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Blockchain Can Make Government ‘Incapable of Being Bribed’

Blockchain can make government ‘incapable of being bribed’

Blockchain Can Make Government ‘Incapable of Being Bribed’

Blockchain can make government ‘incapable of being bribed’

The founder and CEO of retail giant Overstock.com Patrick Byrne says that blockchain can make government “superefficient and incapable of being bribed,” in an interview with MarketWatch published on Feb. 12.

Byrne reportedly said that government services have reached a turning point for a fundamental change of their structure, and blockchain technology, in his opinion, will be the optimal solution.

Byrne proposed “building government-as-a-service, a set of applications and companies that, between them, can bring blockchain to different services that governments provide,” which will eventually “make government superefficient, inexpensive and incapable of being bribed.” He stated:

“We could step into Venezuela with six laptops and create not only a functioning society but arguably one with the most advanced government systems in the world. We could bring them a central bank on the laptop. Everyone in Venezuela downloads a free app, and suddenly you have the most advanced monetary system on the planet.”

Byrne reportedly revealed that he expects to conclude a contract with more than one sovereign nation in the near future to start radically overhauling their government services.

In January, Overstock.com announced it will pay part of its business taxes in the state of Ohio using Bitcoin (BTC) via the recently launched cryptocurrency taxpayer platform, OhioCrypto.com. Byrne said then that government adoption of cryptocurrencies and other emerging technologies, accompanied by friendly legislation, is “the best way to ensure the U.S. does not lose our place at the forefront of the ever-advancing global economy.”

Recently, Venezuela’s new crypto bill, which establishes а legal framework for the industry, officially came into force. The legislation also introduced the concept of a sovereign crypto asset — any currency issued in Venezuela and authorized by the government — and established obligatory licenses for mining entities and crypto exchanges, and introduces fines for unlicensed activities.

In December, Harvard University Professor of Economics and Public Policy Kenneth Rogoff said that governments worldwide may in due time “regulate and appropriate” the innovations of new asset classes like cryptocurrencies, as coorinatinated global regulation would eventually seek to “stamp out privately constructed systems:”

“The right way to think about cryptocurrency coins is as lottery tickets that pay off in a dystopian future where they are used in rogue and failed states, or perhaps in countries where citizens have already lost all semblance of privacy. It is no coincidence that dysfunctional Venezuela is the first issuer of a state-backed cryptocurrency (the “petro”).”

Published at Wed, 13 Feb 2019 00:14:42 +0000

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Nitrogen Sports Adds New Baccarat Game to its Bitcoin Casino Platform

One of the popular bitcoin casino platforms, Nitrogen Sports has recently announced the addition of a new game – Baccarat. The popular game is now available alongside some of the most-played games on the platform like Dice, 1-deck Blackjack, 2-deck Blackjack and 8-deck Blackjack.


The Baccarat game offered on Nitrogen Sports is definitely different from other versions available online. It provides unprecedented flexibility to the players where they can choose between single and multiplayer game versions. The game comes with a fully integrated chat feature and offers a range of avatars for players to pick from along with a history of played hands.

Like any other game on Nitrogen Sports, Baccarat is provably fair.  The platform uses Mersenne Twister random number generator (RNG) algorithm to ensure that the odds are totally even in all their games. Players on the platform can readily verify the validity of a hand by using randomly generated hashes that are controlled only by them. The generated client seed hash can be checked on any third-party verifier site for any of the Nitrogen’s Baccarat hands.

nitrogen-sports-logo

In its press release announcing the launch of Baccarat, the platform also provides the game rules and instructions. According to the release, Nitrogen’s Baccarat is a card comparing game to be played between two hands – one, the “player” and the other, “banker”. Each Baccarat round has three possible outcomes:

  1. Player hand
  2. Banker hand
  3. Tie between hands

Baccarat cards have different point values, the cards numbered 2 to 9 are worth their face value (in points), 10s, Ks, Qs, and Js carry no points. Aces (A) carries one point and Jokers are not used. The pointing system for hands in Baccarat game considers only the rightmost digit of the sum of constituent cards.

For example: If a hand consists of cards 2 and 3, the total points for that hand is 5 (2+3). But in a scenario where the hand consists of cards 6 and 7, then its only worth 3 (as 3 is the rightmost digit in the combined points total; 13).

As per the rules of the game, the highest possible hand value in Baccarat is 9.

There are numerous versions of Baccarat played in almost every real-life casino around the world but unlike them, playing Baccarat on Nitrogen Sports is much easier and faster. The use of bitcoin offers players more flexibility in the game due to the ease at which players can buy and transfer the cryptocurrency. Users can simply create a wallet address through numerous methods and start playing.

Players on Nitrogen casino platform are free to deposit and withdraw the cryptocurrency balance as fast as the bitcoin network would allow them to do. But in the case of conventional fiat based online casinos, the same might take days at times.

All these factors make playing Baccarat on Nitrogen Sports a much better experience than any other alternative. Those interested in playing the game can do so here.


Images courtesy of Nitrogen Sports, AdobeStock

The post Nitrogen Sports Adds New Baccarat Game to its Bitcoin Casino Platform appeared first on Bitcoinist.com.

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