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Macau: In the movies, gambling in casinos is shown to be a very elite world, with men in dapper suits, intimidating bouncers and beautiful women serving caviar.
However, in real life it is all that and so much more than that! Dragon, an ICO based in Macau, China is all set to change how gambling is looked at and is all set to streamline this exciting world on the blockchain.
Dragon Coin, or DRG, is an ERC20 / Ethereum Utility token used to participate in the Dragon blockchain ecosystem. DRG tokens will initially be bought through our token sale, and thereafter on cryptocurrency exchanges, by investors & casino players in order to participate at Casinos using Dragon’s Blockchain facilities managed by Dragon partner junkets.
The public crowdsale is now live.
What is the difference between Dragon Coin (DRG) and Dragon Global Chip (DGC)?
DRG is a utility entertainment token, which holds value, tradable on exchanges and used by high rollers to access the Dragon junkets and affiliate partners. Whereas DGC is a casino and VIP room-only token pegged 1:1 with the Hong Kong dollar to ensure gamer are protected from market volatility and have peace of mind when playing. DGC are not used anywhere outside Dragon Junkets.
It is a testimony to the solubility of the company that it has managed to raise around $320,000,000 which makes it the biggest crowdsale to date. Although there was a marked price increase after a certain number of tokens were sold, the company offered a discount on the trading price plus a stagger lock up so it reduced the effect of the pump and dump that damage so many other ICO supporters.
Chris Ahmad, the Chief Executive Officer (CEO) said, “We have really looked at how we can be socially responsible.”
Although the ICO primarily does cater to the high fliers, they have been listed on two exchanges and are currently in talks with 15 top cryptocurrency exchanges. Not only that, they are also working non-stop to set up their own Dragon exchange. It’s a testimony to how-hard working the team is, despite having raised more money than their intended hard cap estimate!
On being asked how the company plans to make gambling costs more pocket-friendly through blockchain, Ahmad said, “So the current system is good. However it takes time and costs between some 5-12%. We are able to reduce these costs using the Dragon Blockchain platform to 0.5% transaction fee going in and 0.5% transaction fee going out. These savings are passed on to both the casinos and the high rollers which will enhance the entire eco system.”
The company has some very solid plans to fruitfully utilize their funds once their public sale ends. A balance needs to be placed with casinos and junkets when high rollers play then they will know there are funds in place to cover the actual game. This will take up a large portion of the money which is being replicated across several other ASEAN countries.
The company also plans to set up their own Dragon Exchange, Wallet and cards along with deploying 500 Crypto ATMs. Apart from that, they have several gaming related JV coming into play and there will be more news on this.
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