DECENT And Dragonfly Launch ALAX, A Project Using Blockchain To Revolutionize Payment Processing In The Gaming Industry

Blockchain technology platform DECENT, in partnership with Dragonfly, a distribution platform for games, today announces the launch of ALAX, a project that is already in development, will use blockchain to improve the speed and efficiency of app sales.

DECENT has developed a proprietary blockchain platform called DCore which will help Dragonfly reduce costs, tackle piracy issues, and speed up exchange rates and payment processing.

Traditionally, to buy games or apps, users had to use PayPal, credit cards, or make payments using prime rate SMS, where mobile network operators would take 50-70% commission from the price paid by the user for an app/game. This becomes especially problematic in countries where the primary method of payment is via SMS. With ALAX, payments can be made directly to the developer using ALAX tokens. This reduces the prices for content for gamers, and expedites the transaction. Game developers can then exchange the ALAX tokens for a FIAT currency (USD, EUR, THB, PHP..) at any time.

Since all the transactions are recorded in the blockchain, developers will have a precise overview of the sales of their games, and be able to ensure they are getting a fair deal. It will not only increase the confidence of game developers but also keep up with the ever-increasing demand for game sales – which is currently at 2000 transactions per second and expected to grow to 7000+ in the coming years.

The gaming industry is becoming a dominant force in the world market, and continues to see an annual  increase in app and game downloads. However, the market remains tough for game developers. DECENT estimates that game developers receive max 70% of app sales, and it can often take 3-6 months for all payments to be processed, creating a delay in payouts. The launch of ALAX will further develop this transparent blockchain market, creating a smoother and more efficient transaction process.

“Since partnering with Dragonfly we have been committed to providing a framework where users have a method of payment that is as easy as an SMS payment, but where collection would be instant, and with no commission,” said Matej Michalko, Founder, CEO and President of DECENT. “We are proud to have made this possible with the launch of ALAX.”

The ALAX app store will be created initially for Android, and launched on markets, where Dragonfly currently has the strongest representation, India, Thailand and the Philippines. Additional markets will be added later on.