Ethereum Smart Contracts Kibo Revolutionize Lottery Business
An international decentralized lotto platform Kibo in powered by Blockchain and Ethereum smart contracts. The platform offers many advantages over legacy lotto games: fair draw, easy ticket purchases and instant payouts regardless of your country of residence.
Last but not least is the transparency which comes with the use of Blockchain. A very important feature of Kibo is that it runs on Smart Contracts - a cutting-edge technology, pioneered by the Ethereum network. Smart contracts work in a similar way to regular business contracts: they list certain terms of exchange between involved parties, which get fulfilled in a certain manner under specified conditions.
The key difference is that the fulfilment of Smart Contracts is managed by machine code. What that means is that the entire mechanism of the game can be checked and verified by any user at any time, and all game processes are free from tampering by unscrupulous parties.
All the transactions are represented on a publicly accessible ledger, which is the Blockchain, and the process of making draws is perfectly fair, which any user can check for themselves.