IoT Security Institute
Welcome
Login

ONLINE GAMBLING WITH BLOCKCHAIN TECHNOLOGY--BY SICHEN FANG

Thanks! Share it with your friends!

URL

You disliked this video. Thanks for the feedback!

Sorry, only registred users can create playlists.
URL


Added by IoTSIMedia in Blockchain
212 Views

Description

Script is provided below

The project is about launching a online gambling platform built on top of Ethereum blockchain technology. The organisation I’ve chosen is Tabcorp Holdings Limited (Tabcorp) ,a leading Australian gambling entertainment company
This licensed company also allows people to place bets online for convenience, so that this online betting firm would be suitable for this project.
The audience would be David Attenborough, he is Managing Director and Chief Executive Officer of tabcorp. After conducting research, he doesn't have much background in blockchain but he has master degree of business so this should be helpful for further diccsussion. But during the presentation I’lll be using a simple way to briefly explain my project.
The online gambling industry is growing and expanding every year. The global online gambling market is expected to grow exponentially to bring future economic inflow. In order to obtain these future benefits, new technology shall be considered to be adopted to attain more market shares. As Bitcoin becomes the most famous cryptocurrency, Blockchain technology also gains a lot of popularity and traction. The blockchain era has arrived and it is a good time to make some innovation in our online gambling industry.
Gamblers who use online gambling sites would like to play on a fair platform, but many online betting websites in the world are not playing by rules. Though tabcorp is a safe and fair place to play, potential customers who don’t trust those centralized gambling system are still prevented from using the websites.
In order to gather more people to becomes loyalty users of tabcorp, the combination of online gambling and blockchain technology is a good way to address problems with centralized gambling system.

The new betting platform developed by tabcorp built on top of Ethereum blockchain. With the adoption of the concept of “smart contract”, which is a digital agreement between parties whose terms could be enforced by computers, this would benefit both game creators and players with enhanced transparency and security. there is no ambiguous about the rules, as they are clearly legible to all parties and instant payout is guaranteed. Moreever, customers can also create their own betting format depends on their preferences. Therefore, gamblers are willing to play the games on our platform.









At this stage, you are probably wondering how our organization will make money by launching such project. Well, firstly, developing such platform is far more cheaper than running so many retail betting places. This would allow the organization to save huge amount of money on labor costs and rent expenses. Secondly, The organization can also partially transformed to “betting consulting firm” to provide service to customers to make money in another way. Lastly and importantly, betting is a game of luck and skill. Tabcorp is the “house” of the game, we can also be viewed as “gambler” of this platform, this means that players who are less skilled or with badl uck than others will easy to lose, so the house will win.

This is just a broad concept of this project, the benefit of transparency from the ethereum powered by blockchain technology create a win-win opportunity for both our organization and our customers. This blockchain-based online gambling should result in future economic benefit and the innovation of this new method of betting can be something to rock the gambling industry.

Post your comment

Comments

Be the first to comment
RSS