Topic: OKDice Hosts Bitcoin Crowdfunding Campaign by Using HaoBTC’s Enterprise Vault (Read 627 times)

Oh I see. I work for HaoBTC and quite new to this forum. One of our businesses is providing m-of-n multisig wallet to enterprise users and OKDice is one of our customers - so the crowdfunding project is not our project per se and we don't care how much or little fund they will eventually raise, all we care is that they use our wallet. I agree this section might not be the best place to publish this post, but in my defense, we are loosely related to mining because HaoBTC operates a few mining operations and in total, we own about 9P hashrate - see my previous posts. Let me clarify our intent by posting this article - we hope more people are aware of our wallet service and that's all.

Interesting that you ask...
Crowdfunding...   You ask the Crowd to fund your project: ie you ask for money...

anyhow, that part of the forum is about mining and altcoin...

Interesting. Where did you get the impression that I was asking for money?

... someone who posts in random section of the forum to ask for money ?  well actually it is pretty common  

One of the things we don’t often encounter in the world of Bitcoin and digital currency is the chance to crowdfund a brand new gambling platform. As you may have noticed in the past, Bitcoin and gambling seem to go hand in hand these days, and there is a huge market to conquer. OKDice is looking to become a major player in the Bitcoin gambling space, and they need funding in order to do so.

Rather than looking for one or more investors for funding, OKDice is trying their hand at a crowdfunding campaign. And that crowdfunding campaign is hosted by the OKDice website itself, with over 369 BTC being raised to date. As you would come to expect from any crowdfunding campaign, becoming a backer will entitle you to a reward.

In the case of OKDice’s crowdfunding campaign, anyone backing the project will automatically become a dividend-earning shareholder. That being said, the details regarding the crowdfunding campaign are a bit vague, as there is only a deposit address. Make sure to do your own research if you decide to invest money in this company.

 
HaoBTC’s Enterprise Vault

 

At the start of April, HaoBTC launched a new security feature in terms of Bitcoin wallet technology. Enterprise Vault is an “m-of-n multi-signature wallet”, ensuring that no single party can be in control of the funds raised during the crowdfunding campaign. And with over 360 Bitcoin raised so far, extra wallet security is more than welcome.

An OKDice spokersperson told BTC.com:

    “By using the HaoBTC Vault,permissions from multiple individuals each controlling one co-signing key will be required. Furthermore, I strongly believe that HaoBTC’s Enterprise Vault will be invaluable in regards to greatly enhanced security and increased users’ confidence in the OKDice website.”

What makes ‘m-of-n multi-signature’ wallet technology so interesting is the fact that multiple users are required to give permission through their co-signing key. Failure to do so will ensure that any funds stored in the Bitcoin wallet will remain un-spendable. This new implementation of multi-signature Bitcoin wallet security is a great tool to reassure customers their funds are completely safe.

When talking about the benefits of m-of-n multi-signature technology, HaoBTC CEO Wu Gang said:

    “There are many benefits, and one of the biggest is letting users have up to 10 co-signers for a single wallet address. It effectively mitigates counterparty risk. Our aim is to make Enterprise Vault an industry standard. As awareness grows, companies will see how beneficial it is.”

Other Services To Implement Enterprise Vault Security?

HaoBTC SmallCrowdfunding with Bitcoin is a great way for a company to not just raise the necessary funds, but also gauge whether or not there is a legitimate interest in their service. However, there has always been one major problem up until now: every Bitcoin address only required one key to spend the funds. Not the most secure solution, as you can undoubtedly imagine.

As a result of that lackluster wallet security of the past, several fundraising efforts have gone awry, both in China and the rest of the world. The most notorious example of such malpractice is ASICMiner, a mining hardware manufacturer. Investors were left in the cold once the company’s CEO decided to take all the funds with him and never be heard from again.

By developing a new layer of Bitcoin Wallet security, HaoBTC wants to show the world that China-based digital currency companies can be secure. Furthermore, the long-term goal is to restore trust among investors, regardless of where they live.