Lucky Draw - Starting an Online Business Using Blockchain Technology

• Main Authors: Paskal Bogdanov Semerdzhiev, 潘司
• Other Authors: Yih Jeng
• Format: Others
• Language: en_US
• Published: 2018
• Online Access: http://ndltd.ncl.edu.tw/handle/v2efez

碩士 === 國立中山大學 === 管理學院國際經營管理碩士學程 === 106 === Blockchain is a buzzword that is gaining popularity, and companies try to include it in their new products, but it can’t be applied to solve every problem better than already es-tablished technologies. In this business plan I propose starting a venture which utilizes blockchain technology for its strengths – transparency, trustlessness, and immutability. The venture will deliver online gambling and betting products, which will utilize block-chain technology to reduce risks for customers and allow near instant deposits and pay-outs. Smart contracts will be utilized which will handle all of the value in a decentralized manner. It is shown that using novel technology allows for reduction of costs, and opens up potentially lucrative opportunities for remote gambling, and online sports betting. Furthermore, utilizing the transparency of the blockchain, the venture will commit to give back to society, and much of the financial activity of the venture will be publicly auditable on the blockchain. The blockchain by itself is not very useful to ordinary peo-ple, so in order to build a good user interfaces and user experiences, contemporary web technologies can be used. The business plan starts with the rationale and motivation behind the idea. The oppor-tunity and the business model are then described. Various legal and licensing concerns are also addressed. Subsequently, external market analysis is done by looking at Porter’s five forces, SWOT, and market trends. Given all the internal and external analysis, the business strategy is described. Lastly, cost and revenue estimates are presented. Startup and secondary financing options are discussed.