Jimei International’s former CEO Kennis Wong decided to take casinos to the next step of evolution in Macau. He is currently the head of another Macau-based company, and he plans to make the first casino that will operate entirely on the blockchain. His idea is to create an Initial Coin Offering (ICO) and raise a total of $1 billion for that project. The name of the company is De Club International Company Limited of Macau, and they already have a whitepaper that explains it all. They claim that they will improve the overall trust of the customers and speed up the lengthy payment processing that is currently being a real problem in the online casino industry.
They plan to cooperate with another company from Malta called Wide Rich Global Company Limited. They will issue a total of 20 million tokens that will be called DEC tokens. The tokens will be the primary means of funding De Club. Furthermore, they plan to acquire a junket promoter license in Macau along with a couple of land-based casinos. They do not intend, however, to focus only on the casinos from Macau. According to the whitepaper, 35.5% of the collected funds will be used to acquire casinos and licenses. Furthermore, the company stated that DEC would be a type of token that is backed by cash and can be converted to various fiat currencies. DEC will be the first coin that will fuel the blockchain-based casinos, which will also be integrated into land-based casinos. The first prototype for their idea is expected somewhere in Q1 2019, according to the whitepaper. The date set for the pre-sale of the tokens is November 15.
The original idea is to base DEC on the Ethereum platform and use the ERC20 standard, but officials stated that they were open to other options should Ethereum become the reason for congestion and slower transaction processes. At the moment, BCH (Bitcoin Cash) is being explored, and it might become a better possibility for projects in the future. There will also be a DEC App that will allow those who hold tokens to be hosts of their online games. The white paper adds that they will design a mechanism for crowdfunding using smart contracts and that those who host games will be able to earn money. Finally, they hope to acquire an offshore bank that will allow them to include more cryptocurrencies into their system with a payment network that will be a part of the DEC ecosystem. The future of casinos is connected with the blockchain technology – it’s inevitable that the two will combine and lead to new trends. We only need people like Kennis Wong who will accelerate the process and enhance the gaming experience of casino lovers all around the world.
