This ICO was brought to my attention by a good friend. To speak the truth, I have no knowledge about how a casino work and the science behind it. But being one of the wealthiest industry in the world, I decided to find out more.
To Find Out More
The White Paper for this coin can be found here. Dragon Global Coin Whitepaper: https://s3.amazonaws.com/drg-token/Whitepaper-Dragon.pdf. The information is actually technical and also a bit far fetched for me to understand because I hardly go to casinos and know the mechanics of it all. It is also the first time I am getting in touch with the word Junket.
Fundamental
Most ICOs are set to solve a problem that normal channels of fiat money cannot support or to allow a faster way to get a problem solved through block chain technology. In general, the block chain technology is able to solve many transactions quickly and in a transparent manner.
For Dragon Global Chips it aims to solve the fees that high end players that comes to Macau for a game and the preparation fees which the junket ( or the operator that arranges for these high end players to come to a casino for a game). The high rollers deals with amounts at stake in millions.
The Junket need to arrange for millions of dollars to be available for their clients before they arrive to Macau, the current fees they need to incur is 5% and on the high roller side, there is about 5%-7% costs related to repatriation of their winnings.
With the Dragon Global Chips, it is now able to cut low these costs for both sides and thereby saving up on the transfer fees.
Futurer for Dragon Global Chips
Despite the many clamps by Chinese government to eliminate corruption, the gaming industry in Macau has still much potentials due to increasing numbers of the recent visitors from China , who mainly comes to the region for gambling. Being a legalised and glamours place to be, it has attracted many gamers. Macau still remains the most important location for gaming industry in this region.
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