Kamari: Blockchain Gaming Payment Project?
What Is Kamari?
Kamari is a utility token that seeks to facilitate safe and secure large-scale participation in gambling and betting. It targets the world’s fastest growing economies. The token already has its roots in firmly established multi-platform gambling and lottery infrastructure, which makes it ready for take-off with significant market adoption and growth.
Kamari intends to achieve its goals by collaborating with the already existing blockchain technology platform. This will help it utilize the most recent technologies in scalability and security. Once established, the Kamari blockchain ecosystem will focus on transforming legacy transaction models. It aims to do this while focusing on the need for mass-scale cross-border trade, liquidity deficit, functional interest rates as well as interest rate parity—which are holding back the huge potential of fast-growing economies.
Starting with Africa
The focus is on rapidly growing economies, starting with Africa. Africa is one of the world’s fastest growing economies. According to IMF projections, the continent is already poised to become the world’s number one growing economy in the next five years. The continent also has a promising population growth.
The gambling industry continues to experience various challenges, which if left unaddressed, will lead to massive letdown. Some of the challenges in the industry include:
- High barrier to entry for African lottery operators: usually it’s difficult to obtain licenses for lottery and gaming activity across the continent, especially for those with no strong network of existing operations and relationships.
- Difficult cross-border payments: cross-border transactions with fiat currencies present major complications for all parties involved, including fraud risk and volatile exchange rates.
- Fluctuating exchange rates: currently, it is impossible to grow and maintain a fair game such as a lottery draw, across several African countries, mainly owing to fluctuating inflation rates.
- Lack of In State Lotteries: with varying exchange rates, across African countries, there are huge unfair practices that work against the benefits of a pan-African lottery. Lotteries can easily favor a country with more preferable foreign exchange rates.
- Costs and transaction fees: Gaming and betting activities are not cheap, even though they enjoy global support. Offline gaming comes with travel, food, and lodging costs.
Kamari is in the best place to capitalize on the explosive growth of mobile gaming and cryptocurrencies, supported by an experienced team of executives in the gaming industry, leading blockchain experts, and its deep African roots. Kamari seeks to win the African market through the following strategies:
- Access to established African gaming operators with existing lottery licenses to operate legally in seven countries within the first year
- Developing an extensive distribution network of retail Point of Sale (Mpos) apps
- Leveraging the marketing, data, and distribution infrastructure of an interoperable, cross-border, African token ecosystem that improves the value of its family of tokens in the long-term.
Kamari Long-term focus
In the long-term, Kamari seeks to realize global growth by continuing discussions with ASEAN and LATAM growth markets it has already identified. The gaming ecosystem brings on board Kamari payment tokens (KAM) to an expansive and active market that includes online and offline casinos, sports betting, and lottery games.
KAM aims to grow tremendously in the fastest growing market for cryptocurrencies and payment systems, run by established gaming industry and lottery operators licensed in 21 countries across Africa. The token also focuses on distribution to 500,000 point of sales and mPOS units.
It will also work with other coins in the Kamari blockchain network, as well as with a community of gamers all connected by wallets and smartphone apps. The Kamari coin aims to be the world’s first token to support an existing gaming ecosystem. It will also provide a unique and significant opportunity for rapid market adoption and sustainability.