China-based startup to use blockchain for online gaming

Monday 26 January 2015 00:07 CET | News

Play, a China-based startup team has gone public as a decentralized autonomous company (DAC) on crowdfunding platform

In its prospectus, Play claims it offers a third-party verifiable mechanism to ensure randomness and fairness for gamers by placing the games logic on a blockchain. This would remove the need for trust in centralized institutions.

The startup will also offer a platform to aggregate all games using its proprietary technology, and an in-game assets-trading platform to make tokens, props acquired from different games and Play’s crypto-shares exchangeable.

The project will not take the form of a company, in the formal sense, meaning it will not be subject to regular company laws, but will instead be governed purely through the alignment of incentives.

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Keywords: online payments, digital payments, cryptocurrencies, online gaming, blockchain
Categories: DeFi & Crypto & Web3
Countries: World
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DeFi & Crypto & Web3

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