain technology will be integrated into every retail outlet in the casino, including the hotel, restaurants, and luxury product stores. The goal is to create a truly cashless enterprise.
Ethereum, a smart contract based blockchain provides an ideal solution for the cashless casino as transactions can be easily conducted through participants actions without the need for human action. As such, gamers can easily visit the casino, exchange their cryptocurrency for chips at our own exchange and proceed to play their preferred game without the need for human actors and administrators in the currency exchange process.
Providence resort & casino opening
The Providence will begin with operations in Q2 next year (2018) in tourist location somewhere in Europe. The location is a secret at this moment, but it will be announced in October this year (2017). The project already got support from a few investors and capital fonds, and the team will take another investment round in upcoming months.
