GG World Lottery: Interview With Founder Wojciech Lysak
GG World Lottery is perhaps one of the most ambitious STO projects currently present in the cryptocurrency field. The company aims to build the first government-regulated lotteries to combine a True Random Number Generator and blockchain-based technology. By doing so, they’d be able to rid the industry of one of its most pressing issues — lack of transparency in the drawing process.
How it has managed to do so and what are the project’s overall plan reveals its founder — Wojciech Lysak.
1. What, in fact, is the GG World Lottery?
GG World Lottery is our biggest and most ambitious project ever. We’ve been working in the lottery business for years and we have a vast knowledge of its problems. We’ve decided to create the world’s first, government-regulated and licensed online national lotteries using blockchain technology and our True Random Number Generator, taking advantage of quantum physics as the source of randomness. Thanks to this development, they will be the first lotteries in the world providing full transparency of the draw process, thus solving the issue with its credibility at last. At the same time, GG World Lottery will connect all the national lotteries it’ll be running. In general, it can be compared to the multi-state lotteries in the US or the Eurojackpot in Europe.
2. What sets the GG World Lottery apart from the lotteries already offered on the market?
Both the GG World Lottery and all the national lotteries take advantage of mobile technology. Tickets for our lotteries will be available on the lottery websites, but we’ve also created applications for the most popular mobile operating systems – Android and iOS. This distribution model brings two distinct advantages. The first one is the convenience for the players, as they are able to acquire tickets at any time from any place, with just a few clicks using their smartphones. There’s also the other side, the second advantage, this time for us, the operator. Full online distribution allows us to cut the costs significantly, without narrowing down the potential player base. Thanks to the funds we save by doing this, we can allocate a larger part of the income to the prize pool and also support local charities where we’ll be running the national lotteries while increasing marketing activity. Put simply – we’re creating a traditional lotto based on the 1/36 system, but with a completely new technological approach and distribution model.
3. Why have you decided to gather funds for expansion with an STO?
We’re convinced that such a fund-raising method gets along great with our technological solutions and the use of blockchain technology. It also allows us to create a great investment opportunity for any regular internet user. What sets our token apart from countless altcoins is its functionality. It hasn’t been designed as a speculation token, but as a form of digital investment that will become, in time, a source of passive income for the holder. This is thanks to the quarterly-paid dividends. Naturally, the holder will have the possibility to sell our token, as it will be listed on crypto exchanges after the sale ends. At the same time, we think that due to the relative short ROI time, it will be used as a source of a regular, additional income, without any need to take any action to profit.
4. Let’s focus on the blockchain technology. Will it replace the traditional verification process of the draw?
Using blockchain technology allows us to provide full transparency and to rule out any possibility of data manipulations. This is why we’ve decided to use blockchain along with the True Random Number Generator we have developed to finally solve the problem of the draw process fairness and credibility.
5. Why Africa?
There are several reasons. We have decided to start in Africa because it’s possibly the most attractive market for our startup. It’s worth noting that according to the latest analysis, despite the current stagnation of the world economy, African countries are expected to see substantial PKB rise in the next few years. Our solution is based on mobile technologies, and that’s another important reason. In the 15 most developed African countries, more than 90 percent of the population has a smartphone and the continent is the fastest growing mobile market in the world. Apart from this, our CEO Mark Hutchinson has a great experience in organizing lotteries in these regions and know the specifics of these markets. All this combined makes Africa a great point for us to start. Next, we’ll be moving to South America and Asia.
6. “Receive lifetime revenue share based on every jackpot win” is the main slogan promoting your fundraising round. What exactly will be the source of income for holders?
We’ll be paying out dividends based on every jackpot win. For example: if somebody wins 10 million dollars, the investors share in the dividends equals 1% and the dividends itself are also 1%. The dividends are summed up for a quarter and paid out.
7. The collected funds will be used for expansion to other markets or rather help in developing the product?
The funds will be used up to speed up the scaling and expansion of our project. They will be used to cover the costs of marketing, legal and securing the first jackpots. The higher amount we’ll collect, the faster we’ll be able to roll out new lotteries and this will also drive up the amount of the dividends paid to the token holders.
8. What is the certification of Gaming Laboratories International?
Gaming Laboratories Certification consists of three stages: verification of the drawing machine source code, analysis of random data generated by the drawing machine and collecting the signatures of the development environment to ensure that the tested software is, in fact, the one used for the operation of the lottery. GLI certificates are necessary to work on some highly regulated markets. Apart from this, GLI also checks the randomness of the drawn data and the scaling methods (random number distribution), so we can be absolutely sure that our drawing machine doesn’t favor any numbers. GLI report will be available at the end of January as we have currently passed two out of three stages and we’re entering the final straight to receive the certificate.
If you want to read more about the project or take advantage and invest in GG World Lottery’s STO, you can do so on the official website.
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