JoyToken Plans To Transform The Billion Dollar Online Gambling Industry With Smart Contracts & Blockchain
The global online gambling market is huge and its growing rapidly. By 2020 it is predicted that revenues from online gambling will hit $USD 37.91 billion.
But despite the success of the online gambling industry it is not without its problems. Chief among these is a lack of transparency for a players and a system which tends not to favour smaller game developers.
Developing games for the online gambling industry can take an extensive period of time. Once a game is ready for the market developers typically find that they are facing with a relatively low share in the revenues the game produces. They also have to deal with strict regulatory requirements and integrating into the larger gambling platforms backend.
This also means that players are missing out on exciting new games that these smaller developers could be delivering. Players also experience a lack of transparency when playing online gambling games. They have to trust that the games that they are playing are fair. Because players have no good way of measuring the fairness of a game, they tend to favour larger gambling websites, which are perceived as being more likely to offer fair games.
Joy Token is a new blockchain tech company which believes it can disrupt this existing paradigm. In the process it could become the new default currency of the online gambling industry.
What Joy Token Offers
As we have already seen one of the big problems facing the online gambling industry is a lack of transparency. Joy Token wants to overcome this problem by using smart contract in order to create trust. Smart contracts are self executing contracts where the terms of the trade are written into the code. Because everything is recorded on a public blockchain their is complete transparency over the process. Players are actually able to verify that the games they are playing are fair.
What’s more in the Joy Token system players are always in control of their funds. the ecosystem offers smart wallets which are credited or debited depending on whether the player wins the game. At all times the players controls their own smart wallet not the online gambling website.
Joy Token will also help smaller developers to overcome the regulatory hurdles they typically face. When a developer creates a new game using Joy Tokens framework, that game automatically become legal to play in the countries that Joy Token is operational. What’s more games created in the Joy Token ecosystem, will be immediately able to earn income using the Joy Token marketplace.
JoyToken Revenue Streams
JoyToken will make money by charging a transaction on every game that is played. Because JoyToken doesn’t require a third party payment provider the margins available for them are higher. They will also earn revenue by charging developers for access to their API.
Joy Token Sale
The JoyToken Sale will be divided into a presale from 1st December 2017 through to 19th March 19th 2018 and a main token sale from 20th of March 2018 through to 19th of April 2018.
You can learn more about the Joy Token sale by visiting:
JoyToken Website: https://joytoken.io/
JoyToken Whitepaper: https://joytoken.io/white-paper.html
JoyToken Bitcointalk: https://bitcointalk.org/index.php?action=profile;u=1343129
JoyToken Twitter: https://twitter.com/JoyToken
JoyToken Facebook: https://www.facebook.com/JoyToken.io/
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