Hong Kong — June 2018 – Bethereum, the company introducing a blockchain-based solution to social betting, is promoting a safe and transparent online platform that incorporates powerful gamification elements for a truly rewarding and empowering online betting experience. Bethereum’s technology provides players with a fully decentralized alternative that users can wholeheartedly trust, challenging the status quo of traditional, opaque betting solutions. In traditional betting, the house always wins, with Bethereum, the house cannot win, because it no longer exists.
On May 14 2018, the US Supreme Court ruled that betting was legal across the US, overturning the Professional and Amateur Sports Protection Act from 1992. Following the federal green light, Delaware was the first to roll out single games sport betting on June 6, with other states including Pennsylvania, West Virginia and Mississippi expected to promptly follow suit. While the Supreme Court addressed the needs and rights of the states, what about the needs and rights of the players? Bethereum is perfectly positioned to offer innovative solutions to empower the players and set a new standard of fairness and transparency for modern betting at a crucial time of industry revival.
Bethereum’s technology builds fairness, transparency and security directly into its platform. Smart Contracts record all bets’ conditions, keep the funds in escrow, validate the bet outcome via interaction with Oracles, and automatically pay out winnings. Smart Contracts are unchangeable once deployed and occur without human intervention, eliminating the risk of manipulation. Bet results are fed to the Smart Contract using an Oracle, a trusted data feed, which gets its data from multiple data sources and runs a consensus algorithm to verify the validity of this source data.
At its core, Bethereum aims to provide the blockchain solution to an industry plagued by a bad reputation and unfair and exploitative betting practices. While still in development, the company’s technology has already gained worldwide acclaim, as confirmed by a successful presale round, in which Bethreum raised over $4 million. In addition, Bethereum reached a top finalist spot in ICO race, competing with over 150 projects for the largest prizes ever awarded in a blockchain pitching event.
“Once the users grasp the advantages of using Bethereum, they realize how unfair and opaque the traditional alternatives are,” says CEO Giacomo Tognoni. “The social aspect of our platform helps us scale quickly, as users share the app to bet with friends. We’ve been seeing a massive influx of new users ahead of major sporting events, with tens of thousands of bets already placed on our blockchain-powered Community Betting Game.”
“The new US regulations present an enormous opportunity for Bethereum. In addition to the B2C platform, we have the ability to actively co-create the new B2B ecosystem, with the Bether token becoming a standard for all betting transactions,” says co-founder Peter Gal.
BetherNet protocol, Bethereum’s propietary technology, allows efficient interoperability among the various systems involved in the platform, as well as a simplified integration of third-party developed content into the Bethereum solution. The protocol also bundles together a Graphical Smart Contract Creator with the ability to enable communication between Smart Contracts and Oracles or with the Bethereum’s Wallet application.
Bethereum’s main sale opens on 28 June – get whitelisted here.
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