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Lotto Nation is Revolutionizing the Traditional Lottery Industry

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Lotto Nation

As the global economy continues to deal with the economic fallout due to the ongoing pandemic, companies are coming to terms with the fact that normalcy may not return for quite a while.  Many economists are wondering how the business landscape will look a year or more from now.  It’s certainly possible that many businesses, such as retailers and restaurants, may be unable to survive the current downturn.  But while some businesses will falter, others will emerge stronger than ever.

Traditionally, when economies go through a severe downturn, companies adapt.  Those that maintain the status quo usually have great difficulty while those that adapt prosper and conquer.  One possible example of this is Lotto Nation.  Thanks to the entrepreneurial skills of Nils Thomson, the Founder and CEO of Lotto Nation, the company is attempting to completely modernize the traditional lottery industry.

Current Lottery Model is Severely Outdated

It’s safe to say that nearly every human that has ever walked the earth has fantasized about winning the massive jackpot that would completely change their life.  These dreams have turned the global lottery industry into a $302 billion market that is expected to reach $380 billion by 2025.  Despite this predicted growth, the industry suffers from a variety of problems that are preventing it from really exploding.

Perhaps the biggest problem is that traditional lotteries are centralized.  Because of this, there is essentially no oversight on what a lottery provider may or may not do.  This lack of transparency leads to high levels of fraud and hidden costs that cause a great deal of trust issues among the lottery participants.  In addition, players often have to deal with highly restrictive limits on withdrawals that can be burdensome to deal with.

Businesses and charities have their own hurdles to deal with.  Problems for these participants include the following:

  • Large entry fees
  • High costs of running an online lottery
  • Large jackpots cannot be offered
  • Long and expensive licensing processes involved
  • No support for blockchain protocols

The last issue is extremely important especially as it relates to this article.  One of the best aspects of blockchain technology is efficiency and transparency.  In this case, the use of blockchain technology would result in eliminating the middleman which will lead to better results (including fairness) for all those involved.  Additionally, blockchain technology is borderless which will truly help to capture a global audience.

The Rise of Lotto Nation

Lotto Nation is a first-of-its-kind, decentralized lottery platform run on the blockchain and powered by artificial intelligence that allows companies, charities, and individuals to set up their own lottery and connect with players through the most reputable and advanced technology.

The platform’s mission is to become the best fully licensed blockchain lottery in the world.  Lotto Nation allows any person or business to create and run their own lottery and invite friends and family members to become part of a syndicate (a group of participants).  The biggest advantage of this revolutionary platform is that it utilized a social aspect.  By digitalizing and introducing a social aspect into the platform, Lotto Nation is creating a transparent ecosystem with the use of smart contracts and a random number generator built on blockchain to guarantee full fairness in the drawing process.  This will remove the high levels of distrust associated with traditional and centralized lottery operators.

There are 5 critical aspects which make Lotto Nation unique compared to the traditional lottery providers as well as blockchain competitors.  Those aspects are:

Strong Track Record – The company behind Lotto Nation, Winners Group, has a strong track record in building and running successful B2C lottery sites for over 20 years.

Disruptive Microservices Platform – The platform offers a disruptive agile online lottery turnkey solution built on microservices.

Massive Product Offering – Players have an opportunity to play 26 national lotteries with the highest global jackpots. In addition, players are kept busy through multiple daily drawings as opposed to just once or twice a week which is what traditional providers offer.

Unique Insurance Model – The platform’s insurance partner, Lloyds of London, allows Lotto Nation to insure and offer high jackpots for its B2B clients.

Social Interaction – As previously mentioned, the social aspect employed by Lotto Nation will result in a significant increase in customer loyalty.

Conclusion

There is absolutely no doubt that blockchain technology is going to have a monumental impact over the coming years.  This will be seen across a variety of industries and implemented by most the aggressive companies.  One industry that is in dire need of modernization is the lottery market and thanks to the revolutionary platform, Lotto Nation, the modernization will be coming a lot sooner than many expected.

Image by Hermann Traub from Pixabay

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Rewards Platform StormX Offers 50% Crypto Cashback Bonus for Thanksgiving

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Singapore, Singapore, 23rd November, 2020, // ChainWire //

Blockchain-based rewards platform StormX has released a seasonal promotion for its award-winning Crypto Cash Back App. The promotion will allow app users to earn a 50% bonus on top of their cashback between Thanksgiving Day and Cyber Monday (November 26-30).

StormX has also introduced a brand-new staking service, allowing users to earn an additional 50% per year when they stake STMX tokens. The native ERC20 token of the StormX ecosystem, STMX has a total supply of 10 billion and is available to trade at many of the world’s top exchanges, including Binance and Bittrex.

“With Bitcoin’s price approaching its all-time high, interest in cryptocurrencies has renewed, though some people believe it’s now too expensive to buy in,” said StormX CEO and Co-Founder Simon Yu. “What we have done is create an easy way for such individuals to accumulate bitcoin, ethereum and other cryptocurrencies via everyday shopping.

“We’re also excited to provide users with the ability to earn greater rewards simply by staking their tokens.”

Since the StormX mobile app launched its Shop feature with over 700 stores in February 2020, some 400,000 unique users have been added to the rewards platform. StormX has also witnessed over 50% month-on-month growth for sales. The app is available for download on the App and Google Play Stores, and can be downloaded as a browser add-on from the Chrome Web…

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3 Reasons Why Liquidity Dividends Protocol (LID) Will Be a Huge Winner

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Liquidity Dividends Protocol

Since 2017, cryptocurrency has experienced both the crazy highs and the crazy lows with fortunes being made and lost overnight.  That volatility is one of the main reasons why cryptocurrency has been relatively slow to gain mass adoption.  In addition to volatility, another concern for many is the lack of security and regulation in the market.  This can be seen through the countless exchange hacks and rug pulls that seem to occur on a weekly basis.  In order for cryptocurrency to move into the next stage of maturity and bring on mass adoption, investors and users will need to feel secure knowing that their funds are safe.  One promising organization that may have the perfect solution is Liquidity Dividends Protocol (LID).

What is Liquidity Dividends Protocol?

Liquidity Dividends Protocol is an up and coming organization that provides locked liquidity services to cryptocurrency projects that launch their offerings through ERC-20 tokens.  It lets non-custodial pre-sales lock liquidity of a token in a trustless manner through Uniswap.  This locking process will prevent every investor’s worst nightmare of seeing their hard-earned money disappear through “rug pull” scams that are designed to remove liquidity out of DeFi projects.

This year has seen an explosion of interest in Uniswap and DeFi projects.  Many investors have generated enormous returns on investments, but many have experienced the pain of being duped.  Below are three reasons why LID Protocol is poised to be a massive winner in…

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BITTREX GLOBAL CONFIRMS FREE TRADING AND LISTING FOR TOP DEFI TOKEN

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Valduz, Liechtenstein, 17th November, 2020, // ChainWire //

International cryptocurrency exchange promotes free trading and no gas fees for leading DeFi tokens

17th November 2020 — Bittrex Global GmbH. announced today 8 new DeFi tokens will be listed this week including:

  • UMA (UMA)
  • Aave (AAVE)
  • Balancer (BAL)
  • REN (REN & renBTC)
  • Kyber Network (KNC)
  • Band Protocol (BAND)
  • YF Link – (YFL)

Bittrex Global’s users can trade all of their DeFi  tokens with no trading or gas fees until 2021. The decision to enable free trading on Bittrex Global for DeFi tokens  follows on from the 1,000% growth of the DeFi asset class over the course of 2020.

The decision to enable free transactions will see more investors enter the Blockchain Act’s digital asset regulatory system, supervised by the Financial Market Authority in Liechtenstein (FMA) under the Due Diligence Act which requires traders to comply with the KYC/AML/CFT standards.

“The last year has seen huge growth in DeFi as an asset class and a number of significant milestones completed,” said Bittrex Global’s CEO Tom Albright. “As the asset class matures and more institutional and professional investors look at the fundamentals, we are likely to see increased demand and higher trading volumes for DeFi in 2021.

We’re really excited about what we’re seeing in the space and want to see these DeFi projects grow and help them build stronger platforms through increased adoption. Offering free trading fees…

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