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. People are now able to enjoy a transparent, fair, fully-autonomous and manipulation-proof gaming experience at www.myquanta.im
From what I experienced, Quanta is the first company which is looking at this blockchain technology holistically, with the genuine competency and intelligence to be the first true lottery that can be played globally by players using the borderless Ethereum currency, making it possible to have many more millionaires than other games.
I believe that Quanta, as a commercially viable blockchain-based lottery protocol, has a major opportunity to innovate the lottery industry as well as expand it to countries that have not been able to offer it before.
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.
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.
As all centralized services, lotteries have the issues of trust. Four common issues are:
Lottery players may question the possibility of manipulation or fraud:
– Is the ticket and lottery real?
– Is the jackpot winner real?
– Are the prizes paid on time?
Lotteries serve as funding for social projects. However, in many cases, fair distribution of funds can be questioned by the players.
Users cannot easily take part in some of the biggest lotteries in the world but are limited to playing smaller local lotteries.
New online solutions have recently gained some popularity but the service charges as well as risks of fraud and mismanagement remain high.
In many regions, lotteries are not legal or only governments and affiliated organizations can obtain a license to operate a commercial lottery business.
Also, corruption schemes that affect distribution of funds may take place in different regions.
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:
Quanta Lottery System is built on Ethereum blockchain, operates with high level of automony with its data and records cryptographically stored on a decentralized Blockchain.
Players who own cryptocurrency can participate in Quanta Lottery from anywhere at anytime.
Random Number Generation (RNG) method which is used to produce winning numbers is secure and fair and makes manipulation and fraud impossible.
Quanta is the first officially licensed Block-
chain lottery in the world:
– Licensed by the Isle of Man Gambling Supervision Commission
– NMi certification on Quanta Lottery System
– Anti-Money Laundering and Countering
Financing of Terrorism (AML/CFT)