The establishment of blockchain-based gaming alternatives has been a recognized possibility for nearly a decade already. Few decentralized gaming projects, however, have truly taken into account the implications of government regulation. Everyday, innovative projects are being shuttered by regulators, largely due to their founders’ hubris with regards to the law.
The Quanta lottery, founded by experts in both ‘fintech’ and ‘regtech,’ is the first decentralized gaming organization that succeeds at combining advanced decentralization techniques - such as smart-contract powered random number generation (RNG) - with business practices that are compliant with government regulation.
Quanta’s primary technical innovation lies in the manner by which lottery winners will be selected - the Ethereum-powered RNG protocol referred to as ‘RANDAO.’ This RANDAO feature has been thoroughly tested by NMI, and has received a remote gaming operator’s license in the Isle of Man. This makes Quanta the first legally operating blockchain lottery anywhere in the world.
It is expected that Quanta will solve many issues currently faced within the lottery industry worldwide. As a platform, Quanta will form the basis of an entire ecosystem, with the lottery at its core. A system of cryptotokens will enable secure interactions and transactions between Quanta participants, including advertisers (affiliates), white label licensees, RANDAOparticipants, players, and other community members.
In terms of vision, Quanta’s goal is to provide universal access to fair lottery services, whether this be for entertainment purposes or for charity. This document is intended to elaborate on this vision, and to make readers aware of the true humanitarian potential for the lottery.