The first ever decentralized Blockchain and Ethereum smart contract-based lotto will launch a crowdfunding sale campaign on October, 1st, 2016 to ensure a rapid and wider presentation of the platform onto the market. Singapore-based KIBO is built on blockchain technology and uses open-source smart contracts whose logic and algorithms are available to anybody who wants to out any transaction, draw or lottery. The gambling rules and conditions are hard-wired into the architecture of the KIBO smart contract to ensure complete transparency of each lottery and a 100% guarantee of fair play. Once in motion, the network cannot be changed, doctored or deleted. Since more than 50% of the population in developed countries play lottos on a regular basis, KIBO LOTTO is offering a new approach to the organization and holding of lottos such that has eliminated key shortcomings in the most popular social gaming entertainment on earth. It uses new forms of e-money such as bitcoins, ether, and other stable cryptocurrencies to make access to the online lottery truly global and not tied into any local financial system. It is the first international lottery to be played by residents of countries where there is no banking infrastructure but have access to the Internet. Its smart contract logic makes payments automatically with no intervention from third parties and reduced the time needed for prize collection to a few minutes after the draw, which could be up to several years in some countries. The KIBO Lotto platform will be translated into 14 languages, has an intuitive interface and contains a series of the most popular types of lotto on European and Asian markets. A trial will be possible soon with the alpha version of the platform at http://kibolotto.net . During the coming crowdsale, KIBO is attracting funds and building a network […]
