High Stakes International Gambling Is About To Get Its Own Cryptocurrency [Infographic]

Today it seems like cryptocurrencies like Bitcoin and a few others are in the news all the time. We hear that some are good investments and others are bad investments. At times it seems like there are to many of these digital currencies to keep lane of them all.  That being pronounced some companies are using blockchain record in innovative ways that can change certain industries and these are value profitable courtesy to. One such company, called Dragon Inc, is formulation to use this tech to change the universe of high stakes general gambling and presumably online gambling.

Around the world, in places like Macau high stakes gambling is a outrageous industry. Hundreds of high rollers transport to places like Macau in sequence to play with millions of dollars at a time. But this creates a elementary problem. Getting millions of dollars to the list can be expensive. Typically, secretly saved bedrooms in these casinos, called junkets, hoop the whole operation and end up charging 5-7% for their services. That can be a lot of income that the players don’t get to play with but, for now, that’s just how these things are done. The people at Dragon Inc. want to offer everybody concerned a better and presumably more secure option.

Their devise is to use a cryptocurrency to make things easier to hoop for junkets and players. Players can simply buy into the digital banking and acquire tokens. Then they transport to their casino of choice and enter a participating junket. Once there they can sell their tokens for Dragon Global Chips on the mark using their smartphone wallet. These chips are used to play the several games in the trip and then the actor can spin them back into digital tokens when they are finished and when they arrive home, spin the tokens back into internal currency. It all seems elementary enough and according to Dragon Coin, it could move the costs down to about 1%. Which would be truly game-changing. Another advantage of using this system is that the blockchain record is more secure and trackable, which might assistance cut down on income laundering and the black marketplace economy.

A association called Dragon Inc is formulation to use this tech to change the universe of high stakes general gambling and presumably online gambling.

For now, Dragon Inc. is targeting the gaming marketplace in Macau but they are also partnering with 7 Luck Casino in South Korea and talks are underway with very well famous online gaming companies. Online gaming has been in some wily domain since the US upheld the Unlawful Internet Gambling Enforcement Act of 2006 which made it formidable for American players to put income onto online poker sites. It will be engaging to see how Dragon Coin plays into that situation.

You can learn more about Dragon Coin here.

Article source: https://www.forbes.com/sites/kevinanderton/2018/03/13/high-stakes-international-gambling-is-about-to-get-its-own-cryptocurrency-infographic/