Dragon DRG – Bringing Gaming Into the 21st Century

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This article will be divided into 2 parts; the 1st part will contain the project introduction, the challenges and solutions and the 2nd part will contain the project ICO review and token sales. 

DRAGON DRG – PART 1: INTRODUCTION 

In a simple language, dragon coin is a digital currency built on the Blockchain technology with the purpose of serving the VIP gaming community of Macau junket. 
The major purpose of the dragon coin is to revolutionize the gaming industry by providing solutions on the blockchain to the problems faced by the industry. 
The dragon coin will also serve as a currency that can be used for transaction all over the globe. Gamers will enjoy the benefit of low transaction fee, fast and transparent transaction while using the dragon coin. 
Let take a example of an existing problem in the gaming industry:
Transfer of money into the Macau: The process of transferring funds into the Macau junket is not as easy as walking into the bank to deposit money or send money. 
The gamers have devised a means of transferring their money into Macau by sending the money to a credit provider in their home country who will help in disguising the money and then make the money available to him once he gets to Macau. 
Though this is a good idea but the negative part of it is that this;
  • The credit providing company will charge a certain percentage for each transaction
  • They charge as high as 5%-7& per transaction
This percentage may seem low but considering a scenario where a gamer wants to transfer $2million and he is charged 7% of the amount which leaves the gamer with only $1.86million. The gamers face the same problem when trying to transfer the money back to their homeland. 

The innovative solution: Dragon Coin

Dragon coin is an Ethereum based utility token (ERC20). It is used to participate in the dragon Blockchain ecosystem.
The DRG team has been able to come up with a solution to these problems by developing a DRG ERC20 token.  The DRG token can be converted to DGC (dragon global chips) which will be used in the casino.
The gamers will have to purchase the DRG tokens from an exchange with fiat (local cash) and then send it to the junket paying a percentage fee of only 0.5%. This percentage is low compared to the 7% charged by the credit providers.
This will increase drastically the profit made in the junket and still leave room for transparency of transactions. The winnings are paid to the players in DGC which they can convert to DRG token or any other cryptocurrency, or they can even receive it in fiat (local currency). 
It is important to note that the value of the dragon coin is driven by the forces of demand and supply for the coin. The initial supply of the dragon coin is limited to 500million coin which will gradually reduce over time through the burn program. The burn program will help reduce the supply of dragon coin thereby creating scarcity (a major feature of currency) which will help reduce inflation. 
It is estimated that the demand for this coin will increase in 3 aspects. 
  1. Dragon coin is demanded by VIP players to buy DRC to be able to play in the dragon junket.
  2. Dragon coin is not only needed to buy DRC, it can also be used to pay of goods bought and services enjoyed in the dragon ecosystem. 
  3. The dragon coin will embark on a one month one millionaire airdrop program where 10% of the dragon coin monthly profit will be given to a random dragon coin holder. 
These 3 steps will definitely increase the demand of the dragon coin which will have a positive effect on the price of the dragon coin.
I will discuss more about the dragon project in the part 2 of this article, where I will be talking about the ICO review and token sale. 
For more information you can check the official contacts here


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