Hello dear blockchain-community!
Today we would like to present you KIBO - the first decentralized online lottery based on smart contracts of Ethereum.
A few words about KIBO:
First of all, KIBO is a representative of the new generation of the most popular and acknowledged social and entertaining game in the world - the lottery.
Being inspired by blockchain technology and its key features - like security, transparency and a new type of user interaction based on smart contracts, where “source code is law”, - we started working on the KIBO platform in June 2015. Having joined the forces of our team, we saw a possibility to introduce global changes to the most popular social-entertaining game on Earth.
What is the loto today
Up to date, almost every country has its own national and commercial lotteries. Lottery is the favourite national pastime. It ranks the first in market volume among entertaining social games around the world.
On average, more than every second man in the world plays bingo on a regular basis. Despite the game’s popularity, players are concerned about a number of highly important drawbacks the game still has.
Our main goal as KIBO dev team is to release the first international lottery, which eliminates all the weaknesses of the traditional most popular social game in the world.
At the heart of KIBO lays a distributed blockchain database of the Ethereum computer. This has made it possible to create the first decentralized lottery, and to exclude all of the major disadvantages that players around the world have to face today.
Fully transparent platform and a 100% guarantee of fair play
Today the player has no possibility to verify the honesty of the draw. De-facto users have to believe the organizers on the say-so. Now there is no need to trust the organizers of the lottery, whose intentions you can never predict. The underlying the KIBO platform blockchain technology can completely eliminate manipulating and cheating with the results of the draw. Smart contracts provide full transparency of all processes within the platform and guarantee a 100% fair play.
Access to the game from anywhere in the world
Limited accessibility. Physical draw tickets require extended logistics and a retail network roll-out. Using the new forms of electronic money, such as Bitcoin, Ether and other stable cryptocurrencies, this is the first time we can make the access to an online lottery truly global. KIBO is the first international lottery, in that anyone can easily take part - even the representatives of those countries, where there is no banking infrastructure. To start playing, you need only access to Internet.
Instant payments of any amounts
Today, payments of any bonus payouts in lotteries in different countries may require up to several years to be fully transferred to the winner’s account. Besides, they are accompanied by all sorts of commissions. KIBO changes payout speed. Now, when you win in KIBO Lotto, you instantly get your prize. No matter the size of payout or your geographical location, the money is transferred to your smartphone within minutes right after drawing.
By eliminating all the drawbacks, we see a platform that lifts the lottery market to the next level of evolution.
Decentralisation and development
The launch of KIBO bases on a simultaneous start of thousands of independent KIBO units all over the world that are integrated into a universal game platform. The system of KIBO is built on the principle of a New form of decentralized organizations. This means that we have no single tech center that could knock out of service the whole platform in case of breakdown. This is the first time social games will evolve as a collective ownership.
KIBO is the platform that allows everyone to join the network at start and run own lotteries in one click.
How to tell the world about KIBO?
Today, the main problem for any service or product is to attract a large audience at the start of the project. We realized this problem from start clearly, so we made its solving one of our priorities.
From the beginning of our journey we did not only work on the source code, but also invested much time and effort into marketing. Our team did a great job popularizing the concept of the launch of the KIBO Platform across the world. Today we have partners in more than 20 countries, including China, UK, USA, Brazil, Australia, Russia, Spain, Portugal and India.
The number of the KIBO Platform owners, who will already take part in the launch, is more than 2500 people. These are people, who have a direct financial interest in the success of the project, and they share our ideology and expectations for KIBO.
As result of the first business development activities we already managed to collect 94538 ETH (account: 0xe0535bd89676e254ea80c987082afb597a7fdde9) that we are going to spend on KIBO’s realization and on first marketing campaigns. The goal of our promo activities is to help owners of the platform quickly attract first and standing customers. We believe that this will be a powerful impulse for global KIBO’s audience growth.
KIBO’s growth is based on the principle of rewards for every client that attracts new users to the platform. Using the system of recommendations, you can highly increase your winning chances. The platform automatically encourages you by paying you shares of prizes of players that you have attracted. A single recommendation enables you to constantly receive rewards - shares of prizes from every player you invited.
We have tested this mechanic in January, 2016, on KIBO’s network. The results exceeded all our expectations. This gives us reason to be optimistic about the upcoming global launch of the platform.
What comes next?
In Autumn, we plan to start the ICO of KIBO tokens. This way we want to attract additional funds to scale, develop and implement new marketing activities.
Another major task is to give every interested client a possibility to join KIBO and to launch his/her own lottery on the base of the platform. By growing the network of our partners, we plan to become an even more decentralized platform. We want to broaden the geography of our partners and clients to enter new markets as soon as possible.
We are now in the final dev stage, and the corresponding interface is already running. Now comes the testing and refinement of our source code.
We plan to complete the tests and full functionality this Autumn. Then we will open KIBO’s gaming platform for the first users - for those who share the ideas of honesty, transparency, accessibility and anonymity, and who are just like us inspired by the ideas of new technological products.
In the coming weeks we will launch our new website and publish the tech documentation so that any interested person could find out more about the concept of KIBO.
Join our social media and follow the latest KIBO news on #facebook (KIBOPlatformOfficial) and #twitter (@KiboPlatform). Read our blog on #Medium (@kiboproject) and ask your questions here below the post.
Wish you good vibes.
Stay tuned.
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