Dragon Global Chips DRG & DGC ICO: Casino Cryptocurrency?
About Dragon Global Chips
Macau’s gaming and gambling industry are set to change forever, thanks to a revolutionary cryptocurrency called Dragon Coin DRG. The coin will be a frictionless, low-cost and transparent alternative to the typical financial instrument. It will be a blockchain-based coin whose aim will be to benefit everyone within its gaming ecosystem – major stakeholders and eager members of the public looking to buy its tokens.
Dragon Coin, tokenized as DRG, is an ERC20 Eth Utility token that will be of use within the Dragon’s Blockchain ecosystem. Using it, one will become a shareholder, either by investing in the system or casino players who will be participating in it. DRG tokens will be eligible for exchange with Dragon Global Chip (DGC) – chip game cryptocurrency for extra security of the blockchain.
What Necessitates its Existence
In Macau, there’s no centralized gaming facility, a factor that gives rise to the emergence of smaller independent gaming houses called Junkets. They provide the “stake” or accept the other side of the wager so that one can bet in the casinos. But all isn’t easy since if you are to bet with $1 million, there must be a similar amount offered by the other party.
Another issue emanates from cross-border regulations that limit the transfer of vast amounts of money into Macau.If it is $1 million meant to be used in gambling, one will need to use credit providers to front the amount to this country. The money will be sent in smaller bits, but the only issue is the transactional feels, 5% for each transaction.
In the end, one will receive $950k or $900k depending on other factors. This contributes to Macau’s monthly gross gaming revenue of between $2.49 billion and $3.3 billion. Of course, this model kills off many gamers’ ambitions, compared to Vegas where the amount is about $900 million.
When Dragon becomes operational, intermediaries who thrive in this business will bow out of the market. Dragon coin will allow gamers to send their DRG tokens to the junket, at the cost of about 0.5%, unlike the initial 5%. The switch will also raise what Macau receives in revenues by between $500 million and $1 billion each month.
About Dragon Token Platform
- Buying, Selling and Converting DRG tokens will be possible via BTC, ETH, LTH, XRP or any other crypto partner as well as fiat currency.
- Member of the Dragon ecosystem will register as account holders for KYC purposes and each user will have their Dragon wallet.
- The platform will allow cross-conversion of different coin types, including DRG to BTC, ETH, LTC, XRP and any of the main cryptocurrencies of the future.
- Also, there will be issuance of physical Dragon multi-currency debit cards that connects the holder’s account to ATM network and global MasterCard/Visa vendor
- Members will be free to use their Dragon cards to withdraw cash after converting their DRG or coins. Also, they will be able to make deposits.
Features of Dragon Coin
- DRG ECR20 Token – built on Eth Blockchain.
- Transparency and Security – for junkets (casinos) and gamblers, the Secure transaction ledger promises high levels of transparency and security for their funds (tokens).
- Liquidity – since DRG will be continuously needed by gamers to buy DGC (Dragon Global Chips), there will be a constant demand and thus sustainable for the ecosystem.
- Winnings – convertible from DGC (Dragon Global Chips) to DRG tokens or fiat currency, depends on what the winner needs.
Dragon Global Chips DRG & DGC ICO Summary
- Token sign, type – DRG, ERC20
- Tokens – 500,000,000
- ICO period – December 8 – December 31, 2017
- Owned by its founders – 10%
- Owned by advisors – 1%
- Owned by Treasury, Reserves – 7%, 10%
- Available for the ICO (hard cap) – 72%
- Raised in the 1st week of ICO – over $1,000,000
As it's apparent, Dragon coin will help in multiple facets. While launching the ICO, even the ex-con triad gang boss Broken Tooth who had been imprisoned for vices relating to gambling was available and attested to the impact that Dragon coin would have.