The dragon is a creature known for its good luck in the Chinese tradition. People born during the year of the Dragon are known for their ambition and dominance. It is the mightiest of the Chinese zodiacs. It was a no brainer for the company, Dragon, to select this name. They have an unrivaled ambition to shake up the current state of casinos. Many are doubting if Dragon will achieve its target of half a billion dollars to implement the plans it has but just like the dragon, Dragon is marching on to changing casinos and the gambling industry.
Human beings constantly need change to keep our lives interesting and to make our lives much more simple and efficient. Change is however something difficult to accept especially when we are so used to our set activities. The current system that runs most of the internet programs are centralized systems that we are very much accustomed to and comfortable with. Changing to a decentralized system will take some time to get used to but its promises are worth the few minutes of discomfort. Decentralized systems came as a result of the invention of blockchain. Blockchain allows the storage of data in multiple blocks across a network. Within this network, data is held in every computer such that deletion from one computer will not affect the other. Manipulation of data within this network is made harder thanks to this. Addition of any information in a particular block depends on the members of that block. There is a quorum required for any data to be added in a block. Members of a block are usually anonymous to prevent any favoritism. The selection of the validating members is done randomly to increase the transparency and security in the network. Blockchain is a platform that relies on your online reputation to determine your credibility.
Dragon is based on the Ethereum blockchain. This blockchain has been used by a number of companies and its success has been commended. Dragon is using the Ethereum blockchain because developers can build their own smart contracts. These smart contracts are essential in any network that transactions are involved. Developers can dictate the terms required for any transaction to take place within this platform. It helps create a sense of security in whichever platform it is applied. Transacting parties are assured that their terms will be met before goods are released or payments are made. Smart contracts can also act as a store for these transactions carried out and can be relied on to provide accurate data if needed in the future. A powerful name requires a powerful system to back it up and the Ethereum blockchain is powerful enough to support Dragon.
Dragon has noted problems within the casino industry that it can solve. The major problem is with junkets but it is also observed in the regular gaming areas within casinos. Junkets are not considered part of the casino, although they are physically in the casino, as they are run by a different team. Investors pull funds to attract high stake gamers to participate in these junkets. The way junkets are run is also different from casinos. For any game, junket operators contract their agents to identify a specific caliber of player who can participate in their games. Players can also send their agents expressing their interest to participate. These agents then connect the junket operators to the gamers and pass information regarding details of the game. The junket operators provide more than just gaming for these gamers. The gamers themselves are not ordinary. Most of them are VIPS as the stakes required in one of these games is too high for the normal gambler. Complementary services such as accommodation and transport within the city the junket is located are provided by the junket operators. The problem arises when money transfer is involved. The winning player loses about 10% of the money just on frictional costs. Agents usually get at least a 5% cut of the amount being staked and another 5% incase their client wins and the winnings are sent through them. Bank fees also apply as money moves between accounts. These are really high figures that Dragon believes it can reduce greatly through its token program.
Casinos also face the age-old cliche that casinos and money laundering are inseparable. Hollywood, through its movies, has created this idea in our heads. In most cases, casinos are usually the victims. Their business provides a suitable environment for money launderers to ‘clean’ their dirty money. The anonymity in casinos also attracts these launderers as tracing them becomes difficult. There are many regulations that have come about to try and help casinos fight this menace but they are still at risk from those who know how to bypass these systems. Dragon will use existing technology and regulations set up by the concerned bodies to discourage money laundering in the platform it is building.
The token program Dragon is set to introduce is meant to reduce as much as possible the frictional costs that arise as a result of currency moving from one owner to the next. Two digital tokens will be introduced in the Dragon platform, the DRG (Dragon Coin) and the DGC (Dragon Global Chip). The DRG is both a value and utility token in the Dragon platform. The DGC is only a utility token. The DRG will be managed by smart contracts provided by Ethereum. Reducing these frictional costs will involve purchase of the DRG. DRG can be purchased during the token generation event or from individuals who had purchased the DRG and are selling them. Purchasing DRG will mean that you will be able to transfer funds anywhere in the world without having to pay any bank fees. A small transaction fee may be charged but will be nowhere near what banks are charging and the convenience will be unmatched. There will be a digital wallet named the social wallet which will be used for storing DRG. It will also be used as a mini forex exchange where cryptocurrency and fiat can be transacted at great rates. The social wallet will be available in the major app stores where users can download them on their smartphones. Having a bank and a sort of forex exchange at such a convenience is part of Dragon’s goal. DGC will be stored in this wallet as well. DGC can only be exchanged for DRG. Once this is done, it cannot be traded back. The DGC only becomes useful in purchasing non-negotiable chips in casinos that are working with Dragon.
Dragon envisions a smooth system in junkets and casinos. Player will just need their smartphones to participate in any game of their choosing. Instead of agents receiving commission from players and casinos, players will transfer cash safely through DRG thereby reducing frictional costs. Non-negotiable chips will be acquired quickly through the trade of DGC in casinos. Players will have the chance to request for more chips in the middle of a game with less hassle compared to the existing system. Winnings will be paid through any currency the gamer chooses. Dragon seeks to create a platform that will cater for all.
These services themselves will not be enough to create a convenient system. Dragon has a number of plans that it seeks to implement. The Dragon debit card is one of them. Dragon will link this debit card to your Dragon account and allow you to do what your normal debit card does. It will make it easier to change from normal banks to the Dragon system. The currency exchange service will still be offered while using the debit card such that if you are out of fiat in your account, you can quickly exchange cryptocurrency or DRG through your social wallet and use your debit card. Dragon will also roll out Global Cash Machines which will provide convenient access to fiat in various Dragon affiliated casinos around the world.
There are currently four junkets in Macau that are running the Dragon platform. Dragon chose to start implementing its program on junkets rather than casinos because it offers a better environment for observation and study of the Dragon system. Dragon is banking in success of its program in these four junkets so that they can have witnesses to their industry changing program. It is also planning to build its customer numbers through this program. Users who will have experienced the Dragon service in these junkets will more readily accept a Dragon born junket or casino and are most likely to advice their gaming partners to join in the Dragon community. Dragon is planning on opening its own junket. It has already started licensing processes so that it can be legally operational in Macau. This junket will also be a way of increasing the customer base. They plan to do this by changing the operations of junkets as traditionally known. Those who would want to participate in these junkets will not need to register with the junket as it is currently. Dragon will require them to seek for membership within their community to be able to access these services. Once an applicant has been verified, then they can participate in these junkets at their own leisure. This will encourage more people to participate as many hurdles will have been removed. Dragon also seeks to make junkets available for more people by providing junkets tat accept lower stakes than the current ones do. This will tap into a market that is willing to participate in junkets with lower disposable income.
Registering for participation in Dragon junkets or casinos will require users to fill out the Know Your Customer forms. Dragon wants a transparent community that will be there to enjoy the convenience of Dragon junkets and casinos and the entertainment they have to offer. Money laundering and any form of fraud is discouraged by Dragon and that is why every member will have to be traceable. There are anti-money laundering requirements that will also have to be met by each individual. Information submitted will be safely stored using the Ethereum blockchain hence members will have no need to worry about their data.
DRG is a value token. Dragon plans to ensure that its value is always greater than the initial ICO value. Dragon will only produce 500 million of the DRG. This number will only decrease overtime as Dragon plans to purchase some that leak outside the Dragon community and burn them; decreasing this supply will most likely lead to an increase in value of the DRG. There is also a possibility that not everyone who wanted to purchase the DRG will do so during the token sale. Once the token sale is over, the unsold DRG will be burnt. The unlucky population which was not able to purchase DRG will probably be the initial cause of the increase in value of DRG due to the demand they will create. Dragon will further this cause by having a restriction period where certain DRG owners will not be allowed to sell their DRG for a specified time period. The crowdsale is in the last days of the last leg. Dragon wants willing visionaries to help them start and see through this revolution within the gaming industry.
The funds that will be collected from the token sale will go directly into developing the Dragon platform. Proceeds that will be made from DRG will be used to help Dragon become self-sustaining in its daily operations. Part of the proceeds will also be used by Dragon to participate in projects that will help build the community for a better future because nothing can be done without the community.
To be part of the team that helps Dragon achieve their aims and be handsomely rewarded, while receiving answers to any questions you may have please follow any of the links below.
Website- https://tokensale.drgtoken.io/
Whitepaper- https://s3.amazonaws.com/drg-token/Whitepaper-Dragon.pdf
Telegram- https://t.me/joinchat/FSgY4RI3tNfalmD2sbIZRg
Facebook- https://www.facebook.com/dragoncoin.online/
Twitter- https://twitter.com/dragoncoin?lang=en
Author BitcoinTalk username- CryptoLad123
Profile Link- https://bitcointalk.org/index.php?action=profile;u=1859421;sa=summary