BETFORM – The Smart Contract Powered Social Betting Platform
Gambling has been around for decades and has immensely grown and evolved over the years. However, thanks to the technology and the immense use of the internet, the world of gambling has slowly taken over the internet and online gaming industry. Basically the rise of cryptocurrency and subsequent attention brought to blockchain technology has prompted nearly every industry to evaluate the benefits of integrating the technology into their operations One firm at the forefront of this innovation is Betform a new generation of online-casino betting platform powered by the blockchain technology. Betform is designed to support a peer to peer gaming. Using the platform, the need for middlemen is naturally gone.
Betform is a new generation of online-casino betting platform powered by the blockchain technology. Betform is designed to support a peer to peer gaming. Using the platform, the need for middlemen is naturally gone.
Betform uses blockchain technology to create a gaming network that houses traditional functions such as paying out winning and offering quarterly rewards.
Betform strive to enable large user access to a wide range of blockchain games thereby enabling ease of access and maximum security standard . This was able to be accomplished by connecting blockchains , leveraging on the smart contract and payment channels which enabled maximum security and cost reduction.
Betform is a social betting platform powered by Smart Contracts. It is a peer to peer gaming platform which involve no middleman. It connect blockchain technology to the real world by providing decentralized gaming network. All of key operations such as winning paid out, and quarterly rewards are all regulated by Smart Contracts.
Betform mission is to establish ourselves as a top decentralized social betting platform that offer players wide range of multiplayers blockchain games at a maximum degree of convenience, while adhering to the highest security standards in the ecosystem. They are able to do this by connecting blockchains, leveraging on the smart contracts, and payment channels, which works in a completely secure, instantaneous and low-cost manner.
Sport Betting Legalized
The betting industry has blossomed regardless of its legality. Illegal sports betting is a multi-billion-dollar industry (some estimates are as high as $150 billion); anyone who wants to place a bet can do so easily online or through local office pools and offshore books. Now, after the Supreme Court decision, states will be more inclined to consider or pass legislation to legalize sports betting, thus allowing people to continue betting but in a regulated and fairer environment. It will also prevent them from dealing with questionable bookies. Moreover, addicts will have fewer stigmas, which may make it easier for them to seek help.
Legalizing sports betting will create huge state tax revenues. More importantly, it has the potential to create jobs (estimated between 125,000-152,000 jobs) for the American people. Researchers estimate that legalized, regulated sports betting could actually bring in a total of $6 billion in annual revenue for states by 2023. Moreover, it has potential to bring huge money into the United States and keep it there. Currently, most of the betting takes place online. It is more than likely that legalizing sports betting in America will trigger American telecommunications and tech companies to take over the international market.
This is what supports Betform to be present in the midst of society as a social and fair betting platform. Betform is a decentralized social betting platform that brings funs, privacy, and safety for funds to players.
The Purpose of Betform
Provide an easy to understand interface with simple account creation, user friendly profile management and account management.
Provide transparency and fair gaming experience to players. Betform uses a transparent way of generating the outcomes of its games with our tested and certified RNG system.
Increase user retention through gamification such as special events and rewards to keep players engaged.
Target casual players from emerging markets such as the South East Asia and China, Hong Kong and Taiwan.
For these reasons, they create:
Decentralized social betting applications
Players can easily create account and join an ongoing public game or even create a new table and invite other friends to play together. Smart contract as the back bone for the decentralized applications. The games are safe, fun, and private. A business model which is based on volume instead of the margin. They will always welcome winners to join and play the games.
The platform offers numerous types of casino-betting games. But planned to have several more games to deploy. Some of them include:
Mah-jong (Chinese-based board game)
Big Two (Chinese-based card game where the winner is the one who plays all his or her cards)
The Betform Platform Features
Smart contracts will ensure that winners are paid instantly in a transparent way.
Social features will help users stay in touch with each other and make new friends.
The Betform platform will integrate an ERC20 Betform Coin (BFC). All gaming activities envisaged by the Betform solution will employ this coin.
Betform will also integrate selected games and apps developed by third parties. Companies and gaming operators will be able to add their multiplayers games to the Betform platform.
Provably fair gaming
Users can access game history at any time to confirm outcomes. Betform’s PRNG is tested and certified by a reputable test lab.
The platform will operate in accordance with regulations
ERC20 Compliant Wallet
Users will have wallets for easy management. The wallet will allow users to easily obtain the Betform Coin, the App will be interlinked with third-party exchanges via their APIs.
Daily & Weekly Rewards Program
Betform offers daily and weekly rewards for loyal players. The rewards can be spent on app customization (music, background, etc.).
The Betform Token (BFC)
The Singapore based company is currently launch its BFC token Initial Token Sale. BFC token is an ERC20 based on the Ethereum blockchain. All gaming activities envisaged by the Betform solution will employ this coin, i.e. users will need to carry out transactions and place bets in BFC.
The Betform Initial Token sale will begin on January 8, 2019. There will be extra tokens offered as a bonus for users who commit earlier (early-bird bonus). The funds raised by the ICO will be used to redevelop and upgrade the platform and its system architecture so it can comfortably cope with the millions of players heading the way.
Token Symbol: BFC
Token type: Utility token
Total Supply: 240,000,000 BFC
Token for Sale: 96,000,000 BFC
Open Sale Start: January 8, 2019
Token Price: 1 BFC = USD 0.10
Hard Cap: USD 9,600,000
Token Distribution and Token Sale Proceeds Allocation
Open sale 40%
Bounty & AirDrops 2.6%
Token sale proceeds allocation
Development & Operations 55%
Reserve & Working Captital 10%
Decision to launch ICO in Singapore by Dec 2018
Whitepaper concept finalization
Game Development – Sourcing of reputable gaming company
Smart Contract – Start of smart contract development
Game Development – Concept finalization and gameplay planning
Smart Contract – Development of state channel smart contract
Game Development – Gameplay finalization & design planning
Smart Contract – Development of wallet contract to hold our ERC-20 token
Legal Advisory – Whitepaper review by legal consultant
Smart Contract – Development of wallet contract to hold our ERC-20 token
Obtain Legal Opinion
Game Development – Alpha version ready
Smart Contract – Development of crowd sale smart contract
Game Development – Beta version of APP ready
– PRNG certification from Testlab
Smart Contract – Development of gaming smart contracts
Game Development – Release candidate for APP version
– Finalization of development of CMS & webs
Incorporation of operation company for gambling license application
ICO pre-sale start 1 October 2018
Game Development – Launching of Lite version in Google and iOS store
Smart contract – Finalisation of gaming smart contract development
Launching of Bounty program
Smart contract – All smart contracts are audited
Launching of Airdrops program
ICO Open sale
Gambling license application
Integration of smart contracts and games
Application for listing in cryptocurrency exchanges
Target to obtain gambling license
To release Full version of game after the license approval
For more information, please visit the links i have provided below;
Twitter : https://twitter.com/Betform2
Medium : https://medium.com/betform
BitcoinTalk profile link: https://bitcointalk.org/index.php?action=profile;u=1680409