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71. Unikoin Gold (Published: 07th Nov, 2017)
Unikoin is an online E-sport betting platform initiated in 2014, Seattle. It has not yet received the license to operate real money betting. Users can use a virtual (not on blockchain) game point called Unikoin to bet. The real-live value of these Unikoins is that it can be used to exchange for tickets to jackpots where gaming skins or gaming equipment are rewarded. In short, Unikoin cannot leave the gaming system and trade with actual cash.

According to their whitepaper ‘The proposed ERC20 token, UnikoinGold, will give alternative methods of possibly
turning over their winnings on the Unikoin platform.’ This shows that they want their betting units to have more connections to real live value by enabling trading between ether or even other cryptocurrencies. From their whitepaper, UnikoinGold is basically a premium version of their Unikoin that is easier to transfer and exchange for real value because UnikoinGold is an ERC20 token.

Making an exchange tradable betting unit does not sound very interesting to us as

  1. E-sports betting with real money is clearly available these days for countries that allows online gambling
  2. The business has a high regulatory risk to operate in countries where online gambling is illegal.

What is more interesting is that they mentioned that in the future they will enable peer-to-peer betting system by the method of using smart contract. However, no detail of their smart contract’s result verification mechanism has been released yet and no clue of it can be found in their github repository neither.

Another point to mention is that only 20% of the UnikoinGold created will be distributed in ICO and 80% will be reserved by the team for some other use. Gambling is one of the fields that is most likely to be disturbed by blockchain technology. However, no matter it is sports betting or E-sports betting, the result verification is very difficult to be decentralized. If this problem cannot be properly solved, we tend to believe that the application of blockchain here is a not a worthwhile.

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