The convergence of blockchain, cryptocurrencies and esports, represents the future of wagering. The integration of a token into the Skrilla platform delivers four key benefits:
Fees are driven by intermediaries such as banks and financial middlemen, who charge a premium to process ‘high risk’ wagering transactions. Transactions that occur on a decentralized blockchain, largely eliminate these intermediaries, thus reducing fees. This will cut operating costs and allows us to pass on the savings to members through increased prize pool payouts and improved odds.
The token’s use as the global unit of exchange within the platform, rather than a selection of regional currencies and siloed betting markets, allows for cross border prize pools and socialisation, increased liquidity, and better market based pricing.
A decentralised P2P wagering ecosystem requires both a group of engaged users at scale, as well as incentives to maximise the network’s value for all members. The automated distribution of work tokens, to members and affiliates, for delivering desired behaviours (activation, retention and referral) enhances network effects for the benefit of all.
Trust and Transparency
A blockchain based wagering platform provides trust through the recording of immutable transactions. This provides a level of transparency, prevention of tampering and auditability, previously impossible for a wagering operator, and further strengthens the customer protections Skrilla already have in place as a licensed and fully compliant regulated operator.