Dragon Coin — Decentralized Digital Currency for Casinos & Players

https://www.drgtoken.io/

I guess you know that Chinese Macau is the same as Las Vegas in USA and you can imagine how much money flows into this city from hundreds of high-roller elite gamers which travel there every week to spend their time with interest and pleasure. And of course you know that the main problem for them is to withdraw their millions of dollars from local banks and other financial structures. It costs very expensive for them, around 5–7% of amount in banks and up to 10% fee for to buy casino game tokens, and of course exchanging their winnings back into cash may cost even more expensive. It is terrible to pay so much fees, even if we had a great weekend and won a huge sum in some elite casino, because we love our money and don’t like to pay any fees, especially if they are so high.

So what we can do with that? Can we implement blockchain and digital currencies with high scale ability and small fees for transaction into this sector? Of course we can and we should do this.

The first who started to do this is the Dragon Incorporation (BVI) Limited incorporated under the laws of British Virgin Islands. They have initiated the launch of an exciting and highly prospective business that is poised to become a powerful force for change within its target sector and their focus is to dramatically disrupt the legitimate public gaming sector, namely casinos.

Who they are?

Dragon inc. is an fortunate and blessed team who have close ties with junket operators and casinos which with their long history in the industry have built close relationships with high-rolling VIP players which are the major drivers of Asia’s gaming industry. And this junket operators are very powerful organizations. Today only in Macau the volume of VIP gamers money via such junkets is around 250 millions USD per day. Impressive sum, is not it? And huge sum of fees for to convert all that money to casino tokens and vice versa too. And if you don’t know what is the junket operator i will explain it below.

Junket operators are organizations which are working with the casinos to usher in critical VIP gamers. Junket operators reach out to wealthy gamblers directly and lure them to casinos by offering luxury travel and accommodation promotions and other personalized services. In essence, junkets are responsible for a large portion of the casinos VIP revenue. Junkets also bankroll their VIP clients by serving as bank-like entities, lending money to players and collecting debts. They are not owned by the casinos, but rather are paid a commission for their services. Junkets play a crucial role in the gambling market. For example at one time, 80 percent of Macau’s gaming revenue came from just 5 percent of its VIP gamblers.

Further i offer you to get to know who is standing behind the Dragon, because every time when i choosing a project for investing money, first on what i concentrate my attention is the core team. It is the most important part of project and every time when we invest in project, first of all we invest in it’s team.

Chakrit (Chris) Ahmad Founder & CEO at the Dragon Inc. Mr Ahmad is a seasoned CEO and serial entrepreneur with broad leadership expertise across technology, software, listings and M&A. With over 10 years of executive experience, he has proven success in building and managing large opportunities through to project design, implementation and completion. His negotiation skills extend not only to other global C-level and private sector decision-makers, but he also has an extensive background working with top government and ministerial offi cials to achieve project goals. With Mr Ahmad’s track record in crafting technology solutions to bring success and development to new industries, it is no surprise that he leads the Dragon Inc. in revolutionising the gaming and hotel industry with blockchain, cashless payments and social benefi ts for the gamer as well as industry leaders and the societies they work in.

Paul Moynan Co-Founder Business Development Mr. Moynan is a global entrepreneur and operations expert, with two decades of success in high-level projects including governments, high net worth families and Her Majesty’s Royal Marine Commandos. his keen acumen for business and project execution has led him to develop a signi cant portfolio of industry-leading companies. The companies range from blockchain technology development,. and cutting-edge healthcare innovation, to security and gaming. he has served as an advisor to many o ces of The President of African States as well as personal advisor to a number of families across the Middle East. Mr.Moynan brings a wealth of top level expertise to Dragon Inc. and its development into a world-leading blockchain ecosystem.

Panchat Chayutthana Director of Business Development and Finance at Dragon Mr. Chayutthana is a brilliant young mind with experience and archivements well beyond his age in nance and securities, as well as business development. Graduating at the age of 18 with a degree in biotechnology, he participated in a research programme in Germany. He then continued to pursue a Master’s degree in Finance and graduated from San Francisco’s Hult International Business School at the age of 20. He is now on course to complete a Ph.D in Economics by the age of 25. his work experience started with a position as investment consultant for Trinity Securities Public Company Limited in which he held licenses for capital assets and derivatives. He was then recruited to work for Apple Securities Public Company limited as a deputy manager of investment banking. With several years of experience in the nance industry, Mr. Chayutthana was invited to join the Dragon Team as director of business development and nance, in which he has helped bring about the partnership structure as well as the operations structure with key business partners crucial to the success of the Dragon Inc.

Yobie Benjamin Chief Technology Offi cer Yobie Benjamin is a Filipino entrepreneur, technology pioneer and international speaker. Benjamin is a globally acknowledged thought leader in the areas of wearable computing, crypto-currencies, payments, information security, machine learning and arti cial intelligence and software development. Benjamin has always been ahead of the curve seeking to push the boundaries of design, technology, human interface and experience. In accepting the CTO position with Dragon Benjamin said, “The physical gaming and casino environment provides a rich laboratory and platform for some of computer science’s most vexing problems. Recognizing undesirable players using some of the most complex capabilities of computer vision, facial recognition and machine learning; Analyzing body movement, facial cues and ticks to recognize player collusion is critical to building customer trust.” Benjamin also brings years of experience in global payments, crypto-currencies and an intimate understanding of business and compliance issues such as KYC (Know Your Customer), AML (Anti-Money Laundering) and anti-terrorism and tracking systems. He will be leading a global team of select technologists to deliver a world class gaming experience.

Dr. Alen Siy Chief Financial O fficer Dr. Alen Siy is a medical doctor, world class businessman and nance expert. Dr. Siy has built some of the most successful global defense industry franchises in Asia. He has built a solid reputation as a nancial genius acting as both CFO and CEO of several defense related businesses including Bushmaster Firearms, Heckler and Koch, Nampo-Talley and Accuracy International. His expertise ranges from general management, GAAP to anti-terrorist and surveillance/security systems.

And of course such huge project should have an advisory board, and there are 12 high-skilled professional advisors, information about them you can find in the project Whitepaper, all links i will provide under this article.

So let’s speak about Dragon’s vision of the current problem and about solution which they offer for this really rich and prospective sector.

The Current Problem

Hundreds of high-roller ‘Elite Gamers’ travel to Macau every week of the year to play baccarat and other games of chance in “junkets” — VIP high-stakes gaming rooms with a minimum stake of millions of dollars — which are operated as separate cost centers by shareholding syndicates inside the resort’s top tier casinos.

Many millions of dollars flow across the tables in these VIP gaming rooms daily and junket organizers suffer exorbitant fees in arranging for such high volumes of stake monies to be ready for use by a VIP gamer upon arrival. Then, having enjoyed the gaming and the junket’s hospitality, their high-roller VIP guests incur similarly high fees in the repatriation of their winnings.

A junket often needs to arrange stake money of several million dollars to be on hand when each elite gamer arrives in Macau. The current cost to a junket in making the necessary financial arrangements is a minimum of 5%. As for the players, they are typically forced to suffer fees of between 5%-7% for costs related to repatriation of their winnings.

A major junket in Macau might be hosting more than 100 elite gamers at any one time, often producing a rolling turnover in excess of US$250 million a day. With this level of play at the tables and the constant churn of players, the frictional costs suffered by both junkets and their discerning elite gamer guests related to the positioning of stake money and repatriation of winnings are both huge and punitive.

The Solution

The advent of Fintech solutions whereby at money can be effortlessly converted into digital tokens and then moved instantly within an eco-system whilst being securely tracked, and all at very low cost, offers Macau’s junkets a highly attractive technological solution that will dramatically reduce their high inbound frictional costs.

Wider Benefits

In fact the application of Fintech to the gaming industry has wider benefi ts. Crypto and digital currencies are often associated with the anonymity of ‘value ownership’, a problem casinos also face. However, if the digital financial platform is managed and operated with sound corporate governance and appropriate KYC/AML procedures, then the use of digital value tokens within an industry such as casinos, where use of money in cash form is highly prevalent, can greatly assist in the global drive to eradicate money laundering and squeeze the black market economy.

So the Dragon Inc. offers to create low-cost, transparent and decentralized platform that will work on blockchain technology and have it’s internal cryptocurrency Dragon Coin (DRG).

This highly attractive technical solution can provide effortlessly and really cheap converting fiat money into digital tokens and vice versa. The tokens can be moved instantly within an eco-system and whilst being securely tracked, thanks to blockchain technology.

By simply words, a player purchases DRG ERC20 Token from any cryptocurrency exchange, then he goes to partner Casinos & Junkets and exchange his ERC20 Tokens to DGC (Dragon Global Chips) and use DGC for to play his favorite games. The winnings that are paid out to the player can be converted back to DRG, another cryptocurrency or the player has the option of receiving a pay-out in FIAT at the same casino.

Great solution, is not it? And also Dragon Inc. aims to build and steadily grow a powerful community centered on a digital tokenized value-management ecosystem tailored to meet the needs of casinos and their gaming guests. The initial focus will be on the niche junket sector of Macau and some other South East Asia countries, where both frictional financial costs and daily cash flows are very high. Targeting the junket sector will very quickly provide the platform with both committed users and significant daily transactional cross-platform flows (Dragon Inc. already have four signed contracts with different junket operators in Macau and keep working in this direction).

And among major plans for future are:

Issue debit cards in a Global Master Card/Visa Network for all members of Dragon Platform. It will provides for them opportunity to draw cash and also settle charges for purchases and services directly from their Dragon account.
To roll out own network of digital token compatible ATMs. This will start in the middle of 2018 with these ‘Global Cash Machines’ appearing in Dragon Junkets and all affiliated junkets and casinos;
And within approximately three years with the Dragon brand well-established in Macau and spreading through the international casino sector, Dragon Inc. has plans to open the first of a number of Dragon-branded hotels and casinos.
The Dragon Junket. Unlike the existing junket system, gamers wishing to attend the Dragon Junket will not need to register at the venue. Instead, at their leisure, they can become members of the Dragon Community by applying online, passing through the registration and KYC/AML procedure and installing a Dragon Community Wallet on their smart phone. This may be done at the venue but most members will have done this well ahead of arriving at the Dragon Junket.

And a couple words about Dragon Coin, their token generation event, token holders benefits and burning program

A lot of useful information you can emphasize from the video below:

Dragon Coin (DRG) is an ERC20 / Ethereum Utility token used to participate in the Dragon Platform and blockchain ecosystem. DRG tokens will initially be bought through the token sale and thereafter on cryptocurrency exchanges, by investors & casino players in order to participate at Casinos using Dragon’s Blockchain facilities managed by Dragon partner junkets.

DRG tokens are exchanged for DGC (Dragon Global Chips), a cryptocurrency gaming chip, at Casinos allowing both players and Casinos to take advantage of the added transparency & security of the Blockchain.

This solution will act as a frictionless, low-cost & transparent alternative financial mechanism within Casinos to enhance the age-old gaming industry.

And of course you should know that the Dragon Inc. has now raised USD $320 millions in capital before the Public Token Sale opens, and it makes this the biggest crowdsale to-date with the USD $265 millions already raised from institutional investors and the USD $48 millions raised from a closed Pre-Sale.

Based on their current success and popularity I can say with confidence that the Dragon Inc. has initiated a real revolution in gambling sector and casinos with a new and convinient for all rules and own ecosystem.

And as you could notice there are nothing unreal among the major plans of the Dragon team and i think that such professional and experienced team definitely will do their best to reach all their goals and to build and grow a huge and steadily Dragon ecosystem. And right now they are holding the main phase of their token sale event and if you are interested and want to join them you can do it via their official website. But before this you should study very carefully all details of this project and participation process, and of course you should always remember that there are not third parties like a bank in this wild digital currencies world and all responsibility for your decisions and the safety of your funds lies solely with you. Good luck!

To learn more about Dragon ecosystem and TGE you can here:

To join Dragon community:

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