Dragon- Will the Dragon Global Chips rule Macao Junkets?
In my earlier posts, I covered the ambitious Dragon Project and some of the attractive propositions of the DRG token. Today let's discuss Dragon Chips. What are Dragon Chips and how are they different from the "physical" chips that you normally associate with casinos?
Physical Gaming Chips/Casino Token
These are small disc-shaped objects made of plastic material or colored metal. They are the default currency in Casinos all around the world. Gamers acquire these chips in exchange for their cash at the Casino tables. These gaming chips are considered to be an integral part of the casino/junket environment and replacing them with any other kind of currency or cash would be considered as extremely undesirable by the global gaming community. In the existing Junket system, these purchased physical gaming chips are usually non-negotiable, meaning they cannot be redeemed for cash or other prizes, the gamers need to stake all the chips at the table. However, winnings at the table are handed out in negotiable chips that can be cashed out at cashiers table.
Dragon Chips or DGCs
One of the unique propositions of the Dragon ecosystem is the introduction of a Digital utility token called Dragon Chips or DGCs that are directly exchangeable for physical gaming chips in Dragon Junket and all of the associated junkets. The Dragon Chips can hence, be described as "virtual" chips that would be used to avail the unique gaming experiences within the Dragon Junkets. And yet, one would have to use non-negotiable physical chips at the table because playing with them is an integral component of overall positive gaming experience. DGCs may be of different types with each type having its value pegged to a specific FIAT currency. For example, DGC-HK is one kind with its value pegged to Hong Kong Dollar. To buy DGCs one will need DRG tokens. The DRGs, on the other hand, will be available 24/7 through the in-house Dragon exchange, or various other exchanges, where they trade.
"Playing with physical chips is still considered a key feature of the collective enjoyment, excitement and practical convenience of real-time gaming in casinos"
Quote by Dragon Team
In a Dragon Junket the gamers can buy DGCs and/or "cash in" their winnings to receive DGCs. Dragon customer service desk will facilitate this by using smartphone NFC protocol or ‘gamer-cashier’ wallet to wallet transfers over mobile data/Wi-Fi. In traditional junkets, it is very difficult for a gamer to bring in additional stake money without huge risks, and the entire process can be very time-consuming. But DGCs can immediately be swapped for the physical gaming chips. The high fungibility of the Dragon Global Chips will ensure an easy and comfortable experience for gamers within the Dragon Junket and the associated avenues.
It should be noted that the proposed Dragon Junket will only accept Dragon Global Chips as a form of internal gaming currency. This rule would be extended to all of the Dragon affiliated gaming venues, making the Dragon Chips a state-of-the-art virtual gaming currency. Dragon envisions to extend its services beyond Macau to international junket markets, which will, therefore, give the DGCs global recognition.
Read my original article explaining the Dragon Platform, DRG Token and the Dragon Team in detail Here.
Disclaimer: I am not a financial advisor. This post intended as a product review and not an investment advice
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To learn more about the project & to get involved in the ICO visit the Dragon Coin website
My BitcoinTalk Profile — https://bitcointalk.org/index.php?action=profile;u=1404731
White Paper — https://s3.amazonaws.com/drg-token/Whitepaper-Dragon.pdf
Telegram (Eng) — https://t.me/joinchat/FSgY4RI3tNfalmD2sbIZRg
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friend @magpielove thanks for the information since I had no knowledge of how these chips were handled greetings
@luis149 Cheers!
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