The World's First Deal to Reform Traditional Lottery
DOUGLAS, Isle of Man, Dec. 13, 2018 /PRNewswire/ -- Quanta, has signed contracts to acquire a stake in International Lottery and Gaming Limited (ILGL), and concluded the world's first deal to see a blockchain company acquire a traditional lottery company.
"This acquisition will usher in an era when innovation compliments tradition, injecting the power of blockchain technology into the lottery business. We are confident that we can make blockchain popular and this acquisition represents a significant base for Quanta to target other emerging markets in Africa and other Continents," said Kostas Farris, Group CTO of Quanta.
Commenting on behalf of ILGL, Charbel Saadeh, Managing Director of Naija Lottery said, "ILGL has provided popular and entertaining games to the Nigerian players; we are very excited to collaborate with Quanta to create an even more compelling experience to optimize lottery playing for the 200-million Nigerian market."
The Nigeria lottery industry is a major source of wealth distribution in the country, while the role of cryptocurrencies continues to garner national-level attention.
Quanta PLC is an innovative blockchain-oriented company, that utilizes smart contracts in order to ensure fully automated and transparent blockchain-powered solutions.
Quanta PLC owns Quanta Technology Limited, the operator of the world's first licensed, blockchain-based gaming company on the Ethereum platform. Its products, including gaming platform, random number generator, token-centric payment gateway and game wallet are blockchain powered and certified to ensure utmost trust and transparency in the gaming industry. The company employs Smart Contracts to offer full automation and integrity to lotteries.
With the support of QNTU, the utility token, Quantaleverages services to strengthen the customers engagement. QNTU is currently trading on five renowned cryptocurrency exchanges such as Lykke, HitBTC, Bit-Z, Cryptopia and BitoPro.
International Lottery and Gaming Limited (ILGL) is a privately-owned company established in Nigeria, which has been granted a Grade A National License from the National Lottery Regulatory Commission to offer lottery games throughout the country under the trade-name NaijaLottery™ .