Dragon Coin DRG Token: Chips Cryptocurrency Kasino Global (REVIEW) ?

What is Dragon Coin DRG?

Dragon Coin is a cryptocurrency that has one specific goal; building decentralized ad currency for players and casinos and in the process, helping to bring gaming up to speed with the 21st-century world.

Dragon Coin acts as a tool for casinos, thanks to being low-cost and seamless. It is being operated by a development team (Dragon); a team comprised of members who are vastly experienced with blockchain technology and online gaming. This wealth of experience will be employed to bring the above-stated goal to fruition.

In December 2017, Dragon announced that they planned to raise $400 million; a feat that will see the cryptocurrency crowned as the one with the largest Initial Coin Offering on Earth. The goal is to be able to enter the Asian gambling market (one which they see as the fastest growing gambling market in the world) as well as China’s junket industry.

Today, wealthy individuals in China are being charged between 5% and 7% in transaction fees by the country’s junket industry in exchange for getting connected to ideal gambling casinos. With the use of blockchain technology, Dragon is hoping to lower the cost to about 1%, thereby making it easier and cheaper for these individuals to participate in their favorite past times.

About Dragon Global Chips

Macau’s gaming and gambling industry are set to change forever, thanks to a revolutionary cryptocurrency called Dragon Coin DRG. The coin will be a frictionless, low-cost and transparent alternative to the typical financial instrument. It will be a blockchain-based coinwhose aim will be to benefit everyone within its gaming ecosystem – major stakeholders and eager members of the public looking to buy its tokens.

Dragon Coin, tokenized as DRG, is an ERC20 Eth Utility token that will be of use within the Dragon’s Blockchain ecosystem. Using it, one will become a shareholder, either by investing in the system or casino players who will be participating in it. DRG tokens will be eligible for exchange with Dragon Global Chip (DGC) – chip game cryptocurrency for extra security of the blockchain.

What Necessitates its Existence

In Macau, there’s no centralized gaming facility, a factor that gives rise to the emergence of smaller independent gaming houses called Junkets. They provide the “stake” or accept the other side of the wager so that one can bet in the casinos. But all isn’t easy since if you are to bet with $1 million, there must be a similar amount offered by the other party.

Another issue emanates from cross-border regulations that limit the transfer of vast amounts of money into Macau.If it is $1 million meant to be used in gambling, one will need to use credit providers to front the amount to this country. The money will be sent in smaller bits, but the only issue is the transactional feels, 5% for each transaction.

In the end, one will receive $950k or $900k depending on other factors. This contributes to Macau’s monthly gross gaming revenue of between $2.49 billion and $3.3 billion. Of course, this model kills off many gamers’ ambitions, compared to Vegas where the amount is about $900 million.

When Dragon becomes operational, intermediaries who thrive in this business will bow out of the market. Dragon coin will allow gamers to send their DRG tokens to the junket, at the cost of about 0.5%, unlike the initial 5%. The switch will also raise what Macau receives in revenues by between $500 million and $1 billion each month.

About Dragon Token Platform

Buying, Selling and Converting DRG tokens will be possible via BTC, ETH, LTH, XRP or any other crypto partner as well as fiat currency.
Member of the Dragon ecosystem will register as account holders for KYC purposes and each user will have their Dragon wallet.
The platform will allow cross-conversion of different coin types, including DRG to BTC, ETH, LTC, XRP and any of the main cryptocurrencies of the future.
Also, there will be issuance of physical Dragon multi-currency debit cards that connects the holder’s account to ATM network and global MasterCard/Visa vendor
Members will be free to use their Dragon cards to withdraw cash after converting their DRG or coins. Also, they will be able to make deposits.

Features of Dragon Coin

DRG ECR20 Token – built on Eth Blockchain.
Transparency and Security – for junkets (casinos) and gamblers, the Secure transaction ledger promises high levels of transparency and security for their funds (tokens).
Liquidity – since DRG will be continuously needed by gamers to buy DGC (Dragon Global Chips), there will be a constant demand and thus sustainable for the ecosystem.
Winnings – convertible from DGC (Dragon Global Chips) to DRG tokens or fiat currency, depends on what the winner needs.

Dragon Global Chips DRG & DGC ICO Summary

Token sign, type – DRG, ERC20
Tokens – 500,000,000
ICO period – December 8 – December 31, 2017
Owned by its founders – 10%
Owned by advisors – 1%
Owned by Treasury, Reserves – 7%, 10%
Available for the ICO (hard cap) – 72%
Raised in the 1st week of ICO – over $1,000,000

Final Thoughts

As it's apparent, Dragon coin will help in multiple facets. While launching the ICO, even the ex-con triad gang boss Broken Tooth who had been imprisoned for vices relating to gambling was available and attested to the impact that Dragon coin would have.

Who is Behind Dragon Coin?

The Dragon team is led by Chris Ahmad (CEO) and Paul Moynan, both of whom act in the capacity of co-founders.

Dragon Coin was first formed as an idea in December 2016 and in November 2017, the developers organized a private pre-sale in which over $20 million was raised.

However, in an interview with Reuters, the development team stated that they had already been able to get in contact with four partners in the Chinese junket industry. These partners, according to them, had forked out $265 million in a private sale.

In a move that sparked controversy, a signing ceremony for Dragon Coin was attended in person by Wan Kuok-Koi (also known as “Broken Tooth”), a gang boss based in Macau who served 14 years in jail for various crimes, including money laundering, loan sharking, and attempted murder. However, the developers were quick to come out and deny his involvement in their operations or connection to their junket partners.

How Does Dragon Coin Work?

Dragon Coin works with a simple operational module, which includes the following steps:

Dragon Coin (DRG) can be purchased online at the moment. Purchase it from an exchange.
Put DRG as an exchange for DGC. If you’re looking to use Dragoon Coin in the casino, then you’ll need to exchange the DRG ERC20 coins for Dragon Global Chips (DGC). You can make the exchange at a junket or casino.
Winnings are paid out to players. If you wish, you can convert your winnings to DRG (or any other cryptocurrency). You can also get a fiat currency payout.
DRG tokens are bought back with a portion of the profits. They are burned to reduce the total supply of tokens inn circulation.

The Dragon Coin Market

Currently, there are 500 million Dragon Coins in circulation. The tokens are represented by ERC20 on the Ethereum blockchain.

Out of the total supply, junket partners will receive 53%, and early supports get 12%. The development team receives 10%, 10% goes to a reserve fund, a treasury receives 7%, the public is entitled to a public sale for 7%, and the remaining 1% goes to the company advisors.

There was a pre-ICO, which ended on the last day of 2017. By February 2018, there is an expected public crowdsale. Dragon Coin will be available on various exchanges by the 1st of January, although its first junkets will be launched in the Chinese New Year.

Dragon Coin DRG Token Conclusion

So from the above, we can draw the following:

Dragon is a unique project that is targeted at the gambling and junket industries in China and Macau. It is a frictionless technology that can be used to make deposits at casinos and player are free to withdraw into fiat currencies or even other cryptocurrencies.

With blockchain technology, the company is looking to help reduce the costs of entering the junket scene from between 5% and 7% to just 1%.

Junkets are services in China that help to connect wealthy gamblers to casinos abroad where they can engage their gambling skills, and four of these junkets have already committed to Dragon Coin.

TOKEN DETAILS

Ticker:	DRG
Token Standard:	ERC-20
Additional Token Emission:	No
Token price in ETH:	1 Token = 0.005000 ETH
Accepted Currencies:	ETH
Token distribution:	53% - Token Sale (Junket Partners) 12% - Token Sale (Early Supporters) 10% - Founders 10% - Reserve 7% - Token Sale (Public Sale) 7% - Treasury 1% - Advisors
Funds allocation:	83.3% - Deposit for Dragon Junket 3.6% - Working Capital 3.6% - Dragon Pearl Project 3.3% - 500 Global Cash Machines 3.3% - Reserve for Global Cash Machines 2.4% - Marketing/Promotion (Year 1) 0.5% - Dragon Social Wallet and Exchange