Lotto Nation is Revolutionizing the Traditional Lottery Industry - Global Coin Report
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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Current Lottery Model is Severely Outdated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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Aluna.Social is a Compelling Social Platform for Crypto Traders and Investors

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Aluna.Social

When one thinks about the social media landscape, the companies that first come to mind are most likely Facebook, Instagram, LinkedIn, and Snapchat.  These platforms are a great way to stay connected with friends, families, and colleagues, especially when geographic distance is a factor.  But, in addition to just chatting about life in general and sharing pictures, social media can be used to bridge the information gap that exists within the investment community.

Over the last decade, many trading offices have been established in large cities all over the world which allow solo traders and investors to pay a monthly fee in exchange for a workspace.  The real benefit to trading in these offices is to participate in the free flow of trading ideas and information.  Proprietary trading is one of the most challenging careers to be successful at and the exchange of ideas is almost required in order to succeed.  Traders at hedge funds and investment banks work in teams so why shouldn’t remote traders?

While these trading offices are a great way to help bridge the information gap, Aluna.Social may provide an even better way, especially as it relates to cryptocurrency trading.

Mission Statement

Aluna.Social, founded by Alvin Lee and Henrique Matias, is a multi-exchange social trading terminal for crypto traders and investors.  The goal of the platform is to help newcomers shorten their learning curve, unlock their full potential, and improve trading performance.  Cryptocurrency trading can…

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CoinFlip Scores Big with BRD Wallet Partnership

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CoinFlip

As the crypto markets move closer to mass adoption, one of the keys for future success will revolve around attracting as many market participants as possible.  While many crypto users are extremely tech oriented, a lot of those on the sidelines are not.  The cause of waiting on the sidelines could be due to a variety of reasons such as fear of the unknown, lack of knowledge, age, or a combination of all of the above.  In order to entice new users to join the crypto revolution, crypto ATMs are rising up across the country.  Of those, the largest and most influential crypto ATM company by a significant margin is CoinFlip.

In early October, CoinFlip announced on its Twitter that it had officially partnered with BRD Wallet to re-introduce their crypto ATM map.  Now, BRD wallet users will be able to locate their nearest CoinFlip ATM and receive a 10% discount for both buys and sells.  BRD brand awareness is growing quickly within the crypto community thanks to its innovative and entrepreneurial spirit.  The team strongly believes in the value of financial freedom and independence, and want to empower people across the world by leveraging the possibilities that Bitcoin and other cryptocurrencies provide.

Cryptocurrencies are already making a huge difference around the world.  Citizens of Venezuela, a country devastated by rampant inflation, have been using several cryptocurrencies like Bitcoin and Dash, to help protect their assets and hard-earned…

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Can Libra help the crypto industry to reach new heights?

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Libra is motivated and determined to change the face of payment procedures across the globe and make the blockchain-based project the leaders of payments.

The market for cryptocurrencies started with the launch of Bitcoin in 2009, and since then, so many cryptocurrencies have been launched that it gets hard to keep track of them. The crypto market has seen massive growth in the past 3-4 years as it started gaining attention from mass media, which helped in this boom.

From the past 2-3 years, several new cryptocurrency projects were launching in the market. Amid all this, the social media giant – Facebook announced the launch of their cryptocurrency platform, and this news got viral like wildfire. The announcement came forward in June, and the upcoming cryptocurrency is known as Libra, and it’ll come with its dedicated wallet called Calibra.

What is Libra?

Libra is a permissioned blockchain-based digital currency which is being developed under the supervision of Facebook’s vice president, David A. Marcus. The cryptocurrency is under development in partnership with an independent, non-profit member Libra Association. Facebook is the second member of the project, and these companies aim to use Facebook’s user base for the promotion of the digital currency when it is launched. The transactions and the cryptocurrency will be managed and cryptographically entrusted by the Libra Association.

Note: Libra Association was established by Facebook to look after the cryptocurrency and the transactions, and it was founded in Geneva, Switzerland.

The development of the cryptocurrency and a blockchain network started back in 2017, and…

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