A Company which is based in Macau, headed by former international CEO Kennis Wong. He is a part of project to raise $1 Billion through an initial Coin Offering (ICO), basically to fund a blockchain Powered Casino Gaming Club.
De Club International Company Limited of Macau, recently posted about this in their Website and said, “Lengthy and Costly payment processing between flat currencies and chips as well as the general lack of trust in the casino gaming industry.. A thing of the past”.
According to Club’s plan, A Malta based company called Wide Rich Global Company Limited will issue 20 billion ‘DEC’ tokens, which will fund the acquisition of De Club, which then will “acquire a Macau Junket Promoter license and several land based casinos” not only based in Macau.
The Company explained that DEC will be a cash based token and will be convertible to various flat currencies. “The Prototype of tokenized online casino is expected to roll out in early 2019”, the Newspaper said. Pre Sale of the tokens is also beginning on November 15.
De Club has also said that, it will look for alternatives, “If Ethereum network congestion drags the speed of transactional to an unbearable degree”. BCH (Bitcoin Cash) is one Cryptocurrency on which tokenization is being explored by blockchain research and development firm nChain.
The DEC App is planning to allow for token holders to host their own online games, “We Will design a dedicated mechanism so that DEC holders can crowdfund through smart contracts and earn money from these regulated and licensed table games as hosts” the whitepaper read.