A Blockchain Enabled, Sports Community & Gambling Ecosystem

The PlayChip is set to become the universal token for sports betting, gaming, fantasy sports, and eSports in an operating business with over one million players on seven platforms in 70 countries.

PlayChip’s mission is to deliver the world’s biggest incentivised, blockchain-enabled sports community and gaming ecosystem.

The PlayChip is set to disrupt the US$3 trillion unregulated gambling industry by providing unparalleled trust and transparency, ease of use, lower fees, and provably fair betting environments. The introduction of the blockchain will see the PlayChip offer a superior experience to traditional sports betting systems.

Daily Fantasy Sports (DFS), eSports, and online gambling are flourishing industries. The DFS industry enjoys a steady US$4bn annual turnover while global online gambling turnovers are forecasted to exceed US$59bn in 2020. Global gambling turnovers are estimated to be as high as US$3 trillion in unregulated markets.

At present, the PlayChip serves as a rewards token for playup.com, with a fixed value of US0.01. Players can convert the current PlayChip to rewards vouchers with affiliates including Mastercard and Amazon.

Following the migration of the PlayChip to the blockchain, the PlayChip will serve as the universal gaming token for seven independent sports betting, DFS, and gaming platforms with a combined user base of over one million and exceeding US$430 million in annual turnover.

Players will be able to use credit card, PayPal, bank deposit, or a range of cryptocurrencies to purchase PlayChips within the PlayWallet and PlayXchange. PlayChips can then be seamlessly transferred between any of the seven gaming platforms to participate in DFS, sports betting, eSports betting, or table games such as poker. Winnings are then able to be easily cashed from PlayChips back into credit card, PayPal, bank deposit, or cryptocurrencies such as Bitcoin and Ethereum. The PlayChip platform presents an all-in-one frictionless solution for fast, fun, and easy gaming and sports betting.

Due to the high volume of transactions that can take place in DFS and sports betting, the technology supporting the PlayChip must be scalable and fast. A robust internal network is being built to handle the high frequency transactions of PlayChip’s distributed partners, which currently number in the thousands per minute. Timing in DFS and sports betting is crucial due to changes in conditions and late changes to player profiles, so it is important that players of the PlayChip have a network they can rely upon. The PlayChip offers an off-chain engine linked to a public blockchain that will provide players with high transaction speeds and the confidence to use their PlayChips securely in real time without fear of bottlenecks or network lag.
SRC

1) Introduction

The PlayChip Ecosystem is being developed to
capitalize on market opportunity characterized by
the following:

• currently no global solution for online gaming platforms to load and cash out gaming chips using reliable and timely methods for transfer to location and location currency.
• currently no solution for movement of gambling funds in a transparent manner, where commissions for gaming and money movement are clearly recorded.
• currently no crypto blockchain solution for gaming funds that incorporate trust and transparency of a blockchain based technology.
• currently no integration to third party gaming environs and third-party crypto exchanges via application programming interfaces (APIs), and blockchain technology.
• currently no solution to utilise token metadata or Smart Contracts for current and future regulation applicable to online gaming.

The development of the PlayChip is a natural progression for the dynamic and ever-evolving gaming industry. Due to the ‘trustless’ nature of Smart Contracts, and speed and autonomy of blockchain networks, it is envisioned that the majority of industries will adopt a blockchainenabled payment system in future. The PlayChip Ecosystem aims to be at the forefront of change hence investment in blockchain technology to drive its solutions.

2) PlayChip Ecosystem

The PlayChip Ecosystem integrates participants to enable operation. Each participant isdescribed below:

• Players – online gamers globally use their smart device and PlayChip to access all services offered by the PlayChip Ecosystem.
• Partner Gaming Platforms – providers of online gaming experiences integrated into the PlayChip Ecosystem to provide
  additional services to PlayChip Ecosystem users.
• Global Crypto Exchanges – partner global crypto currency exchanges that allow players and investors to trade PlayChips and exchange to local currency as and when they choose.

The PlayChip Ecosystem is the engine that drives this innovative gaming platform. The componentry is described below. The choice of public blockchain technology for the Ecosystem player interface and “off-net” technology choice for the gaming platform interface is based primarily on a need for higher transaction speed in backend processes. Blockchain technology is evolving rapidly, however not yet ready for a stable backend solution. Thus, the PlayChip Foundation has chosen the architecture for the first release of the PlayChip Ecosystem.

It is envisioned that a Player will only carry out one ‘Know Your Customer’ (KYC) onboard process to satisfy global regulation and Anti- Money Laundering (AML) regulation. In other words, the same information is able to satisfy both gaming and crypto regulatory environs.

3) PlayChip Ecosystem Features

The key features that make for a compelling case for both Players and game providers to adopt PlayChip and its Ecosystem are described below.

• Customer KYC
• Customer Onboarding Process
• Business, regulatory and customer checks
• Loyalty Schemes and Bonuses
• Provable Fairness and Integrity
• Global Solution
• PlayChip Future Roadmap

In summary the first iteration of the PlayChip will utilise many different aspects of blockchain technology, and as the technology evolves more features may be applied to the PlayChain.

4) PlayChip and Ethereum Methods

In order for the PlayChip Ecosystem to meet its business objective the PlayChip must be designed to meet the following technical requirements.

• Token Requirements
  1 Transaction Timing and Scaling
  2 Transaction Options and Costs
  3 Portability
  4 Availability
  5 Security
  6 PlayChip Format
• PlayChain Blockchain Methods
  1 Random Number Provision
  2 PlayChip ID Generation
  3 PlayChain Event Logs
  4 PlayChain Integrity Check
  5 User and Game Hash Tagging

5) PlayChip Ecosystem Design

The PlayChip Ecosystem comprises elements of online gaming and blockchain technology.

• Moving PlayChips to the Ecosystem
• PlayWallet Functionality
• PlayChain Wallets and Ledgers
• PlayXchange
• PlayChain and Game Interaction
• Centralised Identity Mechanisms

6 PlayChip Future Architecture

Wherever possible, blockchain design principles are being integrated into the current backend design for future transition to a seamless blockchain enabled backend.

In order for future architecture to support blockchain technology in the backend and become an integral part of the PlayChip and game platforms, blockchain technology will need to advance in performance and scaling.
The initial approach applied to Ethereum scaling is to perform as many transactions off-chain and use the blockchain sparingly – this is why the PlayChain is designed as it is today.

The second common approach relies on a future third generation Ethereum implementation of sharding [5], where the Ethereum state machine is segmented and processed separately in parallel with other segments. This increases scalability at the cost of security and decentralisation. It is also predicted that this approach may reduce GAS as less work is required per shard.

At this early stage the solution is based on a next generation Ethereum or the ERC20 token, but could be migrated to an entirely new chain technology suitable for high volume gaming transactions. The migration would resemble the process completed by EOS and TRON [11]. This approach will allow introduction of benefits of consensus and Smart Contracts to the PlayChain, where it makes sense, and allows the PlayChip and PlayChain to remain at the forefront of the industry.

PlayChain Intro Video

Playchain Token Information :

Token	Info
Token	PLA
Platform	Ethereum
Type	ERC20
PreICO price	1 PLA = 0.01 USD
ICO Price	1 PLA = 0.01 USD
Pre-ICO Bonus	30%
ICO Bonus	10%
Tokens For Sale	3,750,000,000

Important Links :

• PlayChip Website
• PlayChip Twitter
• PlayChip Facebbok
• PlayChip GitHub
• PlayChip Reddit
• PlayChp BitcoinTalk
• PlayChip Telegram
• PlayChip Discord
• PlayChip Medium
  

Disclaimer : I am not recommending anybody to invest in any project .. Do your own reserach before investing in any project.

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@steallion