Dragon Inc, a fintech company that underpins casino gaming sector with blockchain technology, launched its pre-ICO (Initial Coin Offering) on Friday 8th December. This is a subscription round of funding that allows the public to buy the company’s cryptocurrency. The ICO was set to end on 15th December.
To enable investors of both Bitcoin and Ethereum. to participate in the ICO, Dragon Inc is considering extending the offer period by two weeks to ease congestion on the two networks. Investors have experienced serious challenges when transferring cryptocurrency in order to access the dragon ICO.
The deadline for the Dragon ICO was extended to 31st December.
The company CEO Chris Ahmad has come out strongly to defend the extension to allow community participation in this venture.
The temporary congestion challenges have, however, not dampened investor confidence with $1 million having been raised in the first weekend alone. In the gaming market, Dragon connects VIP gamers with ‘junkets’ -casino VIP rooms- across the globe that host private games and have a system of transferring funds via junket agents. Junkets account for nearly half of casino revenue worldwide.
In this space, Dragon Inc has a head start since it will enhance and improve junket and casino experience through cryptocurrency. This will allow junkets to attract VIP gamers by increasing transparency and reducing exchange and repatriation fees. The reduction in the cost of doing business has attracted significant interest and the company has raised more than $260 million through private investors, helping it to maintain its pace as a market leader in the world’s largest token sale estimated to be $600 million in total.
Dragon has already established a number of junket partnerships with an eye on this opportunity and plans to launch its first junket in the beginning of January 2018.
According to Chris Ahmad, Dragon CEO, the impact of this new business model will be immediate and dramatic allowing junkets to put the cards back in the hands of the players. This will save them huge sums of money and create new choices. A variety of mechanisms have been created for the coin holder to build long-term value while creating immediate benefits.
The benefits arising from this new model are huge in that Dragon will enable players to benefit from reduced commissions which run into the billions, increased security and transparency since it is built using blockchain technology.
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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Please conduct your own thorough research before investing in any cryptocurrency.
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Elon Musk Advises Crypto Users To Secure Their Crypto Keys Properly
The crypto community has not gotten over the fact that the world’s richest man has now invested in Bitcoin and has been pretty active in the industry.
However, the community is now receiving security tips for storing cryptocurrencies from Tesla’s chief executive officer. While pointing the security of cryptocurrencies, Tesla also criticized Freewallet app, a crypto wallet for its slack in security.
He also added that crypto investors should not bother doing business with wallets that don’t provide them with private keys.
Users should store their private keys
The unique way cryptocurrencies are stored makes them not redeemable when the keys are lost. Whether the holder stores them with third-party custodians or exchanges, the owner can only claim them when they provide keys to the crypto funds.
That makes securing the keys the most important thing when dealing with cryptocurrencies. As a result, selecting the safest hot or cold wallet is a priority if users want to keep their crypto investments safe.
Elon Musk has come out to advise investors to always store their private keys personally. For a company to receive the attention of the world’s richest man is something to take advantage of to grow. However, FreewalletApp’s short conversation with Musk is a sort of negative publicity to them.
After the company engaged with Musk about a Dogecoin-related post, the Tesla founder pointed out faults with the firm.
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Musk’s Tweets also impacted Dogecoin’s price
Tesla also added that it will start accepting Bitcoin payments for all its products, although this will be based on a limited basis and applicable laws. If the company concludes and starts accepting cryptocurrency, it will make it the first major car manufacturer to accept Bitcoin payments. The company’s founder and Chief Executive Officer Elon Musk has developed an interest in Bitcoin and cryptocurrencies.
He has been tweeting severally about the viability of the Dogecoin (DOGE), which doesn’t have an important market value attached to it.
ur welcome pic.twitter.com/e2KF57KLxb
— Elon Musk (@elonmusk) February 4, 2021
Few hours after endorsing Dogecoin, the cryptocurrency rose by an impressive 50%. But regulatory authorities are still concerned about the risks in cryptocurrency investments, with several regulatory bodies warning traders and investors they could lose all their money from crypto investments.
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“Discretionary coverage is a very important part of our ecosystem, so we are excited to partner with Bridge Mutual and leverage each other’s technologies,” says Rachid Ajaja, CEO of AllianceBlock. “We look forward to building an ecosystem where all participants have access to the best products while mitigating the ever-present risk of smart contract failure, hacks, and the resultant loss of collateral value.”
In 2020, as much as $200 million worth of digital assets was lost in attacks on major digital asset services. Bridge Mutual’s platform gives users the option to purchase and provide discretionary coverage, reducing investors’ risk of losing funds because of theft, exchange hacks, stablecoin price crashes, exploited contracts, and other vulnerabilities in digital assets.
By using Alliance Block’s multi-pair liquidity mining platform, Bridge Mutual will be able to offer BMI token holders instant liquidity through staking and high APY rewards for a variety of pairs. Once integrated into AllianceBlock’s P2P lending platform, Bridge mutual will be able to provide coverage to investors. Additionally, Bridge Mutual is working towards…