World first: blockchain startup Quanta acquires stake in Naija Lottery

By alonge esone

Transparency-focused blockchain solution company Quanta signed contracts today to purchase a stake in Nigeria’s International Lottery and Gaming Limited, the first time a blockchain company has acquired part of a traditional lottery service.

Headquartered in Lagos, Nigeria, International Lottery and Gaming Limited, which trades under the name Naija Lottery, has a Grade A National License from the National Lottery Regulatory Commission to offer and operate lottery games throughout Nigeria.

Quanta is the world’s fully-licensed blockchain lottery operator. The company uses its own cryptocurrency QNTU, which is traded on five crypto exchanges worldwide (Lykke, HitBTC, Bit-Z, Cryptopia and BitoPro) and allows the Quanta to ensure globally available lotteries are fairly conducted, due to the traceability of the blockchain digital ledger.

SEE ALSO: 

 

Kostas Farris, Group CTO of Quanta said today that This acquisition will usher in an era when innovation compliments tradition, injecting the power of blockchain technology into the lottery business. We are confident that we can make blockchain popular and this acquisition represents a significant base for Quanta to target other emerging markets in Africa and other Continents”.

“ILGL has provided popular and entertaining games to the Nigerian players”, said Managing Director of Naija Lottery, Charbel Saadeh. “We are very excited to collaborate with Quanta to create an even more compelling experience to optimize lottery playing for the 200-million Nigerian market."

Share

Featured Articles

Musk’s multibillion hostile Twitter takeover – the timeline

As billionaire entrepreneur Elon Musk buys Twitter for US$44bn, we draw up a timeline, from the buying of shares to the critical tweets and unsolicited bid

Sustainable moves businesses can make to win customers, IBM

With half of consumers saying environmental sustainability is more important today than a year ago, businesses should up their eco action, says IBM report

Banks and consultancies top workplaces to grow career in UK

Financial and professional services firms rank highest in LinkedIn Top 25 best workplaces list – from Barclays, Lloyds and HSBC, to PwC, Deloitte and EY

Top 10 women in technology in Europe

Leadership & Strategy

The value of ESG links sustainability to business returns

Sustainability

Top 10 European football clubs by revenue 2022 – Deloitte

Corporate Finance