Apart from Cryptocurrencies, gaming and betting seem to be the most Blockchain technology application at the moment. The technology has a vast potential to transform this industry in variable ways.
Blockchain’s tendency to eliminate the third party, settle payments promptly and prevent fraud positions it as a quintessential game changer for the gaming and betting industry.
Estimates out there indicates that the industry is about half a trillion dollars per year. Online gaming alone is expected to increase by 50% in the next five years to an annual value of $75 billion.
Kamari, an Ethereum Token, is building a digital ecosystem for the over one billion people across Africa with lotteries, gaming, sports betting, and a payment platform centred around Kamari Coin (KAM). QBITtimes spoke to Christopher Cleverly, CEO of Kamari about the project.
Cleverly explained that they have an existing lottery, gaming, and sports betting licenses across multiple countries in Africa that will allow them to reach hundreds of millions of potential customers right away.
What Makes Kamari Distinctive
Currently, there is a deluge of games platforms out there in Africa, however, Cleverly thinks Kamari is different from the others. “Kamari has existing partnerships that will allow us to exclusively begin marketing our products to hundreds of millions of adult consumers,” he said.
The CEO intimated the underlying technology of blockchain and distributed ledger technology (DLT) of the project allows for an unparalleled level of security and transparency for the Kamari platform. Besides, he indicated they would be integrating with leading blockchain platforms and technology providers very soon.
Africa As A Target Market
Commenting on why Africa as the focused market, he stated:
“I have been in business in Africa, most of my adult life. It is my passion to work in Africa and help solve the continent’s problems through sustainable and equitable means. The opportunity available to Africa now is enormous. With population growth booming and new investments in infrastructure present Africa with a chance for tremendous growth. The low levels of trust in government can also be solved by ledger technology, so it makes Africa a fascinating arena to utilise blockchain, and bring economic prosperity on a level we have never seen before.”
Short Term Plans
The CEO understands licensing, and regulation is the hardest part of the entire business but believes Kamari has a head start because of the experience and connections of the founding team. “It is by far one of the arduous steps, and we have already taken care of it,” he emphasised.
The project’s short term goal is to ramp up their marketing initiatives in local markets and globally alongside well-recognised companies. “As we roll out Kamari over the next 18 months in the countries we have targeted, we plan to introduce over 100,000 physical POS systems that will allow people to purchase KAM and participate in our games and lotteries,” Cleverly revealed.
Disrupting Gambling In Africa
In Kamari’s whitepaper, it is asserted that the platform will permanently disrupt gambling in Africa for 1.2 billion people. Responding to how exactly they are going to do that, he remarked:
“One way that we will disrupt it is by allowing for the development of a Pan-African lottery, which can fund a multitude of infrastructure projects. By creating a compliant, multi-national network, we will be able to unite separate systems together into one.”