Cryptocurrency News: Blockchain Begins To Diversify Into Lotteries | City & Business | Finance
Blockchains, including Bitcoin and Ethereum, have garnered a lot of attention in recent years as their value has fluctuated dramatically. And although they have steadily expanded their appeal, newly created crypto lucky block claims to have gone a step further.
He has ventured into lotteries – with CEO Scott Ryder saying he wants to create a “global lottery” that could eclipse Euromillions.
Speaking to Express.co.uk, Mr Ryder said: “We believe the lottery should not be geographically tied or tied to local financial systems.
“Instead, our goal is to develop more transparency and fairness in the game, creating a lottery where every player has a better chance of winning while providing a solid investment strategy for token holders while contributing to the community.”
It was once famous that someone is more likely to be hit by a meteorite than to win the lottery.
READ MORE: TV license: millions of people don’t need to pay for a TV license
He explained, “It was only a matter of time before crypto moved to lotteries.
“It’s been called a gamble for years, especially by critics.
“Now he really embraced that in full.
“For centuries, new technologies have challenged old ways of doing things.
“It was only a matter of time before crypto branched out to take on conventional gambling.
“It shouldn’t come as a surprise and Lucky Block won’t be the last.”
Mr. Ryder also said that growing confidence in crypto will gradually see it diversify into other sectors.
This could include everything from home sales to weekly purchases.
“We dropped the Gold Standard in 1931, but people still use silver,” he said.
“It is based solely on people’s confidence in the value of the currency. This trust is difficult to establish and easy to destroy.
“Crypto – and I’m not just talking about Bitcoin – has boosted confidence in its values. It’s still a long way from the dollar or the pound, but it’s getting there.
“As this faith builds, more and more people embrace it, which gives it more stability, which equals value.
“It will still take years, but crypto is here to stay.”