How to make an evening lottery
What if you could spend the whole of the day playing a lottery game?
That’s exactly what a team of researchers in India have just achieved, using blockchain technology to run the lottery for the first time ever.
In a paper published in the journal CryptoSciences, the team from India’s Technion-Israel Institute of Technology and the University of Michigan, in collaboration with researchers from the US, Germany and Japan, created a lottery system that will operate from September 24 to December 11.
The lottery, called the Arpahadi lottery, is one of the world’s most successful forms of gambling, with millions of people participating in the games annually.
However, the government of India has struggled to get the machines running and is currently unable to afford to buy enough tickets.
“The Arpachadi lottery is a one-of-a-kind event that offers the opportunity to experience the world of a lottery with no tickets required,” the team said in a statement.
“This means that the participants of this lottery will not have to travel to a distant country to access the lottery ticket machines.”
The team behind the ArPachadi project has created a new system that uses blockchain technology.
Instead of buying tickets on the black market, participants in the lottery will use a blockchain to transfer ownership of their own digital coins onto a digital wallet.
The coins are then exchanged for a cash prize, with a minimum of one million rupees ($1,000) being awarded to each participant, as opposed to the usual 500,000 rupees.
The lottery will also reward participants who buy more tickets, with additional prizes for those who do not buy enough.
The team hopes to use this blockchain-based lottery system to help reduce the cost of buying lottery tickets, as well as provide an incentive to buy tickets.
For example, the lottery is not a simple, single-use, one-time-use ticket, which means the participants have to pay extra to receive the ticket when they use it, the researchers said.
“It is also important to note that this system will enable the use of the Arachadi ticket for future lottery promotions, and provide the users with an incentive for the purchase of tickets in the future,” the researchers wrote.
“The scheme can also be used for the creation of new digital tokens in a decentralized fashion, to reward participants with digital currency tokens for their participation in the scheme.”
In addition to a cryptocurrency token, the ArpaHadi team is also planning to launch a blockchain-powered lottery for Indian students, who would then be able to redeem their tokens for real money.
This is a big step forward for India’s digital economy, and the Arpanadai lottery is just the beginning of a wider push for digital inclusion.
The country is also looking to create a similar system for its children, with the Indian government set to launch its Digital India 2020 strategy, in November.