Tombola: Blockchain based platform for lottery market

Overview:
It is a blockchain based platform for the lottery market which is aiming to eliminate the third parties, manipulations and fraudulent activities, providing the cryptocurrency payments in the lottery system from all over the world in a decentralized manner, it is backed by well experienced team and advisors and run on tokenization model.

Challenges:
Lottery market is exponentially growing since 2004, and it is expected grow and captures nearly 300 billion, technology revolution is also helping the development of market, after cryptocurrencies came to existence it has created more opportunities like access from anywhere in the world, more price money.
One of the major issue in the existing lottery industry, fraudulent activities, if we look back into case of sports lottery in 2004, this was about the lottery ticket forgery another issue which was about manipulation of random number generator, there are many such type of issues happening all over the world which are plaguing the lottery market.

Solution:
Tombola came up blockchain based solution for the problems in lottery market. Blockchain ensures transparency in the random number generation. It accepts cryptocurrency tokens as payments for the lottery purchases. Its game structure uses two methods to declare the results, such as chain seed, play seed and Nonce. Chain seed is randomly generated hash and play seed is unique seed by the user and nonce sets number each game. All the game results are encrypted which ensure no manipulation in the results. It will provide transparency and security for the transactions using blockchain and smart contracts.
It uses smart contracts to provide secure transactions without need of third parties and reduces the transactional costs.

Token economy:
Tombola issues Ethereum based utility tokens called “TBL” which can be used in the internal ecosystem for the services availed in the platform.

Token details:
Token Symbol– TBL
Total Supply – 500 Million TBL
Price – 1 ETH = 10,000 TBL
Soft Cap – 25 Million TBL
Hard Cap – 250 Million TBL
ICO Date – 1st to 31st August 2018

Team:
Peter Jung – CEO
He’s also a CEO of Gloria Trading. He’s having working experience in such fields like Marketing, Fintech Industry, Finance and having keen interest in the Cryptocurrencies and Blockchain Technology.

Carl Kim – COO
He completed his graduation from Konkuk University. He also holding a position of Assistant Manager at OJC Co. Ltd. He’s having working experience in Business Development, Management and Business Strategy.

Jeans Tang – CMO
He’s also a Founder of Bench Mark Blockchain Research and Investor at Bytom. Also, a VP of Olympia Investments Ltd., and Board of Advisors at EventChain International SmartTickets. He’s having extensive working experience at Motorola and Samsung and having expertise in Software, IT, Security, Cloud Computing, Web & Mobile Development, Social Networking, Capital Markets and Blockchain Technology.

Verdict:
Pros:
• Social media hype is excellent, its telegram community has 20k+ members
• Whitepaper has detailed explanation about the project
• Partnered with Atom Capital, Molecular Group, Geekbeans Capital, Block Dream Fund, Madison Group, Hong Kong Blockchain Association, CoinX etc.
• They have beta version of their platform available with them
• Advisory team looks great, it has members from different fields IT, ICOs and Blockchain Technology, Marketing, Finance.
• Core team members are experienced in reputed companies like Motorola and Samsung, and experienced in different fields like T, Security, Cloud Computing and Blockchain Technology

Cons:
• No detailed information about the team members
• Roadmap is unclear, it shows vison till 2019 Q1 Only
• Website doesn’t have any information about the project details

Links:
Website – https://www.tombola.io/
Whitepaper – https://www.tombola.io/tombola_whitepaper_english.pdf
Telegram: https://t.me/TBL_tombola
Bitcoin talk: https://bitcointalk.org/index.php?topic=4691540
Facebook: https://www.facebook.com/TOMBOLAofficial
Twitter: https://twitter.com/TOMBOLA_COIN

Bitcoin talk Username: anushkamehta0902
Bitcoin talk profile link: https://bitcointalk.org/index.php?action=profile;u=2039767
ETH address: 0xd1c62C22C078A0C6B1E42F7200F0b082EE81a64a