Topic: [ANN] Providence (PVE) 100% Cashless & Physical Crypto Casino & Resort - page 31. (Read 13576 times)

Thanks! Hope to see you around!

Physical casino integrating cryptocurrency as a mode of payment will go a long way to bring in new investors into the crypto community. Good luck devs. It's a good move.

Hi cryptomaniac

Based on our roadmap, the whole reward distribution system is intened to be implemented in Q3/Q4 of 2018, so after the "season" and when all the core business process are running smoothly. But this is for the whole physical part. With that in mind, we will have the ONLINE casino running already in Q4 2017 and we will have the first jackpot in Q1 2018 although the whole physical integration will be added later and in that way more volumes/profits for redistribution!

I like this project because it's not all about virtual things. I guess it could be an amazing feeling to enter the resort knowing you hold some tokens. When should the first jackpot start? Will it be held in the first year of operation (casino & resort) or the year after?

Hi all,

We have updated the Whitepaper to version 1.1. Also, if you are interested all versions will be stacked on the server so you can always check diffs if necessary.


All the major changes are regarding to the 1.1 Version of whitepaper are related with the Section: Token Holder Rewards and Benefits

All our tokens are spendable and are pegged to a nominal value of Ether (1 ETH = 600 PVE) at the time of Token Sale. Contributors are incentivised to utilise PVE’s in our casino or other offerings through our venture. Providence Tokens are primarily consumption oriented, however, if you decide to hold PVE tokens, you can still benefit from our reward system. The incentives and rewards are as following:

1.   Smaller transaction and Credit Card fees allow us to save a percentage of money spent on credit card transactions and redirect this value back to our consumers when they buy in casino chips with providence tokens. You will be getting an 1.5% extra chips on every buy-in you do on the casino premises.

2.   Every Quarter Year, Providence Crypto Casino & Resort will allocate 20% of profits in PVE Tokens into a Jackpot system that will be implemented on the Online Casino and will be provably fair. Each Providence Token holder will get a jackpot ticket for every 20 PVE tokens held with a combination of numbers to enter the reward pool. The jackpot will run on a pay-out structure that will be based on a group share system and the exact pay-out models will be introduced once the reward system is implemented.

3.   Each Providence Token holder will be entitled to a reward in PVE tokens which is composed of 1.0% Providence’s total quarterly volumes in the whole network where PVE is used as a payment system and this includes Physical Casino, Hotel and other Retail Outlets that join our venture.
a.   The system will be implemented via a smart contract which will be doing redistribution of rewards based on quarterly volumes.
Example.
If Providence’s quarterly volumes amount to 10,000,000 PVE Tokens, then 1% of this amount (100,000 PVEs) will be taken and sent to the smart contract. After that, the smart contract will redistribute those PVE tokens back to token holders in proportion to the share each specific token holder has in the pool of 100,000,000 Tokens distributed on the market. If you have 10,000 PVEs or 0,01% share in the market, you will be receiving 10 PVE tokens.
b.   By nature of token holders, it is in their interest that these services get as much volume as possible. Furthermore, as this will be a physical casino and resort for holidays and entertainment we rely on social influence of those same shareholders to drive more potential guest and customers to our entertainment complex thus increasing demand and consequently volumes.

(4.)   Token sole appreciation in value through exchange ecosystem. Because this token has several directions of utilisation (consumption, holding, trading), we are expecting a steady growth in value as we expand our business offers, services and introduce new and innovative ways of utilisation in our venture.

Hey Harki,

no problem. That's why we are here. In relation to your question and a few we already had before. We are aiming for the big push on the Main Token Sale. Before that, all possible information will be disclosed and then you will act upon your own instinct and facts presented. Regarding the success of a project. I believe no one can say anything with certainty and claim something will be successful. However, you can use information with research and come to a good probability for seeing a successful project.

All I can say and vouch is that that the Team in Providence is top-notch. If you take a look on our proven track record of business history, networks and data stated here, you can see that this is a project with a mission to connect the physical and digital world of gaming, leisure, and entertainment. Casinos, games of luck, holiday resorts is an industry being disrupted. Online casinos are leading the charge here. Gambling industry and casinos are after all one of the major drivers of the “consumption” in crypto-economy at this point.

By connecting this two realms we are creating much more possibilities for ordinary crypto users to leverage. Especially gamers and travelers who by default have difficulties with exchange rates, different currencies and so forth.

We are confident that we are presenting some specific USPs that position us in this market and this is what we will push and scale onward!

Thanks for the promt answers. Have one more though and in relations to the fundings you said and that you will push the project to completion. It might be bit dum question and there is always a dose of risk but but how can I be "enough" sure this project will be launched and successful?

Hi Dishku!

Thanks for pointing out that cool feature. Exactly, we want to bridge these worlds and we have several concepts in development around that. To highlight this point, I will take this section from the Whitepaper for maybe some of the readers here that still haven't checked the whitepaper itself.

We will also launch our own online casino platform that will offer all our customers the ability to play their favourite games online. On that note, one major milestone that awaits Providence after the roll-out of the casino and hotel is a unique approach to games that will surely differentiate us from other online casinos on the market. We will be introducing a set of custom games that will be tied to the actual physical location and venue of the physical casino. A first concept of the game that is in research & development will be simple “binary betting” on actual player performance in the physical casino. Imagine that, at any moment in time you will be able to see players that are participating in the live games and bet on certain people with certain outcomes. You are not participating in the game itself but betting on your favourite “hot-streaker” and high rollers.

Example 1.
A person enters a table or a game with a certain amount of chips. You can place a binary bet if this person will win or lose in the next round or dealing of that particular game.
Several other concepts that are still in idea & feasibility stage include staking the house edge and increasing the odds for your gamers or margin betting (borrowing your bankroll to players) to increase winnings for both players. In addition, we will also engage our community and token holders to submit proposals and ideas how we can expand our gaming palette and offering. All implementations and milestones will be outlined in the roadmap section and further technical details in the technical approach section.

I like this idea to have physical casino for cryptocurrencies this will be helpful to get attention from so many people who are not aware of this. This is really interesting point how you will connect this casino to the blockchain and how people will be able to place bets.

Hi mrcauthon

Thanks for the reply. Indeed, this information is something that you would expect to read in a project like this. And you will! But at the moment the core team and management decision is not to disclose the location of the physical premises. This is because we have several deals and due diligences running in the background, but also it is important for us to prepare a big announcement with much more details (location, licenses, and leases) leading up to the MAIN TOKEN SALE.

Take note that it states clearly on our white paper and also our website that we are very transparent with the fact that
1) Certain milestones in the roadmap will be completed even before the main token sale.
2) All documents plans, license, location tenancy will be published on our Website BEFORE the main token sale even starts.

So you can be assured that this is as transparent and legitimate project as it can get (unlike some other token sales and projects where only an idea is mentioned, and no viable product is shown months down the roadmap and after the main token sale.)

We by no means stress you or anyone else to participate in the PRE-SALE if you are not confident in the project. You are more than welcome to participate in the main token sale instead once you are satisfied with the full disclosure

I'm guessing you mean the first. It feels silly stating the obvious but the physical proximity to your customer matters and I didn't see it mentioned anywhere WHERE THIS PHYSICAL CASINO WILL BE LOCATED. If I launch an offline casino ico money grab I'll make sure location is the first thing I mention.

Thank you for the kind words! Hope to see you in Providence Crypto Casino & Resort, drinking margaritas!

Hey Zontop,

Yes, that is right. We don't have the softcaps because we will push this project to the end even if we don't reach the hard cap goals. However the whole Token Sale and the funding will speed up the process and of course, help us in positioning on the crypto market and attracting first customers/players/guests which we expect to be token sale participants. We have a very interesting concept of rewards and incetives for token holders. Furthermore, as this will be a physical casino and resort for holidays and entertainment we rely on the social influence of those same token holders to drive more potential guests and customers to our entertainment complex thus increasing demand and consequently volumes. Even if they aren't into crypto, we will have an exchange to "onboard" them.

We also have other means of funding (which are already being used) but the project will be developed no matter of outcome of token sale. If you also check the composition of our team you will see that we have a lot of experience in project funding, and Vlora Asset Management group is also on board which has already reserved a 15% of tokens in our OTC deal. We will have PR's soon so updates on that front are also coming along!

Nevertheless, the token sale is very important for us in boosting the whole speed of the project, brand positioning and crypto liquidity that we need for operations on this scale.

They have all the reasons to achieve maximum possible amount of money. I also was attracted even by title of the thread and after reading the idea I found it much more interesting. One week to presale is sufficient to let the people know about the project.

crypto casino & resort, I think this project will attract a lot of investor interest, good luck dev, hopefully your project succeed 

A physical casino with cryptocurrencies only payment method is interesting concept. You mentioned only hardcap for rounds without anywhere talking about sofat cap. This is to assume that you don't have any minimum amount to raise in order to carry out development, am I right ?

Hey KRT96

yes, that is correct!

Essentially, here is a scenario:

You have some form of cryptocurrency (BTC, ETH) and you come to the Providence Exchange (our own proprietary exchange) either online from your home or when you are on the spot (you will also connect online because you will need to create an account up there which will have a wallet).

You can then exchange your BTC/ETH for PVE tokens and essentially use the tokens in the whole Providence Complex. Let's say you arrived at Providence, checked in and want to go into the casino. You will then have an option inside the exchange to BUY-IN chips. Real physical casino chips in USD counter value. You get 1,5% more chips then you bought (our incentive mechanism). Then you choose the desired table, let's say POKER TABLE and a sit in at the table and the croupier will just grant you the chips an and you are able to play along as much as you are feeling lucky (or skillful)

Then, the process goes in reverse. You cash out the chips and they automatically come back into your Exchange wallet . You can then get back to BTC or stay in PVE, go to a restaurant and pay yourself some good caviar and champagne with the winnings in PVE chips

So as I assume people who come to your casino can pay with your token via blockchain transaction?

I'm glad we still have your interest! Regarding your second question:

The token is crafted and envisioned to be used in our physical cashless casino but the limitation does not stop there. This token can also be used in the whole complex of hotel and restaurant that we operate and also later on throughout our venture or partner network which will have PVE as a means of payment inside. This will always be closely related to our core business and this is gaming and hospitality/tourism.

Oh, I skipped a bit the part of "physical". With that in mind, I have read through with a bit more focus and it sounds quite interesting. If I for example buy PVE Tokens, so where can I use it specifically?