The World’s First Blockchain Based Lottery Ticket Issued in Uganda
The world’s first blockchain based lottery ticket is issued in Kampala, the capital city of Uganda on April 12th, 2019.
Powered by the revolutionary lottery operating system developed on the top of the WinChain OS, a decentralized lottery technology platform which pulls together Blockchain technology, mobile payment and state-of-the-art lottery technology. This exciting debut of the blockchain based lottery from Mobile Lotto Ltd, a Uganda-based local lottery operator tells the world that the new era of lottery is finally coming.
From Mobile Lotto’s perspective, moving away from a centralized database system to a decentralized lottery technology platform like WinChain OS allows for maximum transparency. The closely guarded ‘secret’ of lottery draw and all its parameters such as random number generator are replaced with smart and self-executing contracts that are openly inspected before built into the transaction since day one. This ensures all participants understand no one can predict or alter the results without the consent of the majority, and keep track of exactly how their money is being pooled, how many players exist when the pool is ending, how the number draw is being randomized from unknown blocks, what percentage of the pool the organizers keep for themselves, and how privacy is upheld whilst compliance regulations are all met.
Based on the principle of fairness and openness, Mobile Lotto’s blockchain based lottery will not just fix the lack-of-transparency problem of today’s lottery system, but also make it much easier for the Uganda government to raise public funds thanks for its smart-contract based social sharing mechanism. Mobile Lotto is confident that its blockchain based lottery system will become a benchmark for the entire global lottery industry in terms of trustworthy and operating efficiency.
About Mobile Lotto Ltd
Mobile Lotto Ltd is a Uganda based lottery operator invested by Victory Game Challenge Inc. (VGC) from Silicon Valley, USA. Benchmarked with the US Powerball lottery, VGC is committed to obtain national lottery operating licenses in multiple African countries, to establish an African multinational lottery prize pool, and ultimately promote the development of the African lottery industry.
About WinChain OS
You may have played lottery before, or at least thought about it. However, rigged jackpots and scandals have made many of us sceptical, fairness is always difficult to demonstrate even for genuine lotteries operated on state or national level.
With many years of lottery technology development experiences, VGC is fully aware of the challenges faced by today’s centralized lottery system. Since early 2017, VGC starts to apply the blockchain technology into the lottery system. After in-depth comparison of public blockchain, consortium blockchain, and private blockchain, VGC decides to implement the WinChain OS, a hybrid blockchain system that combines public blockchain and consortium blockchain together.
The consortium part of the hybrid blockchain solution is used for transactions among game developers, resellers, auditors and other third parties. It has a classic permissioned setup, where parties can view, transact, get reward and make changes based on permissions they are given. This network is fast, scalable and secure, the cost of transaction is also low. However, adding more parties and establishing their trust takes longer than on a public blockchain.
The public part of WinChain OS allows any players to buy lottery tickets and put bets on a public network, with an easier process of trust establishment. Because public blockchain is completely open and decentralized, more people can participate in the lottery for prizes or rewards and they can be rest assured that the lottery they are playing with cannot be rigged, tampered, or cheated without consensus of the majority.
Similar to a large group of organizations can provide read-only access to their customers and write access internally and to suppliers to improve transparency of their processes, implementing a hybrid blockchain in lottery technology platform enables VGC to grasp the benefits of both public and consortium blockchains and further optimize the lottery operating process on the WinChain OS accordingly.
