Faireum - Tokenized solutions
The new kid on the block A new blockchain company named Faireum brings a new solution on the table. Its field? The online gambling industry. The mission? To protect users from incurring high extra fees with a service-based business model.
The online gaming industry has experienced exponential growth in the past couple of years. In a span of 9 years from 2009 to 2018, the industry has grown from $20.51 billion to $51.96 billion, stapling it as one of the most lucrative and rapidly-growing industries to date.
Studies show that 11% of all internet traffic is from online casino players. In the UK, the industry has increased by 300% since the new legislation in 2014. This spiked the industry’s value in the UK to 6.7 billion, and by 2024, global online gambling is expected to rise up to $94.4 billion with a compound annual rate (CAGR) of around 10.9%.
Faireum aims to revolutionize the way users experience online gambling with the innovations brought by their very own independent blockchain technology. And seeing the enormous size and overwhelming growth of the online gambling industry, as well as the common problems it faces, the said industry serves as a good ground to prove Faireum’s blockchain-as-a-service business model as the solution to this pressing problem of high extra fees.
A knight in shining armor for customers Customer loyalty and rewards are often overlooked in the existing blockchain business model. This makes users feel unincentivized and unappreciated for their loyalty towards using the technology.
Faireum sees a sustainable business model where their blockchain and its underlying technology is considered a service. Instead of incurring fee after fee for every transaction, Faireum will be using a subscription model for their services. This is their solution to maximize each player’s odds and minimize entree fees while at the same time ensuring a sustainable business for providers.
With traditional casinos, players do not receive rewards for their loyalty. In the event they lose, they don’t get any form of compensation. Because of this, a lot of online companies have lost customers.
With the adoption of Faireum, online gambling steps are offering returns to players depending on the losses they’ve incurred. Some online platforms even propose special bonuses for their players. For instance, some platforms return to its customers 10% of all money they’ve lost in a month. These returns are made possible by reduced transaction costs courtesy of blockchain technology.
Having its own token, called FAIRC, users are able to convert fiat money and other crypto, and use them for placing stakes in participating on Faireum’s official gambling platform as well as availing Faireum’s blockchain services. With this tokenization, Faireum claims that it will lessen transaction costs and eliminate delayed payouts by abolishing intermediaries in place with a completely automated and trust-free system.
https://www.faireum.io/SOURCE:
https://www.reddit.com/r/faireumofficial/comments/bln58v/faireum_tokenized_solutions/ 
