Quanta, an Isle of Man-based regulated lottery project operator, updated its CTO Kostas Farris’ blog, according to its official SNS.
The corruption scandal raises the question of why lotteries are banned when, with the right technology, fraud can be mitigated entirely. This is certainly true of online and land based lotteries powered by the blockchain.
• Transparency – ledger is public and open, which combats money-laundering and fraud.
• Payments – no need for third-party processor, so transactions are more secure.
• Security – protected against cyber security threats such as DDoS attacks.
Increased data protection and transactions cannot be altered by third parties.
The technology to achieve this in the online and land based lottery sector is available by Quanta as the project provides a fully licenced blockchain platform.
Quanta’s token QNTU is already trading on other cryptocurrency Exchanges such as Lykke, HitBTC, Bit-Z, BitPro, and Cryptopia.
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