It’s not uncommon for companies to spread out into other that don’t necessarily fit their primary business model—just look at Amazon. However, as the late Steve Jobs said, “Innovation distinguishes between a leader and a follower.” Perhaps this is why the Philippines-based Leisure and Resorts World (LWRC) has decided to get into cryptocurrency and the blockchain.
Through its LR Data Center and Solutions, Inc. subsidiary, LWRC has decided to take on blockchain technology using EOS. The casino company hopes to become one of the largest EOS block producers in the Philippines and has set up a Technical Service Agreement with Fast Distributed Cloud Computing, Inc. (FDDC) in an effort to make it a reality.
In a filing with the Hong Kong Stock Exchange, LWRC said, “EOS is a distributed ledger technology platform which can be utilized in a number of ways, to include cryptocurrency, distributed applications and industrial blockchain.”
“LR Data is already in the network and data center business, in its normal course of business,” LRWC said in a statement. “LR Data only intends to host an EOS node in the Philippines, thereby becoming a BP [block producer]. As a BP, LR Data will provide the data center co-location, redundant and secure network operations and customer service. For its services, LR Data will be paid a hosting fee.”
All of the node operations for EOS are outsourced to the entire community. The node operators are referred to as hosts or block producers. In addition to the TSA signed with FDCC, the casino operator is in discussions to create a Cooperation Agreement. The LR Data Center would host and manage the network operations of the node.
The distributed ledger technology behind EOS can be used in a variety of applications, including distributed applications (DApps), industrial blockchains and cryptocurrencies.