In recent years, the global gambling industry has been growing and evolving. According to research, the gambling industry is expected to grow at a CAGR of about 8.45% between 2018-2022. For example, the gambling market contributed about 0.91% to the US GDP in 2017 alone.
Gambling is beginning to gain enough widespread and attract huge foreign investments, owing to the recent development in online gambling and continuous technology advancements. This has resulted in several economies legalizing it. However, in spite of its advantages such as the creation of job opportunities, there are still challenges with the current gaming industry.
The current gambling market is centralized, and disputes between participants and platform operators are on the rise. Also, the security of funds during game transactions is not guaranteed, and there is a lack of transparency and privacy. However, with the utilization of blockchain technology, the current issued faced with the gambling market can be addressed. Blockchain provides a secure, open, and transparent system due to its immutable and decentralized nature.
In the bid to provide a fair and secure gaming ecosystem, RAcoin aims to leverage on blockchain to provide a platform that will fully meet all the needs of online and offline gambling. RAcoin intends to make online gambling a unified payment gateway whereby currently existing platforms will be able to integrate to the cryptocurrency coupled with traditional payment means.
The sole aim of RAcoin is to effectively utilize blockchain technology as a crucial part of the traditional gambling industry and also reach the general populace to administer RAcoin as a decently featured cryptocurrency for gambling.
The RA Entertainment recently secured agreements with two leading European gambling and betting platforms. However, RAcoin will be integrated as a mode of payment in online and offline casinos managed by the RA Entertainment. Interestingly, RA Entertainment is working to turn Palau island into a gambling paradise. They intend to build a luxury casino and hotel towards the end of 2018, on the Palau island. This Island which provides the luxurious lifestyle to people who desire class will be the very first place where users can pay for everything using RAcoin. This will bring about globalization and pay-as-you-go convenience to the global gambling market.
RAcoin's MODEL
RAcoin will enable customers to easily and freely select their preferred way of making payments either by use of the RAcoin token or fiat. However, users stand the benefit of enjoying a much lower withdrawal fee upon using RAcoin as the preferred payment means.
RAcoin will utilize gamification techniques which would easily aid and spur users in learning about blockchain and crypto economy.
Another catchy feature of RAcoin is that it provides incentives for users who use the RAcoin token to purchase goods and services either online or offline in the Palau World ecosystem. Users are automatically qualified to enter the 'operating' and 'crowd sale' jackpot to partake and win a share of RAcoin funds raised inside the Palau World eco-system, and the winners will be selected via smart contracts.
RAcoin will provide customers with wallet and Exchange, which can be used to trade fiat currencies, play the corporate beetle game to earn free RAcoin tokens, and also partake in the lottery. The most interesting feature of the RAcoin wallet is the ability it gives users to play sports bet events using the RA Wallet. This wallet will be made available to users before the upcoming FIFA 2018 World Cup scheduled to commence in June.
WHAT DIFFERENTIATES RACOIN FROM TRADITIONAL BETTING PLATFORMS
Several other crypto companies have tried to address the current issues rocking the gambling ecosystem. In fact, they have created platforms that now uses both fiat and cryptocurrencies as a form of payment on casinos. In spite of this, there's still a missing gap which has been left unaddressed. The current gambling ecosystem is in dire need of a native unified cryptocurrency that will fully meet all the needs of the global gaming industry. This is the gap RAcoin aims to bridge in conjunction with utilizing blockchain technology.
Other key benefits of using RAcoins:
- Ability to pay for goods and services using RAcoin tokens in the Palau World and other hotels or casinos that will amalgamate with the RAcoin ecosystem
- Enjoy low commission fees for withdrawals
- Anonymity and transparency
- Partake in jackpots for utilizing the RAcoin tokens
- Enjoy extra free services for using the RAcoin tokens.
TOKEN
The RAcoin token will be issued in the form of an ERC-20. It will function as a multi-utility token which can be simply applied in gambling activities, payment of goods and services.
Total Supply: 20,000,000,000 RAC
Token symbol: RAC
Soft cap: 2,000,000,000 RAC
Hard cap: 8,000,000,000 RAC
Current Price: 1 ETH = 100,000 RAC
TEAM
The RAcoin team consist of a wealth of seasoned, passionate, diverse and experienced professionals.
Below shows the roadmap for RAcoin's project.
Kindly visit https://racoin.io/ for more information.
Whitepaper: https://racoin.io/pdf/racoin_whitepaper_eng.pdf?ver=20180523
Twitter: https://twitter.com/RAcoinNews
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