@wagerr is set out to become a decentralized sports book that changes the way the world will bet on sports. Obviously this is a huge market and if Wagerr succeeds to take part in it, it will be very likely that it will become very successful. Up until now the team has delivered the blockchain, supporting wallets and masternodes but the betting part of it is yet to come.
The Wagerr Team has been extremely busy over the last few months and I'm glad to be able to share some news again:
They are now testing head-to-head betting and on-chain betting on the Wagerr Privatenet, in preparation for the 2018 World Cup!
They have announced that we can expect to either bet in pairs against each other through matched head to head bets, or directly on the blockchain, which will mediate the collective payout liability. The Wagerr team believes that on-chain betting is the most feasible starting point for Wagerr betting during the 2018 World Cup.
They are working on the much anticipated Oracle Masternodes for the World Cup!
The Oracle Masternodes function as central checkpoints to achieve super-consensus on event results, thus triggering proper payouts. Normally they would be run in a decentralized manner but the team believes that the best way to deploy the Wagerr betting layer at this point in time is in a modular fashion. Therefor, the first Oracle Masternodes for the World Cup will be centralized, and run by the team which is understandable in my opinion but it could be seen as a negative move. Which is why I believe they have announced that the scheduled portion of fees generated from Wagerr Network betting, and earned by the centralized Oracles, will initially be distributed to eligible (active) masternodes, rewarding those who have supported the network in its early stage. This is a great move by the team rewarding all true Wagerr supporters holding masternodes and I'm very glad they will do this.
Wagerr is also working on licensing!
Other great news is that Wagerr has been in negotiations to license the company as a regulated gaming business. It will positively position Wagerr in the current online gaming industry while working on rolling out a fully decentralized system. Licensing will be huge deal as trust in this industry is very important.
I'm hoping Wagerr will deliver on time for the World Cup.
As Wagerr says: "Betting belongs on the Blockchain... And that’s exactly what the team intends to make possible for the 2018 World Cup!"
I sure hope that they will deliver on time because this is one deadline that is fixed. History has taught us that Wagerr has not always delivered what they were set out to do on time, but there were no big events correlated with those milestones. With the World Cup it's different of course and for the industry and to be seen as leaders in betting on blockchain technology it will be a huge deal if they make on-chain betting possible.
To the @wagerr team: keep up the good work!
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I'm not concerned about the temporary decentralization, but I am concerned on the licensing announcement. To be licensed they typically have to adhere to the regulations of a particular government and will need to have KYC, which is not what consumers want.