How is a Blockchain Lottery different?

Amjad Pirotti, my lottocoin.com

What if we could take the power of blockchain and use that to make lotteries joyful again. Consider the community lottery held in your local club or town — it’s a means of raising money for a local or shared endeavour — the price is not high and the winnings are very transparent. Of course, the payout tends to be small — a combination of low volume and the desire to fundraise over actually winning vast sums. But what if that model could be twinned with national or hyper-national concepts? What if we could make the lottery fair and still pay out large sums. What if no one owned the lottery and everyone involved stood to gain so that the fundraising and profits were pooled back to the participants. And the participants were the true target recipients of the prize?

That’s a lot of questions but one project that seeks to answer them is MYLottocoin.com; a crypto lottery that is conventionally ruled, anonymously played and autonomously operated.

Its founder Amjad joins me for a conversation on how this works. It is, he says, a permissionless, DeFi powered lottery with decentralised features.

“We have created an inclusive model by incorporating the role of classic games.”

MyLottocoin is live, it went live in November 2020, a full month ahead of…