Jul 2, 2022 15:58 UTC
Jul 3, 2022 at 09:50 UTC
Blockchain Lottery Initiative to Support Good Causes in Ukraine
It has been more than three months since Russia invaded Ukraine and many of us around the world are doing our best to help all those in need. Now, if we look around, the sad truth is that with the ongoing crisis that is crushing Ukraine, their national lottery operation has been disrupted and so has the fundamental mission of raising funds for social “good” causes. The war has interrupted the ticket sales of the Ukraine National Lottery (UNL), and therefore, UNL’s fundamental mission of raising funds for good causes has been affected. Delving even a little into the history of lotteries, it becomes clear that they are not a “money-making” game. They were initially created to fulfil the purpose of fund collection to contribute to state budgets and dedicated to good causes. The critics among us may be skeptical of this well-intended motive, as sometimes the allocation of lottery proceeds has been questioned due to the lack of transparency. Regardless of what one might believe to what extent, it is an undeniable truth that state-authorised lotteries help in raising funds for good causes, and UNL is no exception.
One blockchain company – Block Expert, Inc. – provides a turnkey solution (MyLottoCoin), that shapes a blockchain-enabled future for state-authorised lotteries. The organisation has developed a UNL Super Lotto-themed lottery with the same rules on blockchain (BNB Chain) so it can be accessed globally and played by crypto (BNB) with a substantial portion of sales going to charitable causes through official channels.
Block Expert, Inc. is at the forefront of its niche, with the mission to enable a near-zero operating and administrative cost for lottery operators and organisers, bridges the gap between blockchain gaming experience and traditional gaming world, while still reinforcing the existing brick-and-mortar business model. Based on this principle, and after persevering through thick and thin thanks to their blockchain turnkey solution, the organisation has elevated the social component of lotteries to the next level. They have not only developed the “UNL Super Lotto-themed” blockchain lottery free of charge, but have also uncovered a new way of contributing to Ukraine’s recovery through a historically-proven method to raise funds in a sustainable manner.
This is what we know as the “real-world blockchain use cases”. Those who are paving the way to utilise blockchain technology to solve real life problems and facilitate everyday lives are the key differentiators in this industry, and significantly contribute to the benchmarks in the technology, making it more accessible and tangible for everyone.
Conversely, two noteworthy aspects are this initiative’s transparency and its snowball effect. As stated earlier, transparency has always burdened the lottery reputation due to a lack of clarity on the allocation of funds and prize pay-outs. Blockchain is here to remove the barrier and rebuild the trust in this somewhat damaged aspect of lotteries.
Moreover, this newly developed game not only provides the opportunity for donation, but also has an added incentive to attract more people and lead to greater fundraising with winning possibilities in a lottery game. In collaboration with WhitePay and United24 (U24), a substantial portion of the funds ((35%) will be autonomously allocated to the charitable causes of the Ukrainian Government at each draw.
Allowing the option for contributors to donate while enjoying a traditional game with the chance to win creates a sustainable ecosystem in which the snowball effect can potentially maximise participation, and thereby placing the social component at the centre of the entire game.
Additionally, the original MYL Play-to-Earn (P2E), Hodl-to-Reward initiative has also been integrated in the Super Lotto-themed game. For those who are not familiar, MyLottoCoin ecosystem was conceived to boost the lottery game through a unique P2E program in which players effortlessly receive the native utility tokens when purchasing lottery tickets, airdropped to their wallets for free. By participating in the lottery, players not only try their luck to win but also automatically earn free tokens. These crypto tokens have market value and can be traded, but if kept, the holder will periodically receive rewards based on the number of tokens held regardless of their luck with the jackpot. This is an extra value added that will further reinforce the snowball effect of the game in support of charitable causes for Ukraine.
It is evident that the team has done their part in leveraging innovation for humanitarian causes. The game will go live on 8th July 2022, which marks “Family Day” in Ukrainian calendar, and everyone will have the chance to play or donate to the prize pool for a greater good.
Company website: https://bexpert.com
Game Dapp: https://mylottocoin.com
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