Current online football betting platforms face transparency and security issues due to centralization.
This is the total amount allocated to Decentralized Betting Platform on Cardano : Revolutionizing Wagering with Transparency and Security.
Adrien Vallery
Leveraging Cardano's capabilities to develop a decentralized betting platform, providing transparency, security, and a user-centric experience.
The project is dependent on partnerships with Cardano Foundation, IO Global, and potentially other blockchain technology partners for integrations and ecosystem support. These collaborations are essential for access to technical expertise, network integration, and eco-system alignment, enhancing the success and adoption of the decentralized betting platform.
The project outputs, including the decentralized betting platform's software, smart contracts, and related codebase, will be released under an open source license. This decision aligns with Cardano's commitment to transparency, community participation, and fostering a collaborative environment for innovation within the ecosystem. By making the project's output fully open source, we aim to encourage community contributions, validate the platform's integrity, and drive wider adoption in line with Cardano's principles.
SDG1. End poverty in all its forms everywhere
SDG9. Build resilient infrastructure, promote inclusive and sustainable industrialization and foster innovation.
Problem
Once upon a time in the world of betting, a major problem plagued the industry: lack of transparency and security. Traditional centralized betting platforms left users susceptible to rigged odds, unfair practices, and data manipulation. This not only resulted in a loss of trust among bettors but also inhibited the potential growth and widespread adoption of the betting industry.
In the midst of this problem, a team of forward-thinking developers is conceptualizing a decentralized betting platform leveraging the power and innovation of the Cardano blockchain.
This groundbreaking solution aims to revolutionize wagering by infusing transparency, security, and trust back into the ecosystem.
The actual situation of the betting industry was marked by widespread dissatisfaction among both bettors and operators. With centralized platforms, users had little to no control over their funds and were at the mercy of the platform's decision-making process. Moreover, transactions were slow and expensive, and the lack of transparency allowed fraudulent activities to go unnoticed.
Solution
To address these challenges, the proposed solution, the Decentralized Betting Platform on Cardano (DBPC), would leverage the unique features of Cardano to provide a secure, transparent, and efficient betting environment. By utilizing smart contracts, the DBPC would eliminate the need for intermediaries, leading to reduced transaction costs and faster payouts.
The DBPC would ensure transparency by recording all transactions on the Cardano blockchain, making them publicly available and immutable. This would prevent any manipulation of odds or tampering with results, restoring trust within the industry.
Furthermore, the DBPC would incorporate a user-centric approach, allowing bettors to have full control over their funds. Their funds would be stored in secure Cardano wallets, eliminating the risk of centralized exchange hacks or misappropriation of funds. With the transparency provided by the blockchain, users could verify their bets, ensuring fairness and reducing disputes.
To incentivize participation and foster a vibrant ecosystem, the DBPC would introduce its native token, the BetCoin (BT), which would be used for placing bets, staking, and earning rewards. This would encourage community engagement and attract a wide range of bettors and operators to the platform.
By leveraging Cardano's rigorous security measures, such as its multi-layered protocol and formal verification techniques, the DBPC would provide an unparalleled level of security, safeguarding user data, and protecting against potential cyber-attacks.
Summary
The proposed Decentralized Betting Platform on Cardano aims to revolutionize the wagering industry by addressing the critical challenges faced by both bettors and operators. By leveraging the transparency, security, and efficiency of the Cardano blockchain, this solution will restore trust, enhance user experience, and unlock the full potential of the betting industry. Let us join hands in creating a fair, transparent, and decentralized future for wagering on Cardano.
The proposed decentralized betting platform on Cardano brings forth numerous positive impacts for the wider Cardano community.
1. Transparency: The platform revolutionizes the betting industry by introducing a transparent ecosystem. Through the implementation of blockchain technology on Cardano, every transaction and bet placed on the platform becomes traceable, verifiable, and indisputable. This ensures that all participants have complete visibility and can trust the integrity of the betting process.
2. Security: With the decentralized nature of the platform, users will be assured of enhanced security for their personal and financial information. By leveraging Cardano's advanced cryptographic protocols, the platform safeguards user data, preventing unauthorized access or manipulation. This not only protects the users but also builds trust within the wider Cardano community.
3. Fairness and Accountability: Traditional betting platforms often face accusations of biased outcomes or hidden algorithms. However, the proposed solution on Cardano eliminates such concerns by employing smart contracts and decentralized governance. Every aspect of the betting process, from determining odds to settling bets, is executed autonomously and transparently through programmable code. This ensures that outcomes are fair and unbiased, fostering trust and accountability within the community.
4. Economic Empowerment: The decentralized betting platform opens up new opportunities for individuals to participate and benefit from the betting economy. By leveraging Cardano's scalable infrastructure, users can engage in betting activities regardless of their location or economic background. This inclusivity allows for a more diverse and vibrant community, benefiting individuals by providing additional income streams and economic empowerment.
5. Community Growth: By introducing a decentralized betting platform on Cardano, the wider community can thrive and grow. The platform encourages active engagement and participation, fostering a sense of community ownership. As more users join, contribute, and provide feedback to improve the platform, the Cardano ecosystem becomes more robust and vibrant, attracting further adoption and collaboration.
The proposed decentralized betting platform on Cardano brings forth a range of positive impacts for the wider community. These include transparency, security, fairness, accountability, economic empowerment, and community growth. By revolutionizing the betting industry, the platform contributes to the overall success and advancement of Cardano, benefiting all stakeholders involved.
Goma Wada Hub has so far:
· Ecotourism expeditions in the national parks and protected areas of the DR Congo
· 3 blockchain developers, 1 AI developer and technical professional
· Cardano Stake Pool running in Goma
· Hosting Cardano summit 2021 and 2022, watch here.
· Plutus and Atala-Prism Project based learning, see it here.
· See here our Fund 8 achieved project
· A project with NFTs associated with trees as products; ongoing project.
Research and Planning (1 Month):
Design and Prototyping (1 Months):
Development and Implementation (5 Months):
Testing and Quality Assurance (2 Months):
User Acceptance Testing (UAT) (2 Months):
Final Verification and Sign-off (1 Months):
Boaz BANDU BALUME
Project Management
Proposal Lead. Boaz is a graduate in environment and sustainable development, this person assumes the role of team leader at the Goma Wada Hub and serves as a stake pool manager. His deep fascination with blockchain technology motivates his enthusiasm to actively participate in the captivating journey of Cardano. Additionally, he contributed as a co-proposer in F8 and F9, fulfilling the role of a NFT project coordinator in F9, and serving as a challenge team member in F10. And he is onboarding youth from Goma City in DR Congo on blockchain in general and Cardano in particular translating content in French. From March 2023 he is working on an analysis document for African stake pools.
https://www.linkedin.com/in/boaz-bandu-401428204/
Martin Musagara
Research and documentation
Martin is a graduate student at ISDR/GL (www.isdrgl.org ) Passionate about Blockchain technology, he organizes training for local students at the Goma Wada Hub, as part of the Catalyst project and PAs training. He is also the leader of the Goma stake pool marketing team. Martin is the author of several articles on the environment and sustainable development.
https://twitter.com/martin_musagara
https://www.linkedin.com/in/martin-musagara-m-b0139422a/
Innocent Akilimali (Cizungu)
Software Developer
Akilimali has 7 years in software development with expertise in Java, Flutter, NodeJs, Express, React, and Web 3.0 based on Cardano. He currently works as a software development consultant at DEPOT PHARMACEUTIQUE MAMU. Akilimali is also the technician supporting the Cardano Stake Pool. He is a technical analyst within ISDR/GL (www.isdrgl.org) and holds a degree in computer science from ISIG (https://www.isig.ac.cd/). With experience in front-end and back-end developments.
https://github.com/Innocent-Akim?tab=overview&from=2023-07-01&to=2023-07-09
https://www.linkedin.com/in/akilimali-innocent-7649951a8/
The costs of the project represent value for the Cardano ecosystem through a harmonious balance of innovation, technological advancement, and sustainable impact. These costs are justified by aligning with industry standards, development complexity, and comprehensive security measures required to deliver a decentralized betting platform. Moreover, they reflect the substantial skill and expertise needed for protocol development, smart contract engineering, and user interface design in line with Cardano's commitment to excellence.
The project's costs are based on a thorough analysis of technology requirements, development timelines, and anticipated outcomes. They are proportional to prevailing freelance rates and industry benchmarks for blockchain platform construction, while also factoring in the specialized nature of decentralized applications development. The investment in security measures, such as robust code auditing and encryption protocols, underlines the commitment to ensuring the integrity and resilience of the platform. Overall, these costs represent a sustainable and impactful investment in fostering user trust and driving innovation within the Cardano ecosystem, ensuring that the finalized product not only meets but exceeds industry expectations.