Bethereum (BETHER) ICO Review – ICO Token News
Through its unique combination of risk, excitement and potential financial gain, betting has been blessed with everlasting appeal. From the times of Roman gladiators to the rise of eSports, players have wagered on the outcome of their favourite events. The global betting and gambling market is worth a massive 3 trillion USD1 (80% of which underground). And as online and mobile channels continue to thrive, the industry is poised to grow even further.
Nevertheless, betting has always been plagued by a dark side. Regular scandals involving malicious bookmakers and fraudulent agencies have seriously undermined the industry’s reputation. When bettors lose, they lose everything. And when they win, they may not receive the promised amounts. Furthermore, exorbitant fees and unwarranted complexity discourage potential bettors from playing at all. Somewhere along the lines, betting went from being a social, engaging activity to becoming an individual, risk-ridden peril.
We will bring the fun back in betting, building an innovative, decentralised, transparent platform combining modern technology with a superior social experience. By doing so, we can reach segments with untapped market potential, such as casual bettors overwhelmed by the complexity or trust issues of conventional betting solutions.
What is Bethereum, and Why?
Broadband and mobile connectivity literally put betting in the hands of millions. But centralised, conventional betting suffers from serious structural shortcomings (see “Industry Challenges” section). The advent of Blockchain technology ushers in the opportunity to redefine the industry, delivering a solution with all the advantages of conventional betting and none of the drawbacks.
At its core, Bethereum is a social betting platform, allowing people to bet on events with other players without going through a “middle man” (e.g., a bookie or betting provider). It operates as a fully decentralised, secure solution built on Ethereum-based Smart Contracts. All bets are carried out using Bether, our purposefully designed digital token.
Bethereum is safe, transparent, provably fair, and simple to use. It’s this easy: you create a bet on one or more events, designating the minimum amount and how winnings will be split. Others join the bet (with their own event predictions). After the events end, Smart Contracts automatically calculate the winnings and award Bether tokens based on the agreed split (e.g., winner takes all).
The Bethereum Solution
In a nutshell, Bethereum addresses the most profound challenges of conventional betting by shifting power away from the betting provider and into the hands of the player community. Players create the bets, set the rules, and provide the liquidity for fulfilling payouts. The whole process is fully decentralised, transparent, and self-regulating.
Blockchain technology makes it possible to operate the network without a middleman (the main source of structural issues and vulnerabilities in conventional systems). While Smart Contracts not only ensure that betting terms are respected and immune from manipulation, but also protect player funds in an escrow account. Only when a bet ends, will such funds be released to the bet winner(s). All this, automatically and seamlessly.
The Bethereum platform is comprised of three core components:
- BetherNet Protocol
- Application Layer
- Bether token
Bether is the digital token powering nearly every aspect of the Bethereum solution. It is the betting currency behind every platform transaction, the financial reward paid to thirdparty developers for their games, and the fuel enabling key processes on the platform.
Bether is a deflationary and unmineable token with strong potential for increase in value and liquidity. The upcoming token sale is the only time when Bether tokens will be created. Furthermore, all unsold tokens allocated to the token sale will be burned.
Fully compatible with the ERC-20 standard, it is easily transferable and storable in widely used Ether wallets such as MyEtherWallet or Mist – as well as in our own Bethereum Wallet. Players will be able to obtain the token either directly via the Bethereum Wallet or on various major exchanges.
The Bether token will be used for all transactions in the betting process or to purchase upcoming optional services (e.g., AI-powered betting predictions). It enables the use of Smart Contracts, which are in turn crucial for platform security and transparency. Players can acquire the Bether token during the token sale and afterwards on various crypto exchanges or directly via the Bethereum Wallet.
Our ultimate goal is to establish the Bether token as the market standard for betting. In order to achieve this, we will pursue a number of strategic initiatives aimed at developing a broad ecosystem and drive widespread Bether adoption.
B2C social betting will always be at the core of our market presence. But we will also engage in strong B2B push, partnering with strategic industry players, white-labelling our solution, and offering our technology to conventional betting agencies and other relevant operators.
A token sale is an innovative fundraising method based on blockchain technology. Our ICO token sale and the corresponding token creation process will be covered by Bethereum Ltd., a company based in Hong Kong. For maximum transparency and participant protection, the sale will be regulated by a Smart Contract deployed on the Ethereum Blockchain. During the token sale, Bether tokens will be available in return for Ether (ETH) contributions, at a fixed conversion rate of 1 ETH = 17 500 BETHER (plus any available bonus).
To grab more information about ICO marketing strategies check the ICO marketing guide.
- Peter GalCO-FOUNDER
- Martin HermanCO-FOUNDER
- Giacomo TognoniCEO
- Dite GashiBLOCKCHAIN ARCHITECT
- Ondrej SarneckyBLOCKCHAIN DEVELOPER
- Robert HermanMARKETING DIRECTOR
- Daniel SuchanovskyDEVELOPER
- Jan SlobodnikCONTENT WRITER
- Juraj KarovicUI & UX DESIGNER
- Roy Nir LiebermanCOMMUNITY MANAGER
- Stanislav SebestBETTING & GAMING EXPERT
- Timo PalusDEVELOPER
- 1March 2017
Core team setup
- 2May 2017
Token sale preparation
- 3March-May 2018
iOS app prototype
- 4Q2 2018
Bether on exchanges
- 5Q3 2018
Oracle / API feed
- 6Q4 2018
Developer SDK start
- 7Q1 2019
Web / iOS soft launch
eSports / High Roller Club
- 8Q2 2019
Global launch: Web/iOS/Android
Local / live betting
- 9Q3 2019
Developer SDK release
Non-sport betting added
First third-party games
- 10Q4 2019
Large game portfolio
- 11H1 2020
B2B / partner growth
Bether as major standard