International Lottery and Gaming Limited (ILGL), trade-named NaijaLottery, has signed contracts to introduce Quanta, the world’s first licensed block chain lottery, as its new investor, Charbel Saadeh, Managing Director of Naija Lottery has said.
According to Saadeh, the partnership concluded the world’s first deal to see an important synergy of traditional and block chain lottery.
He said ILGL is one of the largest gaming companies in Nigeria, and has been granted a Grade A National License from the National Lottery Regulatory Commission to offer lottery games throughout Nigeria.
Under the agreement, he said Quanta and ILGL will combine forces to apply block chain technology to revitalize the traditional lottery, and to act as a platform to further strengthen growth in African market.
He said the partnership is a major development in the penetration of block chain technology into traditional business models.
Saadeh said NaijaLotteryTM sells National Lottery tickets in every city and state, offering large prizes to winners. The company is committed to implementing the highest international standards of responsible gaming, protecting minors and discouraging addictive playing. ILGL employs best-in-class technology and related services.
He said : “Quanta is the first fully licensed block chain lottery in the world. Developed on the breakthrough Ethereum block chain technology, Quanta transforms conventional lotteries for the better, revolutionizing the gaming industry. Its block chain-based lottery games are fully certified to ensure utmost trust and transparency for the players and the regulators.
“Now is the time to build on the momentum of the traditional Nigerian lottery market. Together, we will continue to build a safe and trustful platform that ensures fairness and transparency, while offering amazing functionality to players and helping to boost the local economy, creating an even more compelling experience to optimize lottery playing for the 200-million Nigerian market.”
Kostas Farris, Chief Technology Officer (CTO) and Director of Quanta, commented on the partnership, “This is a profound opportunity to bolster the rapidly-evolving lottery business. We are confident that we can make block chain lottery popular and this partnership represents a significant base for Quanta to target other emerging markets centered in Africa.”
The Nigeria lottery industry has undergone strong growth in recent years and is considered as one of the most lucrative business opportunities in the world. It is a major source of wealth distribution in the country
Culled from nation
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