Hongbo, a China-based lottery service provider, announced it has a strategic cooperation agreement with Hashi Technology, a research and development organization of Hashgard blockchain.
Hongbo and Hashi Technology will explore the use of blockchain in the lottery sector. Both parties will study the implementation of a lottery system and electronic billing system based on blockchain technology by using a distributed ledger, distributed storage, random numbers on the chain, automated smart contracts, immutable information disclosure, and other technical features.
The two sides believe that a blockchain-based lottery system will realize openness and guarantee the fairness and transparency of lottery services to move the industry forward. The electronic bill system based on blockchain technology will realize new business upgrades in terms of convenient bill data recording, reform of communication and storage management methods, reduction of credit costs, and improvement of data transaction efficiency.
Hashi Technology is a company specializing in blockchain technology. It has successfully developed several products such as the Hashgard SIF test network, Hashgard VM, Ethereum smart contract graphical deployment system, smart contract-based equity incentive certification system, and more.