The Quanta Group commenced its lottery project in 2015 and, via Quanta Technology Limited, launched its first product “Quanta Lottery” during its participation at ICE Totally Gaming 2018 in London. Granted an OGRA gambling license by the Isle of Man Gambling Supervising Commission in August 2017, Quanta Lottery is the first fully compliant blockchain lottery in the world. Developed on the breakthrough Ethereum blockchain technology, Quanta aims to transform the conventional lottery sector for the better and has the potential to change the world of gaming.
Quanta’s decentralized global network not only provides a safe and credible environment for players and operators but also democratises the experience by making it available to people regardless of border or economic status.
Lottery Market
And It Is Still Growing
With the growth of the world economy, especially within APAC and Africa, and the corresponding changes within income groups, experts expect the lottery market to grow. Further, as use of mobile internet devices such as smartphones and tablets increase, expansion of the online lottery market is certain.
An Enormous Market Exists
According to TechNavio’s Global Lottery Market Report (2015-2019), the value of the global lottery market in 2014 was $246.65 billion. It is expected to reach $376.87 billion by 2019. The lottery market growth is 8.85% CAGR.
The Current Challenges in Lottery
As all centralized services, lotteries have the issues of trust. Four common issues are:
Fairness
Lottery players may question the possibility of manipulation or fraud
Distribution of Fund
Lotteries serve as funding for social projects. However, fair distribution of funds can be questioned by the players
Availability
Users are limited to playing smaller local lotteries. New online solutions may charge high fees and carry risks of fraud.
Regulations
In many regions, lotteries are not legal or require license to operate a commercial lottery business.
Quanta Is Proving Lottery Drawings Are Fair
Built on the breakthrough Ethereum blockchain, Quanta is the first step to the new generation of global lotteries. Major characteristics and improvements that a mass decentralized lottery will bring are:
Transparent
Quanta Lottery System is built on Ethereum blockchain, operates with high level of autonomy with its data and
Borderless
Players who own cryptocurrency can participate in Quanta Lottery from anywhere at anytime.
Fully Compliant
Quanta is the first officially licensed block-chain lottery in the world:
- GLI certification on Quanta Lottery System
- Anti-Money Laundering and Countering Financing of Terrorism (AML/CFT) Legislation
Truly Random Winners
Random Number Generation (RNG) method which is used to produce winning numbers is secure and fair and makes manipulation and fraud impossible.
License
Quanta understands the importance of regulation and how this will impact our business. We have obtained relevant licenses to operate our lottery business with the aim of making it available for everyone in the world.
Introduction to the Officially Licensed Lottery
Quanta understands and values the importance of strict regulation in the gaming industry. Besides, by effectively adopting Anti-Money Laundering and Countering Financing of Terrorism (AML/CFT) Legislation, Quanta shows its strong commitment to the actual implementation.
Quanta Ensures The Following Procedures Are Met
Security & Risk Management
Security and/or risk management assessments to meet global standards
KYC Verification Process
Strict KYC verification process and compliance with EU’s latest Anti-Money Laundering and Terrorist Funding legislation
Players Come First
- Players’ data protection
- Players’ fund protection
- Active support and assistance services
Compliance With
- National Lottery License
- Gambling Regulation
- Cryptocurrency Regulation
NMi Certificate
Quanta was also granted the NMi Certificate. NMi performs compliancy tests to assess the quality and accuracy of a measuring instrument, like Quanta’s unique Randao process. Back in July 2017, we went through the rigorous testing process and were granted the certificate to prove the Randao process is genuinely fair.