Government Lottery CEO joined Fire Lotto

Alexander Zasypkin, CEO of GOSLOTO - Russian government lottery has become the Business Development Director of Fire Lotto 
29 January 2018   3083

FireLotto is new Ethereum based lottery. All transactions via smart contract. Fire Lotto can operate as a global blockchain protocol, but can also be offered to governments of specific countries as a solution to challenges to ensuring a fair lottery.

And the team has some great news to share. Alexander Zasypkin, CEO of GOSLOTO - Russian government lottery has joined the team as a Business Development Director. 

We've managed to talk with Alexander and asked him to share his thoughts. 

The evolution of traditional lotteries in the blockchain-based lottery can be interfaced with vinyl records that were reborn and became CDs.

The essence of the records remained - to play sound files, but at the same time people received a number of undeniable advantages: convenience, security, ease of use and these are just basic advantages.

So with lotteries, the basic properties of the lottery will remain: to experience luck, risk, get emotion and win, and even to break the jackpot, but other functions will change.

With the use of blockchain technology, participants will get more transparency; they don't need to rely on someone who will control the conduct of the drawings, you can check everything yourself! The convenience of participation in the lotteries and the credibility of them will increase.

In the next 2-3 years, the blockchain technologies will be applied everywhere, and people will start to learn a new reality and as a result create new convenient services in this area.

Entertainment, and the lotteries are the incompatible part of people's lives; it will evolve along with the development of this area.
 

Alexander Zasypkin

CEO, GOSLOTO

BDD, FireLotto

Well, that really fascinating. Looks like FireLotto is the first ICO with professional of this level on the team. Great news!

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3 ICOs of Extrabit banned by Alabama Securities Watchdog

Alabama Securities Commission (ASC) has ordered alleged cryptocurrency mining firm Extrabit to stop its token sale offering in the state
25 May 2018   97

The U.S. state's securities regulator, the Alabama Securities Commission (ASC), has supported its colleagues in Texas and New Jersey in hitting out at ICOs that are soliciting local citizens. The cease-and-desist order which was published yesterday  claimed that the agency has ordered purported cryptocurrency mining firm Extrabit to cease its token sale offering in the state.

The ASC declared the company has been illegally begging Alabama investors with what it considers an unregistered securities offering after it announced its token sale on the website of WSFA, an NBC-affiliated TV station recognized in the state capital, Montgomery. While presently the online advertisement appears to have been taken down, the agency said in the order that the firm originally claimed that investors in the pre-ICO phase could buy Extrabit's token "EXB" at half price.

The advertisement claimed that in order to take part in the pre-sale, the user should invest $20,000 and after the purchase, the tokens will be sent to MyEtherWallet within 48 hours. Then, Extrabit's white paper states that, since the firm generates its profits chiefly from mining bitcoin, zcash and monero, it pledges a 185 percent return on investment every quarter for investors who maintain a positive balance in their EXB wallet.

As well as offering unbooked securities, the ASC said the project made "materially misleading" suggestions to deceive investors. Extrabit is not the only token project that is targeting residents in Alabama. A Google search for "token sale" on the WSFA website currently comes up with over 200 press release-style ads from various ICO projects. 

The ASC has also checked two other token sale projects, called LEV and Platinum, with cease-and-desist orders entered on May 2 and May 18. Like with Extrabit, the agency charged the two projects of selling unregistered securities in Alabama while making vaporous promises to potential investors over the likely returns on investment.