People's Postcode Lottery: Manchester resident wins £30,000
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Blockchains including Bitcoin and Ethereum have commanded much attention in recent years as their value has fluctuated significantly. And while they have steadily widened their appeal, newly created crypto Lucky Block claims to have gone one step further.
It has ventured into lotteries – with CEO Scott Ryder saying that he wants to create a “worldwide lottery” that could dwarf Euromillions.
Speaking to Express.co.uk, Mr Ryder said: “We believe the lottery should not be bound geographically or tied to local financial systems.
“Instead, our focus is to develop further transparency and fairness in gaming, creating a lottery where every player has better win odds while providing a solid investment strategy for token holders while contributing to the community.”
It was once famously claimed that someone is more likely to be hit by a meteorite than win the lottery.
And Mr Ryder believes that modern gamblers are increasingly choosing games that offer better returns than legacy ones such as the lottery.
He said this has already been seen with a resurgence in the popularity of bingo – which had 1.9million players in the UK, according to research in 2016.
This desire for better odds has happened while smartphone technology has made gambling even more accessible.
Conceding that this is not always a good thing, Mr Ryder said it does mean that access to different games is at “literally everyones’ fingertips”.
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He explained: “It was only a matter of time before crypto moved into lotteries.
“It has been branded a gamble for years – especially by critics.
“Now it really has embraced that in its entirety.
“New technology has been challenging the longstanding ways of doing things for centuries.
“It was only a matter of time before crypto branched out to take on conventional gambling.
“That shouldn’t be seen as a surprise and Lucky Block won’t be the last.”
Mr Ryder also said that the growing confidence in crypto will steadily see it branch out into other sectors.
This could include everything from house sales to buying weekly shopping.
“We abandoned the Gold Standard in 1931 but people still use money,” he said.
“That relies solely on people’s faith in the currency’s value. That trust is hard to build and easy to destroy.
“Crypto – and I don’t just mean Bitcoin – has built belief in its values. It is still nowhere near where the dollar or sterling are but it is getting there.
“As that faith is built more and more people will embrace it – giving it more stability which equates to value.
“It will still take years but crypto is here to stay.”
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