Dragon Token is a cryptocurrency backed by something feasible.
Several cryptocurrencies exist but none of them are Dragon Tokens.
The company Dragon is going to use Dragon Tokens to bring blockchain technology to Macau’s gambling industry. Dragon plans on targeting the junkets in Macau, these junkets are riddled with high rollers willing to gamble millions. The only problem in this situation is the international exchange of fiat currency is highly regulated and converting large sums of it can prove to be a tedious task. Because of this most junket operators and gamblers must resort to other methods to get what they want.
The junket operators want money and the gamblers want chips for this exchange to take place the gamblers would normally have to give the junket operators the money and these junket operators would give the gamblers their chips. However, this task is not as easy as it sounds due to foreign exchange regulations. Because of these foreign exchange regulations most junket operators had to use other means to get the gamblers their chips in exchange for money. The most common technique involves hiring agents that take money from these gamblers and in exchange issue the gambler, chips. In return for their service these junket agents are paid a commission.
You see this entire predicament is caused due to the highly regulated nature of fiat currencies. This dilemma however is an ideal opportunity for a cryptocurrency because they are decentralized, therefore cryptocurrencies do not suffer from the same regulations as fiat currencies. Dragon will use blockchain technology and their cryptocurrency to make perhaps the first ever feasible use for cryptocurrencies. You see the entire purpose of a currency is to act as a medium of exchange. For an exchange to take place there needs to be two or more parties willing to trade with each other. In this case the junkets and the gamblers are ready and willing to trade. Also, an important factor to note is in this situation the fiat currency is no longer being treated as a currency but as a commodity, much like the casino chips. The medium of exchange for these two commodities will be Dragon Token. The Casino industry of Macau is estimated to be worth around 45 billion dollars. The junkets make up 80% of that. If Dragon is successful in there endeavor then Dragon Token will become the medium of exchange for 36 billion dollars and that is just Macau Dragon has set their goal as being the primary token for all casinos all over the world.
So far Dragon has made tremendous progress. They have not only amassed almost amassed 400 million dollars but they have also made partner ships with international casinos such as the 7Luck casino.
Browse The Following Links if You Want To Learn More:
Dragon ICO Website: https://drgtoken.io/
Dragon ICO Whitepaper: https://bit.ly/drgtoken
Dragon ICO ANN Thread: https://bitcointalk.org/index.php?topic=2524680.new#new
Dragon ICO Telegram: https://t.me/DragonOfficialENG
My BitcoinTalk Profile: https://bitcointalk.org/index.php?action=profile