Providence represents a casino that is the first of its kind: 100% cashless and operating solely with cryptocurrencies enabled by integration of blockchain technology and digital assets. Now, you can walk into a casino with your cryptocurrency and exchange it for casino chips to play your favorite adrenaline-rush casino games.
Providence team is composed of highly skilled members in their respectful fields. The project is supported by its pioneer investors and advisors with investments, consulting and operational activities.
Providence is the first cashless physical casino and resort in the world. The proposed hotel is to have 148 bedrooms, a ground floor restaurant with waterfront terrace, a new second-floor restaurant (above the casino), a rooftop pool, and conference space, and it will be high-end 'boutique' in quality.
Providence represents a casino that is the first of its kind: 100% cashless and operating solely with cryptocurrencies enabled by integration with advanced blockchain technology. Through the blockchain, Providence will allow players to walk into our physical casino and exchange cryptocurrency for chips that will enable them to engage in all of their favorite adrenaline-inducing casino games on the premises. In essence, Providence will enable players to turn their cryptocurrencies into fun and usable assets in the physical realm, thus addressing a major issue with crypto currencies and actual consumption. To create a truly cashless enterprise, our innovative blockchain technology will be integrated into every retail outlet in the casino, including the hotel, restaurants, and luxury product stores. All revenues generated by the retail stores will be secured in fiat at rates pegged to the current currency rates.
As you already know, online cryptocurrency casinos have taken off, but there's currently almost no place you can go to physically spend your cryptocurrency on gambling. Online casinos can be fun, but nothing compares to the true casino atmosphere as you and your friends cheer each other on during your favorite action-packed casino games.
Providence Business Plan
Through Blockchain Technology and Providence Exchange integration, clients will be able to walk into our physical casino and exchange cryptocurrency for chips that will enable them to play their favorite adrenaline-inducing casino games. In essence, Providence will enable players to turn their cryptocurrencies into fun and usable assets in the physical realm, thus addressing a major issue with currently limited solutions in the real world. Blockchain technologies alleviate the resort’s Gaming and Retail sector of conversion burdens. To compound convenience, providence pegs generated revenues to current exchange rates.
Providence places emphasis on micropayments and low fees. This is why we have developed the PVE token to maximize casino efficiency while keeping an all-inclusive approach to our clientele. As a PVE token early adopter, you will receive a part of the fees usually sunk into credit card processing fees, cash handling fees, and other expenses. In the spirit of providing visitors with a truly cashless experience, the Providence blockchain application will help customers to pay using cryptocurrency for the various services offered on other premises such as hotels, luxury stores, and restaurants, further enhancing the ease with which they can spend their digital currency in the physical realm.
Once you're finished playing in our world-class casino and are looking to cash out your winnings, you will see how we can help you to avoid the volatility of cryptocurrency and even profit on it. Upon cashing out, your casino chips are converted back to PVE Tokens on Providence Exchange. This is where real benefits begin...
By using blockchain technology we lock down your winnings pegged to the current cryptocurrency exchange rates for a maximum of 72 hours. This presents an incredible opportunity for you as you will not be subject to the volatility of the market.
For example, if you cash out $1,000 worth of cryptocurrency and the value drops by 30% (or any amount) the next day, or at any time within 72 hours, you are PROTECTED. You have a full 72 hours to claim your $1,000 in fiat, no matter what happens to the cryptocurrency market during that time period.
Cashing out into Providence Exchange is a true zero-risk opportunity with serious upsides. We present our players with the opportunity to increase their winnings if their cryptocurrency increases in price during those 72 hours.
For example, if your $1,000 in cryptocurrency increases by 20%, you can elect to let the full 72-hour time limit expire to claim that extra cash. You'd now have $1,200 instead $1,000. And remember, if it goes down, you're protected. Thus, when you cash out at our casino, you keep at least your full winnings, with the opportunity to earn more if your cryptocurrency rises in value.
The Providence casino project will run under an application developed on the Ethereum blockchain. Ethereum is a smart contract-based blockchain that provides an ideal solution for the cashless casino, as transactions can be easily conducted through participants’ actions without necessitating human interaction.
Ethereum allows organisations like Providence to develop and embed applications on its main network without necessitating the need to develop a new blockchain altogether. As such, it is a much faster, more convenient, and more reliable avenue for building the platform upon which the casino will run. Moreover, with Ethereum, the security of the casino system will be assured and can be monitored easily due to the transparency and consistency afforded by cryptographic verifications.
We are in development of our proprietary exchange for the needs of casino and resort operations supported by our business model. PVE Token trading pairs will be introduced with several major cryptocurrencies in the initial launch of the platform. Likewise, the whole volatility protection mechanism will be incorporated inside the exchange and users will be able to lock down their winnings and positions as explained in the concept section.
Additionally, the exchange will be able to scale out later on as new business models and opportunities in the space will be introduced.
Read more in whitepaper
Even though our core business will be revolving around a physical casino and resort, we are not disregarding the online aspect of gaming and entertainment. We are well aware that the recent trends in the domain (and especially crypto world) are showing huge growths in the numbers of players that are stepping into entertainment venues via various online platforms and projects. This is why Providence will also have its online casino platform that will offer all our customers the ability to play their favorite games online.
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Providence brings the latest to the gaming space by extending the Blockchain with a huge array of Casino-oriented features.
We ensure fast implementation by building on existing technologies while guaranteeing oversight & security by depending on an established blockchain frameworks. By integrating Raiden technology and Lightning Network, Providence will contribute to scalability benefits for future ventures while remaining interoperable with all ERC20 compliant cryptocurrency tokens but also the major ones on the other end like Bitcoin and Litecoin for lightning deposits. Raiden technology also extends the Ethereum infrastructure so that it suits the exact needs of Casino infrastructure in terms of scalability as we onboard new ERC20 Tokens.
Such benefits include being able to make vast amounts of transfers per second and confirming transactions at lightning speeds. To top it off, Raiden technology provides the option of not disclosing transactions to the Blockchain public ledger.
Might be subject to change at this moment
A story begins
First version released
Providence Business Model
Open to all interested gamers
Open to all interested contributors
Marketing Campaigns for the upcoming 2018 season
Development of interior layouts, plans and mockups
Blueprints, Photos, Mockups, and Layouts.
Four major cryptos (BTC, LTC, ETH, PVE) deposits will be rolled out with initial set of games.
Actual construction work starts on the Providence premises.
Providence Exchange system linked to Casino and all other facilities in the Resort
The big day arrives. Exact Dates will be announced in 2018.
Implementation and Testing of Providence Reward System outlined in the whitepaper.
Online casino to be interconnected on top of Physical Casino with unique ways of new gaming.
New roadmap, plans and partnerships will be introduced.
