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Interview with Ronit Khopkar — Cofounder & CEO of DGbet
AffPapa recently spoke with Ronit Khopkar, the Cofounder & CEO of DGbet. Ronit talked about the inspiration behind DGbet, his experience in blockchain development, along with insights on the future development of decentralized betting and DGbet’s anticipated role in that evolution.
Yeva: Ronit, what was the inspiration behind DGbet and what moved you to create a decentralized prediction market platform?
“The wisdom of the crowd” is known since Aristotle’s time as a preferred approach to decision-making and to communal living. Aristotle suggested that a collective group of individuals, even if not each individually excellent, could collectively make better decisions than a single person. Prediction markets not only collect the wisdom of the crowd, but also incentivize people to correct their opinions based on the turns the majority takes in a matter. Even if a poll were taken every hour on the same matter, it still wouldn’t be able to catch up with the fluctuations of the market, which automatically adjusts the odds with each new opinion added to the mix.
We were strongly impacted by this thinking and Blockchain technology offered us a transparent and secure way to build the platform we envisioned.
Yeva: Do you have any experience in the blockchain space that shaped the concept and execution of DGbet?
Yes, the core team has spent 10+ years in blockchain development, deep data science and analytics. This experience clubbed with our foray in the iGaming industry helped us identify the existing problems faced by the users with centralized operators. Some of them being – wager limits, lack of transparency about the sportsbook liquidity, and delayed withdrawals.
Yeva: What kind of feedback have you received from users about the decentralized betting experience?
We have ensured that when a user lands on DGbet they get a familiar experience, and don’t need to know that the platform operates on Blockchain technology. Our users enjoy the fact that we publish all our reports openly and are publicly verifiable. So they are aware of the platform’s liquidity when dealing with us. Apart from the transparency, users are also delighted by the fact that they can engage with our platform from any location.
Yeva: How do you see decentralized betting developing in the future, and what part do you anticipate DGbet playing?
Decentralized betting will become the core of prediction markets in the future. But it won’t be what we think of now. Blockchain technology will silently power the back-end and the user will not be concerned about the technicalities, very similar to how a user does not care if the company’s server is hosted on AWS or locally; but rather is more interested in the product that company has to offer. Prediction Markets will become globally accessible and DGbet will play a pivotal role in building that future.
Yeva: If you could picture it, what does ultimate success for DGbet look like in the next five years? Is there an exciting feature or upcoming development that you’re personally looking forward to?
Our long term vision is to bring the power of blockchain technology to the industry and become the go to platform for prediction markets. Keeping our goal in mind we will first create deeper market depth in sports prediction products and then further progress into games of chance, social and political events. We would also love to design our own Games in the Future.
Yeva: DGbet recently became partners with AffPapa, making a valuable addition to our directory as an operator. Can you tell us how it came about?
I have been in touch with Yeva for over a year now. She has been a valued evangelist of Affpapa. More importantly she has been very patient in helping us understand the value that Affpapa brings to the table. We are extremely excited to partner with you guys.
Yeva: Where can our audience go to learn more about DGbet and stay updated on your latest news and developments?
Check us out at dgbet.fun
Sharing access to our socials here
Yeva: When you’re not working on DGbet, what are some of your interests or hobbies that help you relax and stay motivated?
I love to read. I have recently switched from Business books to Novels. They really help me unwind from work. Currently I am reading – Fire & Blood by George R. R. Martin, The Visitor by Lee Child and Rudyard Kipling’s short stories. Apart from that, a healthy dose of daily Yoga helps with mindfulness.
Company: DGbet
Interviewee: Ronit Khopkar
Date: 06.08.2024
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