Why the gaming and betting industry will be changed forever
Why the gaming and betting industry will be changed forever
Legacy gaming and betting platforms are losing trust because of cheating and greed.
Million dollar cheating no more
The current legacy gaming and betting platforms, in the $3 Trillion industry, have done little to protect their users. Cheating in the gaming and betting industry can lead to millions lost as seen in the image below (Figure 1). [1]
Figure 1
Cheating will be no more because of platforms known as decentralized autonomous companies (communities). These companies are "decentralized" so there is no central point of attack for hackers. They are "autonomous" since the user base, and the platform itself, maintains the network. This is based off a new technology called blockchain technology, which will bring PROVABLE fairness to the gaming and betting industry. Provable fairness through blockchain technology is accomplished by encryption, and verification by the network of its users. The verified transactions and bets can be re-verified by any user, at any time. Those are the same reasons why some of the largest centralized companies in the world like (IBM and Microsoft) are using similar blockchain technology for security, and efficiency, purposes.[2] In the gaming and betting industry, the top contender to utilize blockchain technology is a platform called Peerplays. The world's first provably fair blockchain-based gaming platform using the blockchain technology to prevent cheating, and will include many more innovations.[3] One of the other innovations that Peerplays will have is profit sharing.
Profit Sharing
Not only do the legacy gaming and betting platforms not protect their users, but they also do not share the profits made off that same user base. The gaming and betting industry is again, worth trillions of dollars, so there is plenty of wealth to be shared. Peerplays will treat its user base right, by making profit sharing one of the major incentives of its platform.
The infographic below simply explains the profit sharing, through Peerplays (Figure 2).
Figure 2
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Again, go to https://www.Peerplays.com to learn more and invest to also receive the benefits as a core token holder.
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@Peerplays https://www.peerplays.com/ #Crowdfund #Contest #BeyondBitcoin #Resteem
Peerplays Crowdfund Contest
I'd have the fun on Peerplays with several people @Peerplays @ned @dantheman @dollarvigilante
[1] Jay, P. (2015, April 16 ). Retrieved from http://www.theage.com.au/sport/global-sports-betting-worth-trillions-united-nations-conference-told-20150416-1mmn9y.html?stb=twt
[2] Acheson, N. (2017 , March 27). Retrieved from http://www.coindesk.com/ibm-vs-microsoft-two-tech-giants-two-blockchain-visions/
[3] Jonathan Baha'i, Michael P. Maloney (2016, May). Retrieved from https://steemit.com/peerplays/@peerplays/peerplays-whitepaper
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Hi @markvonmises, I am very interested to learn more about peerplays.
When is the primary crowdfund due to close and what benefits do you get from joining at this stage?
Great question @eroche ! This was mainly an article to promote the profit sharing, so it does not go in depth about the crowdfund itself, so please send any questions you guys have about the crowdfund!
To learn more about Peerplays watch this or read this
Just on the current funding, it says there was 4m already pledged, is this separate from the crowdfund target of 5m. I am curious to know whether I have much time left to consider investing or whether I need to hurry.
It would also be great to have some more info about how to make an investment. You need to have bitcoins stored in a wallet, where you have access to private keys. Would you be required to give these keys as proof of ownership or how would that work?
@eroche Yea, sorry it hasn't been made clear, I would make a video series myself to make it a seamless process if I had the time. What you suggested is similar to what bulletin says though:
"Receipt of PPY Tokens
Upon completion of the Primary Crowdfund, and launch of the Peerplays blockchain on 30 May 2017, all PPY Tokens distributed as a result of the Primary Crowdfund may be unlocked and claimed from the Peerplays genesis block. To unlock and claim PPY Tokens, each donor must upload the private key from the Bitcoin account from which the donation was sent into the donor’s Peerplays digital wallet."
As for the US$4 Million donation
They released their bulletin on the 21st of February stating US$5 Million, but the strategic donations of US$4 Million dollars were stated before on the 17th. Because of that its seems that the US$4 Million is treated separately. Also, on the crowdfund page the price is still at US$5 so that matches the US$0-US$1 Million tier of token prices. I've added a screenshot of the crowdfund pricing tiers info on this webpage.
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This link seems to go into a lot of specifics.
http://www.peerplays.com/docs/Peerplays_Bulletin-Feb_2017.pdf
According to that document they have raised 0.5m from a seed crowdfund last year
4m from private donors this year
and are looking to raise 5m more with this primary crowdfund
@eroche Yea thats the link I provided earlier, not sure if you saw it
"To learn more about Peerplays watch this or read this"
The US$4Mill is seperate as represented by the current price of the token at $5 as I mentioned, so at this rate it seems like you will still have until May the 14th which is good news if you need to wait!
Thats great thank you. I was looking to see how much had been invested already. Thanks for this post. Great info. You have gotten me thinking.
Thanks @eroche !
The only reason why it's changing is because of Money. They want more money than ever. Sad Truth.
Hi @rhyankulets I understand your concern, but Peerplays has shown to reinvest by hiring more talent or refining/adding features to their project. They give updates on @officialfuzzy 's podcast Beyond Bitcoin if your interested.
Groundbreaking projects like this typically require a lot more money then what Peerplays has been given, and are asking for. Many blockchain projects also received more with a less clear path and did not create a product, at all, or in the short amount of time that @Peerplays will have.
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