Blockchain technology has begun infiltrating many different sectors of the world including finance, healthcare, gaming, supply chain and many other industries. Most recently, it has made its way into the betting world with MEvU.
MEvU seeks to be a peer-to-peer decentralized network that allows individuals to bet on anything with anyone. Anyone can turn anything into a bet and it can all be documented and facilitated on the blockchain. The payouts are direct when the bet concludes and the fees are low. MEvU works as a third-party intermediary that facilitates sports wagering like the casinos do but with far lower fees. The American Gaming Association estimates that around $400 billion is spent a year on gambling and around 99% of it, is illegal.
MEvU uses ethereum smart contracts to transparently store players bets and funds. The team behind the project has just closed their private pre-token sale. Their public token sale is anticipated to open on June 11th of this year and conclude on July 16th.
Forbes reported on the company and said:
“Interestingly, meVu wants to be more than just a conduit for traditional sports and esports betting. It also plans to encourage users to bet on competitions such as beer pong or a round of golf among friends. A challenge concerning those games may be solidifying the true winner and ensuring that payments are distributed to the proper user.”
Global Blockchain Technologies Corp. (OTC:BLKCF) is the lead investor currently for the betting blockchain startup. In the company’s private token sale, the blockchain company invested $2 million dollars.
MEvU will be featured in our Crypto Madness Day 7 tomorrow facing off against another blockchain betting start-up Bethereum. Our poll will be placed on our Twitter page, if you’d like to vote for MEvU. You can view more information on the company, in their official video below.
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