Revenue Streams will be here Soon! DApps: The eXeBlock Way
Led by founder Jonathan Baha’i, a man internationally recognized as a successful blockchain pioneer, the team of seasoned blockchain and business vets at eXeBlock are first-movers in the space, developing what are dubbed “DApps,” a word short for “decentralized applications” built on blockchain technology.
As a visionary, Baha’i has been way ahead of the curve, founding Peerplays in 2016, which is the world’s first eSports tournament and wagering platform built exclusively on blockchain. The global system overcomes shortcomings of all legacy eSports and gambling technology, increasing speeds and flexibility with greater security than ever before. Moreover, there is no “house” to compete with; every player in the network is playing directly against another user somewhere else in the world.
To think of Peerplays for only gaming use is an understatement. The platform has been designed to share revenues generated from all activities carried out with the Peerplays blockchain network. This is particularly important for eXeBlock, as the company recently received 940,000 Peerplays tokens (PPY) as part of a development agreement with the Peerplays Blockchain Standards Association. As part of the agreement eXeBlock will develop four DApps on the Peerplays blockchain, collecting a transaction fee on a per use basis.
DApps are the part of the next generation of technology backstopped by the power of blockchain. Because of blockchain, each DApp operates under open-source license, paving the way for DApps to be open for innovation without restrictions of copyright or patent. The decentralized approach ensures that the end user/customer constantly provides feedback and contributes to on-going DApp development and improvements, a streamlined model compared to today’s feedback methods.
At the same time, eXeBlock can still capitalize from DApps and keep them continuously upgraded with nominal expense to the company. The key is in adoption, as the more people that use DApps, the more recurring revenue eXeBlock generates. In addition to its “per use” revenue stream, the company also intends to launch white label DApps for use by organizations and corporations.
50/50 Labs and Freedom Ledger
eXeBlock has several DApps in its pipeline and has first focused its resources – including part of the $6.2 million raised via non-brokered private placement in Q4 2017 – to build-out DApps called 50/50 Labs and Freedom Ledger.
50/50 Labs is pointed towards organizations and corporations as a white label solution for 50/50 draws, including the 1.8 million non-profits and charities located in Canada, the United States and United Kingdom alone, not to mention community leagues, professional sports and other associations the utilize 50/50 drawings. Able to service many clients at once, users simply plug their database and lottery details in the 50/50 Labs DApp, which facilitates efficient, low-cost, multi-jurisdiction fundraising.
The initial build-out of the DApp is complete and the 50/50 Labs DApp is now active on TestNet where it is accumulating user feedback for optimization, with the full launch expected in the coming weeks. Once the test phase is completed, the code will be released publicly on the Peerplays blockchain network, with a marketing push directed at charities planned to coincide with the launch.
Ultimately, this will signify eXeBlock’s entry into the revenue-generating stage of its business. Organizations will be able to create 50/50 Labs draws free of charge, but with each ticket sold a portion of the transaction value will go back to the Peerplays network and in turn, back to holders of Peerplays tokens. As a holder of 940,000 PPY tokens, usage of the 50/50 Labs DApp has considerable implications in branding and building value for eXeBlock.
Freedom Ledger, branded as “digital currency trading reinvented,” is consumer facing for individuals without cryptocurrency accounts. The blockchain-based DApp is designed to enable consumers with a traditional currency account to utilize various DApps and will be marketed to DApp developers worldwide. What’s important to recognize is that Freedom Ledger (an appropriate name when considering what it really does) is not a cryptocurrency custodian, but rather the vehicle to automatically swap from one blockchain to another while keeping all blockchain tokens and cryptocurrencies secure.