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Decentralizing Lottery through 'TrueFlip' with Blockchain Technology
Most of the countries in the world have local lottery that is running nationwide with the government's supervision to make fortune to its winner and also an annual income to a certain percentage that the lottery is taking to every people that is betting in every single ticket.
Can you imagine a lottery that is running worldwide with a decentralize technology in an open source code, transparent prize fund and no government jurisdiction that is taking part with the winning prize.
True Flip ICO(Initial Coin Offering) started on June 28, 2017 and will end on July 28, 2017 exactly 1 month span of selling their 21 million coins just like the Bitcoin's maximum amount of coins and after the ICO ends the coins that remains unsold will be burned and share of all token holders will be proportionally increased.
As True Flip mission that Lottery is only interesting if there is a big jackpot so they used the Blockchain technology just like what Bitcoin did in able to attract the whole world to invest into their ICO.
If you are aware to the 'Powerball powerplay' it is almost the same with the True Flip's lottery as you can see because True Flip lottery is inspired by it, the only difference is that you can bet wherever, whenever you want with True Flip lottery system plus it have a blockchain technology that Powerball don't have.
Conclusion:
For me True Flip's Idea with the modern technology of lottery is the future of lottery because using a blockchain technology with it will make it just like Bitcoin. Being transparent to the people who uses their system is so great and operating world wide will get them big prizes combining different countries and people. Success will follow if they continue developing the trust and their technology.
Nice, Post about the lottery my friend.
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