Mevu

meVu is a peer-to-peer, decentralized application that matches players who agree to odds on a bet. These bets can be centred on a sporting event or users can create custom bets on anything with two possible outcomes. Running on the Ethereum Virtual Machine, meVu’s open-source smart contract creates a secured escrow that is publicly viewable. This allows players to follow their Ethereum cryptocurrency “ETH” throughout every step of the betting process. Creating peace of mind that once the winner is determined the Ether will be paid out quickly, securely and automatically. All funds are held within a contract on the blockchain and no individual, company or government can interfere with the payout. meVu virtually eliminates the risk of hacking and regulatory interference as there is no single point of failure in a blockchain network. By clearing payouts on Ethereum, meVu can cut the waiting times of traditional sports books while reducing fees from 10 percent to as low as 2 percent because it is never processed by a bank or any 3rd party institution. Our platform pairs people to compete against each other, removing the need for meVu to fund and back bets. Disputes between players on supported sports games are sent to Oracles who are incentivized to reach resolution through consensus. Furthermore, reputation systems and leaderboards foster the spirit of competition and deter malicious behavior.