Home Cryptocurrency High Stakes International Gambling Is About To Get Its Own Cryptocurrency [Infographic]

High Stakes International Gambling Is About To Get Its Own Cryptocurrency [Infographic]

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Today it seems like cryptocurrencies like Bitcoin and a few others are in the news all the time. We hear that some are good investments and others are bad investments. At times it seems like there are to many of these digital currencies to keep track of them all.  That being said some companies are using blockchain technology in innovative ways that can revolutionize certain industries and these are worth paying attention to. One such company, called Dragon Inc, is planning to use this tech to change the world of high stakes international gambling and possibly online gambling.

Around the world, in places like Macau high stakes gambling is a huge industry. Hundreds of high rollers travel to places like Macau in order to gamble with millions of dollars at a time. But this creates a simple problem. Getting millions of dollars to the table can be expensive. Typically, privately funded rooms in these casinos, called junkets, handle the whole operation and end up charging 5-7% for their services. That can be a lot of money that the players don’t get to gamble with but, for now, that’s just how these things are done. The people at Dragon Inc. want to offer everyone involved a better and possibly more secure option.

Their plan is to use a cryptocurrency to make things easier to handle for junkets and players. Players can simply buy into the digital currency and acquire tokens. Then they travel to their casino of choice and enter a participating junket. Once there they can exchange their tokens for Dragon Global Chips on the spot using their smartphone wallet. These chips are used to play the various games in the junket and then the player can turn them back into digital tokens when they are finished and when they arrive home, turn the tokens back into local currency. It all seems simple enough and according to Dragon Coin, it could bring the costs down to about 1%. Which would be truly game-changing. Another advantage of using this system is that the blockchain technology is more secure and trackable, which may help cut down on money laundering and the black market economy.

Kander10 Designs

A company called Dragon Inc is planning to use this tech to change the world of high stakes international gambling and possibly online gambling.

For now, Dragon Inc. is targeting the gaming market in Macau but they are also partnering with 7 Luck Casino in South Korea and&nbsp;talks are underway with very well known online gaming companies. Online gaming has been in some tricky territory since the US passed the&nbsp;Unlawful Internet Gambling Enforcement Act of 2006 which made it difficult for American players to put money onto online poker sites. It will be interesting to see how Dragon Coin plays into that situation.

You can learn more about Dragon Coin here.

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Today it seems like cryptocurrencies like Bitcoin and a few others are in the news all the time. We hear that some are good investments and others are bad investments. At times it seems like there are to many of these digital currencies to keep track of them all.  That being said some companies are using blockchain technology in innovative ways that can revolutionize certain industries and these are worth paying attention to. One such company, called Dragon Inc, is planning to use this tech to change the world of high stakes international gambling and possibly online gambling.

Around the world, in places like Macau high stakes gambling is a huge industry. Hundreds of high rollers travel to places like Macau in order to gamble with millions of dollars at a time. But this creates a simple problem. Getting millions of dollars to the table can be expensive. Typically, privately funded rooms in these casinos, called junkets, handle the whole operation and end up charging 5-7% for their services. That can be a lot of money that the players don’t get to gamble with but, for now, that’s just how these things are done. The people at Dragon Inc. want to offer everyone involved a better and possibly more secure option.

Their plan is to use a cryptocurrency to make things easier to handle for junkets and players. Players can simply buy into the digital currency and acquire tokens. Then they travel to their casino of choice and enter a participating junket. Once there they can exchange their tokens for Dragon Global Chips on the spot using their smartphone wallet. These chips are used to play the various games in the junket and then the player can turn them back into digital tokens when they are finished and when they arrive home, turn the tokens back into local currency. It all seems simple enough and according to Dragon Coin, it could bring the costs down to about 1%. Which would be truly game-changing. Another advantage of using this system is that the blockchain technology is more secure and trackable, which may help cut down on money laundering and the black market economy.

Kander10 Designs

A company called Dragon Inc is planning to use this tech to change the world of high stakes international gambling and possibly online gambling.

For now, Dragon Inc. is targeting the gaming market in Macau but they are also partnering with 7 Luck Casino in South Korea and talks are underway with very well known online gaming companies. Online gaming has been in some tricky territory since the US passed the Unlawful Internet Gambling Enforcement Act of 2006 which made it difficult for American players to put money onto online poker sites. It will be interesting to see how Dragon Coin plays into that situation.

You can learn more about Dragon Coin here.

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