Published On: Thu, Oct 11th, 2018

Kibo Lotto obtained Curaçao gaming license

KiboWILLEMSTAD - The lotto site Kibo announced that it had received its gaming license in Curaçao. Obtaining the license is certainly an important step in the development of Kibo as the first fully decentralized international platform for lotto games. The license, issued by the regulator on Curaçao, opens the door for legal interaction with players and partners in accordance with international legal norms, says Kibo in a press release.

Kibo is an innovative platform, the algorithms of which are completely built on Ethereum smart contracts. So Kibo team needed to do a lot of work in order to meet all the necessary requirements of the regulator. This included deep dive into the details of the project and audit of the platform’s random number generator with the involvement of Trisigma, which is an accredited test laboratory specializing in software testing and certification in the gaming industry.

Kibo team announced the other day that this important work is complete. This is significant not only for the operation of the Kibo platform but also for the lotto industry as a whole.

License details:

Date of receipt: July 10, 2018

Jurisdiction: Curaçao

License number: 8048 / JAZ2018–039

Despite the fact that the transparency of all draws, from buying a ticket to earning wins, is regulated by a smart contract and does not need additional guarantees, licensing of Kibo opens up new, no less important opportunities for the development of the platform. The most obvious of them is access to banking services and payment systems to provide players in the future a possibility of buying a ticket through the usual payment systems. And also access to all promotion tools and a mutually beneficial legal partnership with any representatives of the gaming market.

Kibo is not going to stop there and stated that their lawyers are actively working with regulators in several jurisdictions to obtain new licenses to maximize presence and unhindered promotion of Kibo Lotto in the maximum number of countries.

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