We’ve seen cryptocurrency lotteries with provable fair systems that can be verified on the blockchain before. So, why does KIBO platform matter?
KIBO is much more than just a provably fair lottery, it is a completely decentralized lottery franchise system with immutable rules enforced by the Ethereum smart contract system. This means that anyone can open their own lottery platform and that KIBO will always be online as long as the Ethereum network is, regardless of the success or adoption of the platform.
This type of approach will make this ancient game more efficient and fair, by removing unnecessary middlemen that charge high fees and can be corruptible. Among these unwanted middlemen often stands the national government, which will tax a big portion out of any prize won. Cryptocurrencies allow these prizes to be paid in full and in instantly, which never happens with traditional lottery systems that can take months and even years to deliver your prize. Cryptocurrencies can also move seamlessly between hands, allowing KIBO users to remain fully anonymous, if they choose to do so.
On October, 1st, KIBO will launch an Initial Coin Offering (ICO) period, in which 100 million Kibit tokens will be sold. These tokens represent a share in the KIBO platform and will pay dividends from the profits generated by all of the KIBO platforms. During this crowdfunding campaign, KIBO will also sell 17.5 thousand platforms for 10 ETH each.
These platforms allow you to become a member of the KIBO franchise, and come with an easy to use graphic interface and with all the necessary tools necessary to successfully promote your own KIBO lottery worldwide. KIBO platform administrators will receive revenues from the tickets purchased by users, from which 10% of the buying price is given to the lottery operator. So, whether you want to earn passive income by receiving dividends paid from the revenue generated by the KIBO network or to actively manage your own lottery, KIBO allows you to do both.