Have you heard about the Kibo technology? Hold on to your seat because things are about to get futuristic. The technology allows just about anyone to run the lottery. While this may seem like an exciting idea at first, it’s easy to see how the concept can be abused.
On top of that, there are many questions that remain unanswered about the project and its founders. While Kibo does have the potential to revolutionize the lottery world, a few aspects of the development remain quite shady. So, the main question is to Kibo, or not to Kibo?
The Cool Concept of the Kibo Technology
Kibo allows for the creation of 100 percent decentralized lotteries that don’t feature any sort of governmental or corporate involvement. If you’re familiar with the concept of bitcoins, you’ll get at least some idea about what Kibo is.
The franchise system gives just about everyone the power to run a decentralized lottery (not regulated by a governmental entity or another institution). The aim is the market liberalization, just like in the case of the virtual currency (Bitcoin) that took the world by a storm a few years ago.
Kibo Lotto already has a website that announces the fact that the decentralized lottery system will be coming soon and it will rely on a massive launch based on the efforts of affiliates across the globe.
According to the official presentation, Kibo is a smart-contract based (Ethereum) system. Since the entire process takes place within the same platform (a network of users), the Kibo makers claim that the system is one of the most effective ways to eliminate fraud. In addition, the opportunity is available 100 percent of the time.
Electronic money is used to make the payments, making the lottery global. Payouts are instant and without fees, regardless of player nationality.
All Kibo affiliates are connected to each other via the same platform. This is the backbone of the decentralized organization, making a state entity or any other regulatory body redundant. There are literally infinite options for social game development, which means that Kibo could soon be offering quite a lot more diversity and convenience than national lotteries.
A Tale that Gets a Little Darker
This all sounds pretty cool and utopic. If you do a little bit of digging beneath the surface, however, you may unearth some questionable information.
The individuals behind the creation of Kibo are also responsible for several more projects like WCM777, iButler and TeleksFree. WCM777 is an MLM opportunity, which later on came to be known as Kingdom 777.
In 2014, operation of the company came to a halt in the US after the US Securities Exchange Commission interfered. WCM777 was labeled a Ponzi scheme that had managed to generate more than 65 million dollars since its launch in the spring of 2013. According to the official statement, the funds were generated through false advertising and investors being promised a return after getting others involved in the network.
Investors were also given an option to acquire a new currency that was to become widespread in the near future.
The company behind WCM777 and Kibo came out with an official statement that it had no clear concept about the main reason for operations being halted in the US. According to the statement, it was impossible for the average person to assess whether the opportunity was a real and legitimate one.
This background information raises logical questions. Kibo will once again work as a franchise that involves a network of affiliates. Whether everyone will get a chance to benefit equally from the opportunity is very difficult to tell. Kibo makes promises of earning a passive income via lottery creation, but it may turn out that things aren’t as simple as they’re being presented.
Legitimate Option for Lottery Players?
According to Kibo founders, the lottery’s code will protect players against the risk of human error or fraud. Still, a lot remains unknown about the system to make concrete claims in the realm.
The MLM concept of Kibo is still the most troubling part of the concept. At the same time, it’s nothing but logical to ask questions about the level of protection that players will be offered, the manner in which complaints will be handled and the efficiency of the payments relying on a digital currency.
There are literally dozens of forum threads about Kibo. People are worried about the opportunity is a scam and the terms/conditions are not stated really transparently. While a Kibo support team member is doing an excellent job in terms of responding to the concerns, it’s still not clear how the 100 percent legitimacy is going to be guaranteed.
It’s also not clear how some of the affiliates will rely on the opportunity and whether they’ll try to abuse the system for personal gains.
Final Verdict: To Kibo, or Not to Kibo?
There’s a reason why state-run lotteries are still the most popular option out there. Even if the private entities are involved in lottery organization, they adhere to strict guidelines and rules. Fairness is guaranteed through constant inspections and conditions that apply to all of the players.
Kibo does sound like the concept of the future. There’s a lot of promise in the idea and it can open up a completely different market for lottery enthusiasts. The idea of a self-regulating system that eliminates the risk of human error currently sounds too good to be true. Unfortunately, it may be so.
For the time being, it may be a smart idea to avoid Kibo until its makers provide more information and answer the legitimate questions raised about the legitimacy of the program.
Whether you want to join Kibo as an affiliate or a lottery player, you may want to stick to alternative moneymaking options for the time being. The background of the platform’s creators is a bit troubling. The vague description of the idea is even more so. Right now, you have dozens of lotteries to choose among. Online lottery agents make it possible to enjoy the amazing diversity without jeopardizing your hard-earned income. Make use of such options!