Verity welcomes betbox: August DEV Grant Winner
Verity is delighted to announce that the latest DEV grant will be awarded to betbox — the decentralized application that allows you to place bets on personal challenges, private events, public events, and lottery games.
We spoke to Stefan Godly, creator of betbox who told us more about the project.
Hi Stefan — congratulations on winning the Verity DEV Grant this month! Can you tell us a little bit more about betbox?
Betbox is a startup which originated via a simple bet and a bunch of crypto-fanatics in Switzerland. The idea behind betbox is to provide easy access to a trusted party which manages simple, everyday bets between two random people.
We have tried to create features and tools to entertain our users and also to provide a sustainable infrastructure with our native currency the OX Token.
We connect people through individual betting, in public or private. Our users may also take part in global bets regarding political events, sports events or other real-life events.
As our goal is to fully decentralize betbox, we rely on the infrastructure of the public Ethereum mainnet. In operation, we will increase the usage of betbox by developing several dApps. To allow us to offer affordable services for specific features in those dApps, we will deploy a POA sidechain governed by the public.
The OX-sidechain will be led by a global consortium of trusted parties verified with proof of identity. When microtransactions or similar is needed within a process, betbox may outsource those mechanics to the much cheaper OX-sidechain.
A big part of betbox is using an oracle and we are very happy to have found a partner (Verity!) which provides us with the ideal solution.
How did you become interested in Blockchain?
I have always been interested in technical matters and heard about bitcoin in the early days but somehow always got distracted by other opportunities and interests.
After successfully establishing an IT-focused company together with friends, we finally took a deep-dive into the technical and monetary essence of cryptology and its tokens during the ‘altseason’ of spring 2017.
I was fascinated by the high returns of certain tokens and the global power of people during surges and dumps. But also, the technical possibilities of the blockchain, which are mostly yet to be discovered, really fascinated me. Shortly after, I started creating a concept for our first dApp: betbox.
Where did you first hear about Verity?
It was at ICO Race in Lugano in Spring 2018 where I met Martin Mikeln, Verity Co-founder, and I was instantly overwhelmed by his idea and drive. I still don’t know if this meeting was coincidence or destiny; we were looking for a sophisticated solution to use as our oracle at the time. Our cooperation with Verity simplified a lot of processes and we now can publish our product earlier than expected.
How will you use Verity to power betbox?
Betbox offers numerous features and betting tools. Some of these features rely on a decision-making process. The decision-making part is not only essential to decentralizing the authorities in our POA sidechain, which will be governed by multiple OX-nodes from our partners and users but also involves in-app voting to reveal public bets, detect fakes or perform recognition of visual proof.
For these decisions, the oracle consensus of Verity seems to be the missing link which enables betbox to gather reliable information from human beings and find a consensus.
What’s the betbox business model?
Our business model is simple: bet on everything, always and everywhere.
Betbox takes a small commission from the bets that take place on our platform.
What’s the betbox roadmap?
At the current rate, we hope to release our app in Q1 2019. Prior to that, we plan to provide a web version. In the meantime, we are preparing our TGE (token generation event).
Longer term, we plan to integrate FIAT currency in to betbox and provide a separate infrastructure for bets and games with small amounts at stake on a private POA Ethereum sidechain.
In order to safely transfer our ERC20 token to the sidechain, we have already contracted a partner company which will be announced at a later stage.
Betbox seems to be just one of your projects — what else are you and your team working on?
This question certainly is too broad for this interview. But I will do my best to give you a quick insight. It all started some years ago with REFIVE our IT focused startup. This setup helped us to release dozens of projects for clients as well as making some of our own ideas to fruition.
Our aim is to share our knowledge and experience with our partners and customers. Therefore, we offer a wide range of IT focused services to our community through different channels e.g. apper.ch for mobile applications or blockstein for blockchain related topics.
Nevertheless, we have a strong focus to bring our own products to the market as well and betbox is the project with the highest priority for me.
We are fully dedicated to providing excellent products to our users, customers, and investors, and fortunately, we have a highly capable and experienced team to make this happen.
You’re based in Zurich, Switzerland — which is known for being a blockchain hotspot (just like in Ljubljana, Slovenia) — what is the blockchain community like over there?
People go crazy over blockchain here and the Swiss government also tries to be forward-thinking. Certainly, there are a lot of projects currently being developed in stealth. I am sure we will see big releases in the next few years of well-known companies but also new startups.
Even the universities here are now offering new courses on the topic. They provide opportunities to deep-dive into cryptology and I am sure it will have a huge impact in mid-term future.
What do you like to do outside of your work?
It varies a lot. I try to live a flexible lifestyle and I love to try new things with friends and family. I love water in general and therefore try to spend a lot of time on a board outside of my work, although I actually really enjoy my job too.
Check out betbox.app
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