Kibo is coming

The cyber currency community is current buzzing over the impending launch of a new blockchain technology-based online gambling product branded Kibo Lotto, which uses Ethereum smart contracts for diverse online gaming activities – especially lotteries.

Based in Singapore, Kibo is funded from an ICO held late last year, and claims to be the first project in the gambling industry using Ethereum smart contract technology as a basis for all gaming processes, guaranteeing transparency and fair play.

Company publicity informs that Kibo wants to be the first international lottery, where even people in countries with no banking infrastructure can participate in the lottery.

The execution of all operations on the platform is ensured by the smart contracts, which ultimately exclude any possibility of external intervention to any game process, Kibo claims.

This ensures a completely transparent and honest lottery game with instant payments of winnings of any size to any part of the world where there is an internet connection.

All main transactions in the account have a direct link to the blockchain operation and are fully transparent for the platform owner. As the terms of all partner’s incomes generation are established in a smart contract, it ensures the most transparent working conditions and an opportunity to receive a stable income from cooperation with an operator in the gambling industry.

Kibo says that its goal is to bring the lottery industry together and unify every operator onto the same regulatory framework. The company uses a network of over 6,000 independent lottery offices around the world to facilitate this.

A Kibo spokesman said in a company statement this week, “Thanks to blockchain technology and Ethereum smart contracts we have forever eliminated the most crucial disadvantages of the most popular game in the world.”

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