PROVIDENCE: Crypto Casino and Resort First the best of the century

Well here I will explain about Providence. But first I will discuss about Casino and Resort.

What is Casino ?

Casino is a building designed where one can carry out gambling activities (legally).

Normally casinos are run by companies that benefit from gamblers by offering games where customers have to make unprofitable bets (eg game craps, roulette and so on), or, games that are statistically break even. Here the casino businessman asks for a commission on the bet customers who play with each other. Suppose in poker game, pai gow, baccarat and so on.

Casinos are often combined with or near hotels, restaurants and other holiday attractions so gamblers can stay longer.

Famous casinos found at:

• Monte Carlo, Monaco
• Las Vegas, Nevada, United States
• Atlantic City, New Jersey, United States
• Macau, People's Republic of China

Scattered in the Netherlands are also found casino Holland Casino, for example in Amsterdam, The Hague (Scheveningen) and Rotterdam.

What is Resort ?

Places to stay that have a variety of special facilities used by tourists for leisure activities, sports and traveling while enjoying the natural beauty that is around the resort. Examples of such facilities are golf courses, tennis, spa, jogging track, hiking, and so forth.

With the resort the visitors can enjoy the various facilities so that a vacation to a place becomes easier and fun. In addition the construction of the resort can also open the field workers to manage the resort. People around the resort also benefit from the many wisatan that come because they can open various businesses such as selling food, selling souvenirs, tour guide services, and so forth.

What is Providence ?

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.

The Concept Providence

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.

Micropayments & Fees

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.

Market Downtrend

   

Protected Winnings in Volatile Markets.

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.

Market Uptrend

Let your Winnings Ride in a Market Uptrend

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.

Technology Ethereum

Providence Tech Stack

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.

The Providence Exchange

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.

The Online Casino

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.

Raiden & Lightning Network

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.

Providence Token

Providence will introduce its token, short-coded PVE. PVE’s utilisation is to power the Providence Network. It will be used as the internal settlement currency, buy-in currency for casino gamers and consumers as well as an asset representing and reflecting Providence business performance on the markets. A total of 200,000,000 Providence tokens will be created following the Ethereum ERC20 Standard. 

Token Sale Summary

Providence will accept a maximum of 114,000 Ether (Max Token Sale Cap) in its token sale. This amount is set to be collected in two phases; Pre-Token Sale and Main Token Sale, both of which will be crowd funded.

On 28th of September, 2017, Providence will start the PRE-TOKEN SALE and offer PVE Tokens to the community for a price of 1 ETH = 810 PVE Tokens (35% bonus applied). The pre-sale has a fixed cap of 14,000 ETH (Max Pre-Sale Cap)

The second round of PVE Tokens will be offered to the community in the Main Token Sale for a price of 1 ETH = 600 PVE Tokens. The Main Token Sale has a fixed cap of 114,000 ETH. It is going to be held in November and the exact date will be announced after the pre-sale.

One particular thing that we need to highlight is that our investment partner Vlora Asset Management has participated in an OTC deal for institutional investors and reserved 15% of the tokens offered in the upcoming token sale. This gives us huge backing from the industry and has already set some milestones to be achieved sooner.

Vlora is an independent asset management company with a palette of strategies ranging from active and passive investments solutions with a focus on property management and real-estate investments. Their fundamental investment strategy relies on bottom-up analysis to identify high-quality companies at attractive prices.

1. 51% of Tokens is reserved for Token Sale Contributors

• 36% of Tokens will be offered to Community Contributors
• 15% of Tokens is reserved for Vlora Asset Management which has already participated in our OTC deal for institutional investors with a vesting period condition of 6 months attached

2. 49% of Tokens will stay in Providence Management

• 31% of tokens will be retained by Providence for Casino Bankroll held in PVE Tokens. The tokens held in the bankroll will be used for:

          1). Physical Casino Liquidity

          2). Online Casino Liquidity

• 4% of PVE Tokens will be used for Marketing & Promotional activities.
• 4% of PVE Tokens will be used for Bounties.
• 10% of PVE Tokens is allocated to the Founding Team and Strategic Partners & Employees. with a vesting period condition of minimum 6 months attached.

Token Sale Structure

• Token name is Providence (PVE)
• Token type is ERC20 application token to be used for transactions and consumption
• Token price (Main Sale) is 1 PVE = 1/600 ETH (1 ETH buys 600 tokens)
• Token price (Pre-sale) with 35% bonus is 1 PVE = 1/810 ETH (1 ETH buys 810 tokens)
• Total supply is 200,000,000.00
• Token Sale Cap (51%) is 102,000,000.00 PVE
• Accepted currencies in Token Sale is ETH
• Minimum Contribution Amount for Token Sale is 0.05 ETH
• Minimum Contribution Amount for Pre-Token Sale is 5 ETH
• Pre-Token Sale Bonus is 35%
• Pre-Token Sale Special Contributors is Providence Exclusive Debit Card
• Sale Participant Eligibility is Anyone except Singapore and US due to legal restrictions
• Total percentage (%) of tokens allocated for the Token Sale Contributors and it will be distributed in two ways 51%
• 1) Community Contributors 36%
• 2) Vlora Asset Management 15%
• Total percentage (%) of tokens allocated to Casino Bankroll 31%
• Total percentage (%) of tokens allocated to Marketing & Promotions 4%
• Total percentage (%) of tokens allocated to Bounties 4%
• Total percentage (%) of tokens allocated to Founders, Strategic Partners and Employees 10%

Roadmap & Timeline Providence :

Might be subject to change at this moment

1) January 2017

    Providence Idea & Concept
    A story begins

    The first concepts and plans are put to paper. Core management and investor team is formed.

2) 1st September 2017
    
    Providence Website
    First version released

    The first version of the site is released and carries most relevant information about the Providence       project and the upcoming PRE TOKEN SALE.

3) Mid September 2017

    Providence Whitepaper
    Providence Business Model

    A detailed white paper laying out concepts and business details revolving around Providence              Crypto Casino & Resort.

4) 4th October 2017

    PRE-TOKEN SALE
    Early Contributors

    The first batch of tokens with a 14,000 ETH Pre-Sale cap will be placed on sale for early investors.
    The pre-token sale will last for two weeks with incentivized bonus & reward structure for early          investors. More info will be released on the upcoming pre-sale page and whitepaper.

5) October 2017

    Online Casino Beta Version with Lightning Network integrated
    Open to all interested gamers

    First BETA version of the online casino platform is introduced and opened to general public.              Testnet Currencies will be available for introduction to the platform.

6) November 2017

    MAIN TOKEN SALE
    Open to all interested contributors

    The rest of Providence(PVE) Tokens will be placed on sale and offered to the public. The Token          Sale will be active for 30 days with a Max Hard Cap of 114,000 ETH.

    Start of Intensive Marketing Activities
    Marketing Campaigns for the upcoming 2018 season

    Heavy marketing campaigns will be launched to promote Providence's opening in Q2 2018 with          the pallet of services and facilities.

    Engagement of Design Consultants and Architects
    Development of interior layouts, plans and mockups

7) December 2017
    
    Updates on Providence Architectural Activities
    Blueprints, Photos, Mockups, and Layouts.

    Procurment of 99-year lease for Casino Premises
    Issuance of Providence Casino Licence

    Online Casino Platform Launched
    Four major cryptos (BTC, LTC, ETH, PVE) deposits will be rolled out with initial set of games.

    Start of Casino and Hotel Renovation & Refurbishment
    Actual construction work starts on the Providence premises.

8) First Quarter 2018 (Q1)

    Providence Gold & Silver Debit Cards
    Cards are shipped to exclusive pre-sale contributors that participated with selected amounts.

    Providence Progress Updates
    Two checkpoints with updates on the Casino & Hotel Renovations

9) Second Quarter 2018 (Q2)

    Integration of Providence Exchange
    Providence Exchange system linked to Casino and all other facilities in the Resort

    Providence Crypto Casino & Resort opens for Guests
    The big day arrives. Exact Dates will be announced in 2018.

10) First Hall of 2019

     Integration of Offline & Online casino
     Online casino to be interconnected on top of Physical Casino with unique ways of new gaming.

11) Second Hall of 2019

      Providence Expansion Plans Announced
      New roadmap, plans and partnerships will be introduced.


Providence Team

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.

For more information, you can visit our official website as follows:

Providence : https://www.providence.casino/

Or you can join our community below:

• Facebook : https://www.facebook.com/ProvidenceCryptoCasino/?fref=ts
• Twitter : https://twitter.com/cashlesscasino
• Reddit : https://www.reddit.com/r/providence_casino/
• Slack : https://join.slack.com/t/providence-resort/shared_invite/enQtMjQyMjkzMjEyMDg0LWFkZDgwNmMyMWU2NDJhMDU3YzNmNGZhZTEwNGNiYjAwZWZjNWU2NzQxNWI3NzU3YmQzNTI0YTM2NmM1OTA0ZjQ
• Telegram : https://t.me/providencecasino
• ANN Thread : https://bitcointalk.org/index.php?topic=2185207

Authors by Dico88