The first decentralized smart-contract based lottery, KIBO Lotto, whose ICO is planned forOctober 1, has published a video review of the gaming platform. This 90-second video shows what the KIBO platform gaming interface looks like.
An Overview of the KIBO Lotto Interface
The project has been in development since June 2015 and the gaming platform is scheduled to launch by late 2016. KIBO is a platform where you can launch your own lotto. Using smart contract-technology, the KIBO team plans to offer a new format for existing social and entertainment games. They also intend to introduce a universal global lottery to the market. The lottery market is one of the largest in the world, with a turnover exceeding $284 billion a year. This is ten times bigger than the movie industry market.
To quickly spread in this huge market, KIBO is implementing a unique marketing strategy aimed at quickly attracting a large audience all over the world. KIBO is a platform for launching independent branches that will operate within a single lottery. The KIBO team are convinced that they have developed an off-the-shelf solution for the efficient management and development of lotteries for anyone who wants one. The platform is currently undergoing final testing. To launch a branch, you won’t have to design your own games or maintain a team of technical specialists. KIBO offers an off-the-shelf turnkey solution, including marketing promotion tools. The branch’s terms and conditions are written in the smart contract, which means that nobody can change them. In other words, the KIBO team want to launch the platform, so that everybody can be confident that they will have their own lotto with unique advantages and won’t have to worry that their account might be blockedtomorrow and that their player base will change hands. The number of such platforms will be limited at 20,000 – and they all will be distributed within the ICO which starts as early as October 1.
It is quite clear that the smart-contract based lottery could offer several advantages that, until now, have not been available to international lotteries. These include complete fair play and transparency of each draw, as well as accessibility from any point in the world.