When we hear about Libra we immediately think of Facebook’s “crypto” and its blockchain, or rather, the system it will use to manage transactions and its smart contract protocol called MOVE.
And it is on this feature that some European developers have focused on, using its programming language to create a smart contract for organizing a lottery system.
A user bets a figure on a specific event and if the related event happens, then the user wins the bet. This, translated into the insurance world, results in a user paying for the service offered by the insurance company, which has set up an event that may be a theft, fire or other, and the insurance company thus undertakes to pay the user if that particular event should happen.
The post is very detailed and contains all the scripts to follow with an explanation of what it would take to set up a DIY lottery on the Libra blockchain.
In addition, it is possible to create both a lottery and participate in it by setting the number of participants and the amount of the ticket, while the choice of the winner and the prize must be done manually.
At the end of the post, the team explains that it wasn’t easy to build this system, as in reality, they encountered many problems due to the fact that the documentation available on Libra is not complete.
In the meantime, the Libra project seems far from abandoned: in fact, only last month, the FINMA was asked for a license and Shopify joined the Libra Association, showing that maybe 2020 could be a year of development and establishment of future plans for this project.
