Recently, the ForkLog publishing house announced its readiness to hold a public lottery created on the basis of blockchain technology. The principle of the lottery is that its functioning will continue as long as there are participants. Due to the openness and transparency of the source code, it is impossible to falsify its results. The team of Firelotto creators reported that they will legalize the project in the US market. In order to do this, it is necessary to coordinate all the issues with the US Commission on Exchange Trade and Securities. As a result, the investment in the Firelotto project will be in line with the philosophy of the cryptocurrency market as well as the current legislation.
The abovementioned decision is a step towards a convergence between traditional investment and new ICO projects built on the basis of blockchain technology. At the moment, the main focus of Firelotto are games. However, in the long term, the project can be implemented in other areas. For example, the site can be used to raise funds for various projects. To do this, the lottery will not need to specify an accidental winner, but rather a specific beneficiary. And most importantly, the network will allow to bypass all the bureaucratic procedures.