Hello again Mitoshi Community,
The biggest scam in the world would have to be the one orchestrated by Bernie Madoff. That’s about 4,800 investors that included lawyers, doctors, and professionals - all losing as much as US$20 Billion sometime in late 2008. Now, when we look at ICO blockchain projects - some ICO’s raised US$100k and some as much as US$10Mn in 2016. In 2018, ICO’s raised about US$6Bn, which is just a third of what Madoff ripped off from investors. Some experts are saying that 80% to 90% of these blockchain projects will fail and could not deliver . For whatever reasons, there are blockchain projects that are still at their nascent stage and the technology is still waiting for a real world test case before it can be adopted in the mainstream. But ICO’s and blockchain projects still do not qualify as the biggest scam in history.
Like Facebook, Google or Amazon during their gestation period - blockchain projects if properly executed promises outstanding potential and a rewarding upside. During the dot com days of 2000 for example, about 80% to 90% web based companies have gone bust. But these dot com companies have left ideas and business cases that were ripe for the picking by some well capitalized entrepreneurs. Facebook got the idea from Friendster?
For those who are looking at blockchain projects and the promise they offer - Mitoshi brings forth a valid blockchain use case that fits credibly into these 4 areas:
Removes the Middle Man in the Current Process. Mitoshi CryptoLotto clears away operators and other parties that is an additional operational expense. So any savings goes back to the pool prize - that means more winnings and returns to the players.
New Process Previously Not Possible. Mitoshi CryptoLotto is creating the next generation of online gaming that is powered by smart contracts. These smart contracts are digital protocols and algorithms that execute the terms of the contract: such as that means when a player buys his lottery ticket, the sale of that ticket will be automatically split and the portion that is allocated to the government for example will go instantly the government’s e-wallet. Moreover, there will be a proof of disbursement recorded on the blockchain for tracking as well as an anti-corruption audit check.
Improves a Current Process. We can ramble the many improvements Mitoshi CryptoLotto will bring forth from the traditional lotteries. But the most notable of it all is that it will be done in a fair, secure and transparent environment where one can check the draws - if they are compromised or not. Should a player win the draws, the winnings are automatically credited to the winner’s e-wallet, no questions asked. And lastly, we have the “Everybody Wins Principle” wherein when no bets match the draw, the jackpot breaks at a predetermined draw date and will be distributed to all the active players of that draw. Everybody wins with Mitoshi!
It has the potential for mass adoption and global consumption. Everybody loves lottery. The Mitoshi CryptoLotto project can be scaled globally to cover the 3 main geographies of Asia, North America and Europe.
You can open your FREE account with exmarkets and start playing Mitoshi tokens today.
See you at the ExMarkets,
TC Picardo
CEO & Founder