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ICO Review Series: DRAGON COIN

What is Dragon?

Dragon is fortunate & blessed to have close ties to junket operators, who with their long history in the industry have gaining industry’s major drivers of Asia’s gaming industry.

Dragon Coin will act as a frictionless, low-cost & transparent alternative financial mechanism within Casinos, to enhance the age-old gaming industry. With its expertise in blockchain technology, the Dragon’s goal is to revolutionize the industry’s longest-running industry leader Dragon Coin.

Dragon Coin Solving The Problem

ICO Review Series: DRAGON COIN
ICO Review Series: DRAGON COIN

Hundreds of high-roller ‘Elite Gamers’ travel to Macau every week of the year to play baccarat and other games of chance in “junkets” — VIP high-stakes gaming rooms with a minimum stake of millions of dollars — which are operated as separate cost centers by shareholding syndicates inside the resort’s top tier casinos.

Many millions of dollars? Ow across the tables in these VIP gaming rooms daily and junket organizers suer exorbitant fees in arranging for such high volumes of stake monies to be ready for use by a VIP gamer upon arrival. Then, having enjoyed the gaming and the junket’s hospitality, their high-roller VIP guests incur similarly high fees in the repatriation of their winnings.

A junket often needs to arrange money of several billion dollars to be on hand for each elite gamer arrives in Macau. The current cost to a junket in making the necessary? Nancial arrangements is a minimum of 5%. As for the players, they are typically forced to suer fees of between 5% -7% for costs related to repatriation of their winnings.

A major junket in Macau may be hosting more than 100 elite gamers at any one time, often producing a rolling turnover in excess of US $ 250 million a day. With this level of play at the tables and the constant churn of players, the frictional costs suered by both junkets and their discerning elite gamer guests related to the positioning of the money and repatriation of winnings are both huge and punitive.

The Solution

Indeed digitally tokenizing both stakeholders of monies and gaming chips and using a blockchain to record transactions and tracks, not only in Macau and internationally, with an opportunity to stepchange in cost reductions, improved effeciency and higher levels of security in the management of inherent high volumemoney Flows.

Through connectivity with our digitalvalueplatform, the Dragon Platform, elite gamers wishing to visit a junket could easily convert? At money into digitaltokens, that would be registered on a blockchain underpinning the platform. A numerical representation of the tokens held at any one time would be shown in the gamer’s smart phonewallet.

Whenever necessary, the gamer could eortlessly convert his Dragon Coins (DRG) to Fixed-valuedigital Dragon Global Chips (DGC) for use in the junket. After gaming, DGC could be converted back into DRG and further converted to Fiat money or any other digital currency when needed, all on demand and via the touch screen on a smartphone. If gamers choose to keep monies and winnings in digital form ready for the next visit to the gaming tables, they could do so, securely and at minimal cost.

Application of digitaltokentechnology beyond the monies and winnings to the management and tracking of individual gaming chips, delivers junkets and casinos with significant cash management systems.

Cost Savings

Use of the Dragon Digital Financial Platform by participating junkets and their elite gamers will incur costs much closer to 1% than the usual 5%. This is a significant saving that improves junket profitability and releases more stake money to gamers.

Wider Benefits

In fact the application of fintech to the gaming industry has wider benefits. Crypto and digital currencies are often associated with the anonymity of ‘value ownership’, a problem casinos also face. However, if the digitalfinancialplatform is managed and operated with sound corporate governance and appropriate KYC / AML procedures, then the use of digitalvaluetokens within an industry such as casinos, where use of money in cash form is highly prevalent, can greatly assist in the global drive to eradicate money laundering and squeeze the black market economy.

The Macau Gaming Market

Carry out any review of the media output on Macau and its gaming industry today and you will discover a very positive landscape. The reports not only highlight a clear trend of strong well-fuelled growth in traditional sectors, especially in VIP junkets but, in addition, one will clearly sense a generalwater of optimism and dynamic energy that is moving, broadening and internationalizing the peninsula’s gaming industry . Gaming in Macau is moving strongly ahead.

Carry out any review of the media output on Macau and its gaming industry today and you will discover a very positive landscape. The reports not only highlight a clear trend of strong well-fuelled growth in traditional sectors, especially in VIP junkets but, in addition, one will clearly sense a generalwater of optimism and dynamic energy that is moving, broadening and internationalizing the peninsula’s gaming industry . Gaming in Macau is moving strongly ahead.

The industry is well governed by the Gaming Inspection and Coordination Bureau (DICJ) which licenses all gaming operators, monitors market throughputs and issues forecasts. In a recent report, DICJ announced that gaming win (gross gaming revenue) in July 2017 was up 29% over 2016, and stood at US $ 2.86 billion. Revenue over the? Rst seven months of 2017 was US $ 18.5 billion, up 19% on 2016.

These statistics position Macau, which is already the world’s largest gaming eco-system, on track to surpass US $ 30 billion in a gaming win over 2017. This compares to all Nevada casinos, which reportedly collective gaming win of US $ 11 billion for 2016.

Industry insiders are bullish on both accelerated growth and sustainability. Importantly for Dragon Inc., sector analysts generally agree that increases in VIP gamers (junkets) numbers is driving the growth.

Macau’s six licensed casino operators are also eyeing international expansion into Japan and Vietnam. These two highly prospective regional markets oer Macau are very popular for growth and cross-territory synergies. According to Forbes (Oct 2017), the Japanese government intends to complete the legislative process by the first quarter of 2018 that would let the casinos operate in the country for the first time.

Having been invited, or having decided, to attend a VIP junket in Macau, a high-roller gamer will inform the junket operators of the volumes of money that he wishes to have available (as a credit) at the gaming tables. This can be many millions of Hong Kong dollars. The readying of this stake money is achieved by the gamers’ junket agent vouching for his client.

It is an expensive and traditionalsystem that carries funding costs and credit risks, which is why the typical fee, including the commission for the introducing agent, is 5% of the volume stake. As an incentive to have the elite gamer attend, and to ease the gamer’s cost of entry, this stake arrangement cost is picked up by the junket.

On arrival, the elite gamer will be required to register for his junket VIP card. This is done by providing a telephone number and showing a valid passport. A con? Rmation code is sent via SMS and a VIP account is opened there and then. Having activated his account, the elite gamer then signs a deposit form to have the stake monies (credited to his junket account).

This money can then be converted into NON-NEGOTIABLE gaming chips. These non-negotiable chips can not be cashed. Instead, the gamers must stake them whilst playing at the tables. This forces the gamers to ‘roll’ all the money across the junket tables, which underpins daily gaming volumes. As an incentive to roll, junket operators give the elite gamers a 1% rebate on their gross monies once they complete the first roll.

Winnings are given in the form of NEGOTIABLE gaming chips, which may be staked or cashed out at the cashier’s desk. Having decided to return home with the rewards, the player will once again require the assistance of the junket managers. This operation will cost the elite gamer between 5% -7% of his winnings.

Maximum stakes at baccarat tables in a Macau VIP junket can be as high as HK $ 2 million per play, and daily rolling volumes reaches HK $ 2 billion, with a junket possibly hosting over 100 elite gamers a day. Most will play baccarat but other games of chance are on offer.

There are currently more than 75 accounting for 80% of total VIP revenue.

International networks of agents vet the credit worthiness and suitability of high-roller gamers before introducing them to the VIP junket’s operators. Agents receive commission from the junket operators for giving credit to the elite gamers and they are responsible for the junket for any debt collection.

The top 40 VIP junkets account for 80% of the total VIP stake, for Suncity Group, one of the major VIP operators, recently surpassed a monthly volume of HK $ 130 billion (US $ 17 billion).

Other major VIP junket operators include Neptune Group Ltd., Dore Holdings Ltd., and Lao Kun Group Holdings Company Limited (formerly known as Asia Entertainment & Resources Limited). All are fully licensed by the Macau Gaming Inspection and Coordination Bureau (DICJ) and several top tier junket operators have groupcompanies listed on the Hong Kong Stock Exchange. All junket operators must have the support of one of the Territory’s licensed gaming concessionaires and sub-concessionaires (major casinos).

The Dragon Platform

Buying, Selling and Converting DRG

After completion of the Token Sale, BTC, ETH, XRP, LTH, through a number of leading industry-recognized partner cryptoexchanges or directly through the in-house Dragon Exchange.

Social Wallet

Members of the Dragon Community, defined as being fully affiliated with Dragon-affiliated ‘Social Wallet’ Dragon-affiliated smartphones which will help them visualize the number of DRG, DGC and other forms of digitalvaluetokens stored securely in their Dragon account on the ethereumblockchain. The Dragon Wallet will fully support the holding of both DRG and DGC.

DRG and BTC / Alt Coins

The Dragon Platform and Dragon Community Wallet will support the holding and cross-conversion of DRG to BTC, ETH, XRP, LTC plus other major digital currencies in the future.

Dragon Debit Card

Every Dragon member can opt to receive a Dragon Dragon multi-currency debit card linking their Dragon account to the global MasterCard / Visa network of ATMs and vendors.

Global Cash Machines

The platform will be connected to a network of Global Cash Machines (GCMs), which will allow members to use their Dragon debit cards to draw fiat cash by converting the digitalvalue stored in their accountwallets (whether held as DRG, BTC, ETH, XRP or LTC). Members will also be able to deposit fiat money into their wallets at GCMs.

The roll out plan is to first position GCMs in every Dragon Junket and Dragon affiliated gaming venue. Later, GCMs will be sited strategically in major cities in the Far East / ASEAN region, and thereafter in a number of major cities globally.

Global Cash Machines

Starting in Q1 2018 Dragon Inc. plans to position digitaltoken compatible ATMs in all Dragon and affiliated gaming venues. These will be branded Global Cash Machines (GCMs). In time, the network of GCMs will steadily expand so that members of the Dragon Community — along with holders of other major cryptocoins — will be able to gain access to cash from their digital currencywallets. Dragon Inc. will seek to harmonize efforts and standardize protocols.

The Technology

Distribution Token.

The maximum number of DRGs that could be created is capped at 500 million, which are allocated as follows:

Founders: 10% (50 million DRG)

Advisors: 1% (5 million DRG)

Treasury: 7% (35 million DRG)

Reserve: 10% (50 million DRG)

Junket Partners 53% (265 million DRG)

Early Supporters 12% (60 million DRG)

Public Sale 7% (35 million DRG)

DRG held in Treasury will be used as a bonus DRG to Core Subscribers, and DRG Bonus to the Dragon Social Fund.

DRG held in Reserve may be sold in subsequent rounds of tokengeneration events or in the market, upon reaching the next milestone.

Token Details

For Further Information, You Can Visit Links Below:

ANN THREAD = https://bitcointalk.org/index.php?topic=2524680

WEBSITE = https://www.drgtoken.io/

WHITEPAPER = https://s3.amazonaws.com/drg-token/Whitepaper-Dragon.pdf

TELEGRAM = https://t.me/joinchat/FSgY4RI3tNfalmD2sbIZRg

REDDIT = https://www.reddit.com/r/DragonDRG

DISCORD = https://discordapp.com/invite/CtUGXBC

My Bitcointalk : https://bitcointalk.org/index.php?action=profile;u=1556385

My ETH Address : 0x37211D7B13D6367be5768491b33aB61A684aA157


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