What is Peerplays?
Peerplays is an online gaming and wagering platform that uses open-source blockchain technology to prove fair fair play at casino card game. The company could potentially provide a solution to the widespread issue of fraud in the gambling industry, where an estimated $100 million a year is lost by players to cheaters.
Fabian Schuh, advisor and developer at Peerplays, says:
“Being part of a decentralized autonomous organization is never easy, it takes patience and commitment to the process of building a better world. Peerplays is building upon everything we have learned over the past 3 years, and we are excited to offer Ethereum DAO holders the opportunity to be a part of this project.”
The startup refers to itself as a DAC, a decentralized autonomous co-op, as in addition to the system of stakeholder voting that drives the DAO, Peerplays also distributes a percentage of its fees to members through an automatic profit-sharing payout programme.
Proposal with “many shared interests”
As with the majority of future DAO proposals, Peerplays is innovative and offers a blockchain solution to a mainstream problem. The blockchain solutions consultant advising Peerplays, BunkerChain Labs, published the company’s proposal on their website, offering 5% of the total Peerplays stake to the DAO in exchange for funding.
Jonathan Baha’i, president of BunkerChain Labs, says of the DAO proposal:
“Peerplays is a cousin to the DAO, and has many shared interests. And since the DAO is built on Ethereum, and Peerplays will support Ethereum as a wagering instrument, it made a lot of sense for us to offer The DAO a stake in Peerplays.”