While most large companies are going in the next few years to implement a form of Blockchain, the benefits of technology are particularly important in certain situations. As Multichain's Gideon Greenspan said, for a Blockchain project to be really useful: "you need a database of transactions for multiple writers who do not trust each other and no middleman can not be found, there are interrelated transactions and validation rules. "

Insurance is an example of a perfect industry for smart contracts, for example, but it There are many areas that lend themselves to Blockchain features.Kibo Lotto, the Blockchain-based technology company, has identified ways that Blockchain is perfect for improving lottery business.

Kibo Project Builds on a distributed network of independent affiliates, whose working conditions, along with the entire gaming process, are guaranteed by the smart contract.This allows affiliate owners to organize r potential player traffic without fear of being deprived of this audience by the request of the resource owner, and it is one of the most exciting questions for any affiliate partner in the game. From Moreover, he does not have to worry about blocking or modifying the commissions of each ticket sold, since all the conditions of possession of the platform, including the charging commissions, are recorded in the intelligent contact and can not be changed. All this greatly increases the loyalty of Kibo's partners, which in turn will contribute to the rapid growth of the game base.

KiboPlatform is a platform through which every owner has the opportunity to develop its own lotto with a completely ready infrastructure

With regard to the gaming process, the execution of all operations is also guaranteed by intelligent contracts, which completely excludes the possibility of External interference in any gaming process. For the average user, this provides a fully transparent and 100% fair lotto game with instant prize payments of any size to any location. in the world where there is internet access.

Kibo believes that the lottery is perfect use case for Blockchain, allowing a lottery more transparent, easier to use and easier to get your winnings.

In recent months, the Kibo development team, among others, has sought solutions to optimize contracts and has followed all existing technologies in the early stages of development for possible application in the launch of Kibo. Earlier, they shared the reasons for the delay of the launch, especially on the Ethereum network problems.

At the end of November, the team reported on her blog that she was able to design a solution that, in preliminary tests showed a significant reduction in gas costs in the contracts. Now they are busy implementing this concept and refactoring the code. The developers hope to launch the first version of the platform for a limited number of users in the first quarter of 2018 there are no unforeseen circumstances. But a global launch will always be possible only after solving the extensibility issues by the Ethereum team.

"On the basis of the current situation, where we can not predict the exact date of a large-scale launch of the platform for reasons beyond us […] our team decided to take an unprecedented step and do the following: We decided to distribute some of the funds belonging to the team among all our partners. "

L & # 39, Kibo Lotto team launched the fund distribution plan to all investors, KIBIT token holders and KiboPlatform owners, an amount of investment in US dollars at the time of the ICO with an additional double rate.

The total amount of the funds distributed is about $ 13 million

"The distribution plan does not affect in any way the development of Kibo. […] All chips and platforms in full and without any changes will remain with the current owners. The decision to distribute part of the funds belonging to the team was made solely from the personal considerations of the team working on the project, so that our investors can wait for the launch of the platform, from today, without more risk for themselves. […] And of course, we see this as the best opportunity to thank all those who supported us at the beginning of the road and continue to support, despite the fact that we have faced problems whose solution does not depend on our team.

This is a nice Christmas present for Kibo investors.The fact that the team has an open and transparent approach to development can be a good step for the flat -form, which also undoubtedly demonstrates confidence in their future launch.

Eoghan Gannon