The gambling industry including the lottery is indeed a very high risk game but is comparable to the prizes obtained for the winners. This industry continues to grow with the increase in the value of their market capitalization in 2014 reaching 187 billion USD. Until 2016 the value increased to 294.3 billion USD and will continue to grow. This indicates that many people like this industry and make the gambling industry one of the stable industries with an average growth of 4.3% per year and will continue to grow.
Behind the success of this industry was followed by an increase in the number of mobile and internet users which contributed greatly to the growth of the online lottery. Total revenue from online potential from mobile devices in 2013 is estimated at up to USD 34 billion, of which 44% of the total comes from Europe and North America. A fantastic number and signifies loyalty and people's desire to win the lottery higher. How not, the growth rate of adoption of mobile internet technology is indeed very rapid and certainly very much helps the growth of the lottery market itself online. However, in this world nothing is perfect and certainly has weaknesses or problems that need to be solved so that a business can survive and develop over time. In this lottery industry in general have some questions that arise from the participants such as whether the winner is really random? Is it fair to issue 40 - 60% of ticket sales for sweepstakes? Is it true that manager fees are the right remuneration? besides, it is also a problem regarding the difficulty of disbursing prizes, not to mention high commissions and taxes, of course very difficult.
There is a blockchain-based project that appears by offering a product that will provide solutions to the various problems mentioned above. this project called Gexan which we will discuss later on this occasion. What solutions do they offer? are they able to provide the right solution so that online lottery adoption is increasingly advanced? here's the question we will find out the answer. Let's discuss it now.
Gexan offers a decentralized autonomous lottery platform which will penetrate the general lottery industry boundary and will create a fair lottery ecosystem with high participants' profit rates, and minimize losses when participants receive their winning prizes. How can this be realized? The team behind the Gexan project has prepared various things to realize this goal by using masternode, hybrid POW and consensus POS algorithms, GEX coins, lottery platforms themselves, smart contracts, participant wallets, fiat lines on sites and mobile applications. Let us discuss the functions one by one from all of them.
• Blockchain technology that will oversee and make the flow of funds look easy or transparent for anyone. This makes it possible to track whether, when, and to what extent payments have been made.
• Smart contracts serve to regulate a fair lottery system. Available to anyone and cannot be changed so that the results of the lottery winners cannot be manipulated.
• All costs borne by winners such as sales outlet costs, staff, distributors, printing to lottery ticket verification will be reduced due to the use of blockchain technology and smart contracts and other equipment.
• Costs for developers are very reasonable, only 5% of total ticket sales which will be used for further marketing as well
• For investors who buy their tokens at the time the ICO will get some profit-guaranteed facilities.
• Smart contracts serve to regulate a fair lottery system. Available to anyone and cannot be changed so that the results of the lottery winners cannot be manipulated.
• All costs borne by winners such as sales outlet costs, staff, distributors, printing to lottery ticket verification will be reduced due to the use of blockchain technology and smart contracts and other equipment.
• Costs for developers are very reasonable, only 5% of total ticket sales which will be used for further marketing as well
• For investors who buy their tokens at the time the ICO will get some profit-guaranteed facilities.
Simply put, Gexan has prepared everything and even the lottery sales website is ready and operational. this shows that they are not a random project and certainly guarantee the sustainability of the project. What do you think? are they interesting? if you need more information about them they can visit the link below. Good luck
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