Blockchain tech is a wonderful technology whose applications seem boundless. In the latest development, a Macau-based company will launch a blockchain-based casino subject to a planned initial coin offering (ICO). The project is a joint effort by DeClub.
DeClub is a Macau casino management company working with investment firm, Wide Rich Global Company. Wide Rich operates out of Malta. Particularly, Wide Rich will use the proceeds from the ICO to purchase DeClub. The blockchain company expects to raise approximately $1B USD, Casino.org reports.
Global Blockchain-based Casino
In addition to acquiring DeClub, Wide Rich intends to take over other casinos with the best-earning potential. This is part of a global strategy that could see Wide Rich become a major operator of casinos around the world. Interestingly, the firm will integrate both fully online platforms and land-based casinos, all of which will operate on blockchain.
According to a whitepaper cited by Casino.org, the aim is to create a consumer-centered gambling ecosystem.
“The tokenization of chips, casinos and their surrounding entertainment service providers will be able to build a pan-gambling business ecosystem together, so that people with varying business needs – from tourism to business meetings, to shopping – can all gain easy and cost-effective access to customized and prestigious services on their mobile devices,” the whitepaper reads in part.
Towards this end, Wide Rich will offer a utility token that will facilitate transactions over a blockchain network. Dubbed DEC, the token will also offer “buyers rights to host, refer, and invest in cash lending pools.”
DeClub Utility Token
Further, the DEC token will be compliant with the ERC20 standard since it will run on the Ethereum blockchain network. However, DeClub is open to other alternatives in the event that there happens to be congestion on the network.
Interestingly, users will be able to convert DEC into various legal tenders. According to the whitepaper, the first prototype of DEC will go live in the first months of 2019. However, the pre-sale of the tokens will happen starting on November 15th.
Further, DeClub will create a mobile phone application that will host online games, VegasSlotsOnline.com reports. DeClub will also offer a DEC app for crowdfunding drives through native smart contracts. On top of that, players will be able to play online blockchain-based casino games.
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