Lottery industry has its reputation as a profitable industry. Cambodia-based Kelly Holding Group recently announced that they are aiming at revolutionizing the industry with the help of block chain technology.
Cambodia, 10th October
Investors with deep pockets often plough money into the lottery industry, as it is generally perceived as a profitable industry. In a bid to create a win-win situation for all sorts of investors, small and big, Cambodia’s Kelly Holding Group is now developing a lottery ‘Taobao’ platform which is based on the block chain industry. Kelly Chuangfu Club, one of its subsidiaries, has already undertaken its ambitious core project, EGCC. EGCC has now a global block chain research team consisting of IT professionals and block chain experts and it has got the backing of the multifarious Kelly Holding Group.
The aim of the “Taobao” platform is to create an opportunity for everyone to become a ‘banker’ in lottery games. In traditional gaming system, a banker has the liberty to adjust the odds at a lottery club just to ensure a steady profit for himself. There are certain other pain points of the lottery industry which EGCC has addressed. Specifically, the “Taobao” platform is aimed at solving three pain points of the industry, namely lack of privacy of personal data, lack of transparency in the gaming process, and lack of security of the stored assets. The platform is essentially an open-to-all lottery platform which would create a fair, open as well as transparent environment for gaming, the CTO of Kelly Chuangfu Club said in a recent interview.
According to the CTO, with the help of the block chain technology, users can easily design their own gaming rules, create a fully legal gaming house on the “Taobao” platform, and build their wealth in a compliant and transparent manner. The EGCC ecology would support the realization of lottery scenarios, ensure the safety of personal data of participants and create a broader lottery community. With block chain technology serving as the bedrock and with intelligent contracts, the lottery industry can be decentralized in the first place. This would nullify the raison d’être of a third party in the lottery gaming houses.
As the gaming industry is fundamentally different, and each game has its own set of riles, EGCC will not formulate rules uniformly. Instead, through a decentralized structure, the platform would allow bankers to set their own rules through intelligent contracts and block chain technology. Block chain technology would also be used to encrypt currency, which would ensure the complete autonomy of funds and safety of the users. The CTO of Kelly Chuangfu Club said that the aim of establishing a block chain based gaming platform is to break the national boundaries, and let the users become both gamers and investors.
Aside from creating a platform, Kelly Chuangfu Club would soon roll out its encrypted currency, Lotterycoin, which would be anchored to the dollar value chip soon, informed the CFO of Kelly Chuangfu Club. Kelly Group, which has its forte in lottery business, and has also forayed into other industry segments, such as aircraft manufacturing, in the past, also owns Cambodia’s largest gaming house. Kelly Entertainment City is the most comprehensive lottery house in Cambodia’s and the largest single lottery industry in Southeast Asia, with an estimated daily turnover of more than 500 million Yuan.
The CFO of the company stated at the recent press conference that Lotterycoin would soon become the mode of payment for both online and offline lottery as well as offline brck-and-mortar retailing, and the price of the coin would stabilize at USD 1.
“Even in the brick-and-mortar market, the encrypted coins issued by EGCC would have a considerable holding value. Our ultimate objective is to list the coin in hong Kong exchange”, the CEO of Kelly Holding Group told the press. “The gaming industry in Macao has an stable market prospect. In the last year, the industry size reached 554 billion USD, but the global industry stood at just 47 billion USD. We are confident to solve the pain points of the industry through the power of block chain technology, and the online lottery would industry will become bigger than never before”, said the CEO of Kelly Holding Group.
Kelly Chuangfu Club now aims to create an integrated ecosystem which would consist of offline gaming houses as well as EGCC’s Taobao’ platform. The ecosystem would also have links with other ancillary industries, such as catering, leisure, residential and shopping. Through a close-loop operation of the lottery ecology, the loyalty of investors can be increased. The CEO of the company added that the group believes that the closed loop would create a stable investment appreciation environment. He said that investors can make more money from the platform with time.
About the Company
Kelly Holding Group is a Cambodia based business group.
To know more, visit http://klwealthvip.com