According to De Club’s plan, a Malta-based company called Wide Rich Global Company Limited will issue 20 billion ‘DEC’ tokens, which will fund the acquisition of De Club, which then will “acquire a Macau junket promoter license and several land-based casinos,” not limited to those in Macau. 35.5% of the funds raised will be for such casino acquisitions and licensing.
The company explained that DEC will be a cash-backed token and be convertible to various fiat currencies. “DEC and its associated stablecoins will fuel the first ever online casino that has seamless integration to land-based casinos. The prototype of tokenized online casino is expected to roll out in early 2019,” the whitepaper read. The pre-sale for the tokens begins November 15.
The DEC App is planned to allow for token holders to host their own games online. “We will design a dedicated mechanism so that DEC holders can crowdfund through smart contracts and earn money from these regulated and licensed table games as hosts,” the whitepaper read.
Before end-2020, De Club hopes to acquire an offshore bank “so that we can have an even more streamlined fiat currencies payment network within the DEC ecosystem.”
Source: GMB / Calvin Ayre
