The USA legalizes Firelotto blockchain lottery

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2018-03-10
The USA legalizes Firelotto blockchain lottery

Firelotto lottery is called public because it works until there are people interested to play it; transparent — because of its open source code and a reliable algorithm provide impossibility of the falsification of the results.

The platform got the investment SAFT system (Simple Agreement for Future Tokens). As SAFT is actually used by the legislation of the USA on securities, instead of digital tokens of FLOT the American investors of the project will receive traditional paper documents.

In the next few days, the Firelotto team will be engaged in the legalization of the relations with the American investors, having informed the U.S. Securities and Exchange Commission. Thus, Firelotto pursues a policy of the mixed investment — as corresponding to a letter and spirit of cryptophilosophy of ICO, and traditional joint-stock, with all that it implies legal consequences and legal obligations.

It can be considered as a step towards the traditional joint-stock relations and the answer to time call — a course of the western states towards liberalization of policy concerning cryptoinvestment. So, the USA and the European Union not only aren’t going “to cut on a root” cryptocurrencies and ICO, but also begin to recognize them as absolutely lawful spheres.

Now the main Firelotto direction is four types of games. At the same time, the mechanics of the project opens the widest horizon for its application in absolutely non-gaming purposes. So, bases of a lottery can lay down in the fundraising tool — it is possible to raise funds for cultural, public and charitable projects, having just specified the exact beneficiary instead of random. At the same time no intermediaries, officials and bureaucratic procedures, only the commission are necessary to holders of tokens.

Now Firelotto sets up cooperation with large online resources through which it will be possible to participate in lotteries. When the ICO comes to an end, in the list of available games, along with already familiar to everyone lotto and instant “Roger’s wheel” (the mix of “The Wheels of Chance” and “the one-armed bandit”), there will be an oldest of the known lotteries of “Keno” in which the player should guess up to 20 numbers from 80 available and also Bingo which many people certainly played in the childhood.

 

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