Startup Idea: Decentralized Gambling Platform
Not my day job. But gambling. Things like daily fantasy sports and sports betting in general. I used to be able to play poker and bet on sports on sites like full tilt etc. Ever since they allowed themselves to be regulated out of existence millions of people like myself have lost income. I believe there is away to bring gambling back, without much risk. Distributed networks like full tilt where a person has to download software or an app to play have been around for a while. Doing this as a company poses many risks when dealing with poker or gambling in general. * regulations- legality of the market itself. *customers funds - holding funds is dangerous itself. *banking - unless you have lobbying powers there is no way for a company to hold a banking relationship. I believe I have found a solution to many of these problems. I am not a lawyer and do not know if these are actually legal or not. I believe that with a *decentralized, *distributed, *open source network. You could create a profitable gambling company. My idea is to use bitcoin in the software where you are not responsible for customers fund. Let people gamble on a peer to peer basis. To make this a trust free market, in the source code you could have users use your 3rd party website to verify sports scores or daily fantasy ranking. There is a company called 21.co that has code that requires your to send a small fee for an api call. This is all done with bitcoin. This is a small look at some of the things that are possible. I belive this industry is ripe for disruption and with bitcoin and new technology it is now available. Id love to chat more if this is something that interests you. (view contact info). I have been passionate about this new technology for several years and am pursuing this idea but I lack a lot of the skill to make it happen.