BUSINESS

The International eBoost Society Create The First Virtual Currency Designed For Use in eSports Wagering

TAGs: eBoost Society, eBoost Token, eSports, Lee Davy

The International eBoost Society has created the world’s first virtual currency specifically designed for wagering on eSports matches, and immediately opens up a crowdfunding program with 100 million tokens up for sale.

I fear change, do you?

And yet I know, deep in the back of my mind somewhere, that I need to embrace it if I am going to simplify my journey through life.

The International eBoost Society Create The First Virtual Currency Designed For Use in eSports WageringCharles Darwin learned throughout his intrepid voyages on The Beagle that life evolved through a process called Natural Selection if you don’t adapt to the changing environment, you will eventually fade away to be replaced by those that can change.

The financial system works the same way. In ancient Mesopotamia, the state controlled the value of wealth by keeping stores of silver that underpinned the state’s monetary system. But the people of the state never spent any silver; they never touched it. Instead, they used barley as a physical currency.

Your financial genes wouldn’t spread if you tried buying a Macbook in an Apple store in London using barley.

Notes and coins are starting to feel like barley. I don’t understand how cryptocurrency works. Blockchain equals blocked brain. But I do know it’s the future, and if I don’t ebb and flow with it, then I will fade away.

The eBoost Token

The International eBoost Society is adapting. They recently announced what they are describing as the first cryptocurrency dedicated to eSports wagering. In the future, instead of using sterling, dollars, or barley to compete in player versus player eSports wagers you will be able to use the eBoost Token.

It’s a perfect match.

Cryptocurrency and eSports will ensure the spread of the right kind of financial genes. Almost all gamers will have some experience dealing with virtual currency. There will be less fear of change. It is the ideal economy.

Marshall Long, Nicholas Thomas and Lionel Iruke are responsible for the creation of the eBoost Token. Jim Blasko is leading the development team.

Unlike its famous forefather Bitcoin the eBoost Token will be non-mineable, and will instead operate on the ‘proof-of-work consensus algorithm’ (I feel those change muscles stiffening, suddenly). BitAngels founder Michael Terpin believes in the project and has become an investor and advisor.

Crowdfunding on Bittrex

There is a supply cap of 100 million eBoost Tokens, 20 million of which have been offered up at a crowdsale hosted on the digital currency exchange Bittrex. The sale began on Sep 15 and will last for 42 days at which point the unsold coins will be destroyed with a virtual hammer.

The team believe in a future without the aggravating financial border controls that prevent smooth flow of funds between payment processors, wagering/gaming platforms, and the people. They also believe wholeheartedly in the growth and ascendancy of the eSports market.

How Does it Work?

To begin, you need to find a platform that will accept the new currency. Presently, that will be Mockit; an eSports platform that pulls in a huge audience through their partnership with Twitch.

Then you find someone who is up for a fight, wager your eBoost Tokens, beat the crap out of them, take their virtual coins, and then head to Bittrex to exchange your eBoost Tokens for a currency of your liking.

Easy-peasy-Japaneasy?

No, it’s not, but then again, when was change ever easy?

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