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Following news that the latest crypto coin that would change the face of online gambling, Dragon Coin, is an apparent scam (or at least being used to perpetuate scams), along comes MECA Coin.
News flash: The house always does win when it comes to gambling. Sure, the better players come out on top more often than not. For every top player there are a few big losers (or a lot of small time losers).
The crypto online casino craze lives off the mantra: "The house doesn't always win". If this were the case, the "house" would be out of business pretty fast and a number of folks will be screwed in the process.
MECA supposedly leverages blockchain’s distributed nature to return power to the players. The house edge is a mere one-tenth of the industry average.
From Investing.com:
Instead of operating the casinos itself, the company acts as a platform that allows users to become “master” nodes which can host their own casinos.
This innovative structure means that gamers can choose which casino they play at, resting easy knowing that any information they need is stored directly on the blockchain, and is not falsifiable. The result of this, as stated in the company’s white paper, is that instead of customers who are constantly betting against the house, users are seen as business partners and treated as such, removing the inherent conflicts in a client-provider relationship.
Additionally, users will have full ownership of the virtual casinos they operate through MECA Casino’s Virtual Casino Ownership System (VCOS). This means that they not only run their virtual casinos but also profit from them in a 60%-40% split with MECA and can even exchange casinos with other master nodes via smart contracts.
Sort of sounds like an online casino affiliate deal if you ask us.
MECA Casino, and its parent company CRYPTO MECA were founded by Ben Moonsoo You, a veteran of the educational technology field, and CEO of ME2ON VR, a leading online casino company; and Myeongkyun Kim, another veteran of ME2ON VR and former president of Gamehi Japan corporation.
And for those of you who follow Gambling911.com regularly, you probably have already guessed, there's an ICO for that. An ICO is an Initial Coin Offering.
A total of 2 billion MCA tokens will be offered across both fundraising events, supposedly this month (August 2018). No word yet on a specific date.
- Aaron Goldstein, Gambling911.com
