South African startup Gron Digital, a secure blockchain-based open gaming platform, has launched its pre-initial coin offering (ICO) as it aims to revolutionise the gaming and betting industry by overcoming legacy issues and protecting both player and industry from challenges that impact on its growth.
Gron Digital uses technology built on the blockchain to provide a secure, transparent, auditable and fair platform for participating individuals and organisations.
“Gron Digital is a self-sustaining ecosystem that will offer casino gaming, lottery and sports betting on an open platform, designed to reinvigorate flagging player trust through cryptographically verifiable transactions that require no human intervention,” said Tebogo Makamo, chief executive officer (CEO) of Gron Digital.
“The platform places all role players within a single space that is transparent and trustworthy.”
The startup uses smart contracts that act as autonomous trust agents and govern all transactions. These contracts fulfil sets of predetermined conditions based on coded rules embedded within the blockchain.
GRO is the cryptocurrency created to be used by participants in exchange for value and services on offer. All bets, wins, bonuses, incentives and rewards will be paid in GRO.
The ICO launches on February 6 with the intention of raising the equivalent of 57,000ETH, which will be allocated to software development, operations, advisors, marketing, legal fees and contingencies. Once the crowdfunding initiative succeeds and the utility tokens are issued, GRO will be listed and traded on major exchanges.
“ICOs currently have plenty of negative press surrounding them as they’ve been overdone, overworked and have often under-delivered,” said Makamo. “However, not all ICOs are created equal and the one developed by Gron Digital has been crafted by advisors and trusted partners with extensive gaming and betting industry experience. As a result, the platform is specifically targeted with properties built in to protect consumers, children, addictive personalities, suppliers and more.”