KIBO Taps Blockchain to Improve Lottery Competitions

A promising startup has plans to eliminate the limitations of an otherwise famous and entertaining social game, the Lottery.

KIBO, as the company is titled, places transparency, openness and fair play at the top of its core agendas. While their sales-pitch might draw similarities from other companies, KIBO actually manages to hold attention for its implementable plan: To build a flawless Lottery platform on the top of Ethereum, a public blockchain-based platform featuring smart contract functionality.

Ethereum’s Smart Contract technology, according to KIBO, could actually be tapped to resolve the prevailing shortcomings of the Lottery sector. The Lottery rounds being conducted around the world these days can neither guarantee a 100% fair draw, nor easy-to-access payment methods. Even the winnings that are made by these social games get squeezed by national laws.

This all takes place even when Lottery (or Lotto) is one of the most emerging gambling practices around the globe. KIBO only plans to eradicate the aforementioned problems by launching a 100% accessible and transparent lotto platform. As mentioned above, the platform evidently makes use of smart contracts to ensure that gambling rules and conditions remain transparent and fixed.

“KIBO is built on blockchain technology and makes use of open-source smart

Read more ... source: NewsBTC USA