Connect with us

Altcoins

Lotto Nation is Revolutionizing the Traditional Lottery Industry

Published

on

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Current Lottery Model is Severely Outdated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

Altcoins

META 1 Coin Trust Announces Commission to Study Global Persecution of Cryptocurrency Projects

Published

on

Boca Raton, Florida, 27th October, 2020, // ChainWire //

Collaborating with Other Cryptocurrencies, META 1 Tackles Injustice and Human Rights 

META 1 Coin Trust has announced plans to identify, research and document instances of governmental overreach in cryptocurrency cases globally, as part of its ongoing efforts to advance human rights and individual freedom. 

According to Robert P. Dunlap, Executive Trustee of META 1 Coin Trust, “The malicious attacks on crypto projects globally by overzealous government agencies must be documented and publicized to protect the individual liberties of META 1 Coin holders, as well as issuers and holders of other cryptocurrencies.” He added, “The decentralized, non-jurisdictional reality of crypto has left government agencies often unable to fully litigate cases and the general public should not have to continue suffering due to excessive overreach as agencies clamor to save face.”

META 1 Coin Trust is led by Robert P. Dunlap and Nicole Bowdler, who are both committed to pushing back against unimpeded global persecution of cryptocurrencies. By calling attention to years of organized efforts by government agencies to specifically target cryptocurrency projects, their hope is that the public will see and demand an end to these unjust violations of individual liberty. 

Specific grievances which motivated this initiative include grave concerns over government agencies’ obstruction of individuals’ livelihoods, defamation of character, and libelous false accusations which could tarnish the names of individuals for years to come, long after legal actions…

Continue Reading

Altcoins

GDA Capital in Conversation About the Future of Digital Assets at Global Family Office Summit

Published

on

GDA Capital organized the quarterly Global Family Office Summit this week. The event was held virtually with a number of technology leaders and high net worth investors who discussed issues such as education, trust and responsibility to give back. Among these were insightful conversations with Dubai-based Dalma Capital’s CEO Zachari Cefaratti, Holt Fintech Accelerator founder Brendan Hold Dunn, Global Data Sentinel CEO and White City Ventures Chairman of the Board Shahal Khan, and Elitium CEO Raoul Milhado, among others. Participants were also given access to off-market opportunities to invest in novel technologies.

Will Bartlett, GDA Capital’s Director of Research, headlined the event by focusing on tech in the modern economy, and identifying six sectors where new technologies can make a lasting impact: robotics, space, biotech, machine learning, quantum computing, and blockchain. In the context of blockchain, he discussed how digital assets are a hedge against traditional financial markets. “Cryptocurrencies have no exposure to stock market returns, macroeconomic factors, or returns of currencies and commodities,” Bartlett said.

More so, Bartlett believes that new models for digital assets such as DigitalBits’ branded stablecoins are key to the development of the field. These currencies replace traditional rewards and loyalty point systems that are commonly used by household brands by porting them to the blockchain. Meanwhile, they rely on brand…

Continue Reading

Altcoins

Chainwire Launches Blockchain-Focused Automated Press Release Distribution Service

Published

on

TEL AVIV, Israel, 13th October, 2020, // ChainWire //

MarketAcross, a world leader in blockchain public relations and marketing services, is pleased to announce the launch of Chainwire, an automated press release distribution service which provides guaranteed coverage and in-depth reports. Chainwire will be a one-stop-shop for the distribution of press releases in the cryptocurrency and blockchain sector. The launch marks the first time that advertisers can reach leading publications in the crypto media with the click of a button. 

While most industries have some kind of PR newswire service, the cryptocurrency sector has become a victim of its own rapid pace of growth over recent years. Since the ICO boom of 2017, there has been a proliferation of blockchain and crypto-focused projects, exchanges, investment firms, and marketing agencies, along with niche news and informational content sites. 

However, the infrastructure to connect this complex ecosystem has been slow to come up to speed, meaning that existing newswire services don’t reach their target audience. It’s estimated that one in five people own cryptocurrencies, so there is currently a significant missed opportunity to reach a massive global readership. 

As a newswire service dedicated to the crypto and blockchain space, Chainwire aims to address this gap. Press releases are distributed to leading publications, offering guaranteed coverage to reach audiences worldwide. The system is integrated with publishers and blogs, enabling accurate reporting via a user-friendly dashboard. It also…

Continue Reading

Press Release