INSIGHT BLOCKCHAIN - BITCOIN - LAND-BASED
Tomas Staudacher Managing Director ALEAx AG
Thomas has more than 15 years experience in the Gaming Industry. After starting in Security & Surveillance he moved to Internal Audit where he headed the Casino audit department within the Casinos Austria AG and Austrian Lotteries group from 2010 on. Especially during this time he gained deep understanding and knowledge about the operational and regulatory challenges and needs of land based Casinos, both on a national and international level. In mid 2019 he took over the lead of the
Blockchain.Bitcoin.Gam(bl)ing initiative by Casinos Austria International (CAI) which led to the founding of ALEAx AG in Liechtenstein in early 2020, where Thomas is now the Managing Director.
Thomas holds a bachelor degree in Business Administration from the Karl-Franzens University Graz and a Gaming Management certification from the University of Nevada, Reno. Furthermore he is a Certified Internal Auditor (CIA).
2020. Having established a very successful casino in Lichtenstein in 2017, Casino Schaanwald, Liechtenstein became the perfect proving ground for ALEAx's first project. "Liechtenstein has a ready- made blockchain/cryptocurrency regulatory framework whose rules we can adopt and comply with form the outset," explained Mr. Staudacher.
"As we chose for the initial project to accept the bitcoin currency for ease of compliance, Liechtenstein was the obvious place to both locate the company and launch our customer- orientated payments solution."
The initial project will build from a small base in Liechtenstein were Mr. Staudacher and his team will gather insights with a view to expanding into additional markets in the near future. "I think a host of countries in the EU will follow a similar path regarding cryptocurrency compliance," stated Mr. Staudacher. "Regulation within the EU is already well established with AML and KYC, whilst countries such as Switzerland, Malta and Lichtenstein have taken this a stage further with the adoption of dedicated blockchain legislation and regulation that exceed the current AML requirements."
THE ADVANTAGES FOR LAND-BASED OPERATORS
At this stage, ALEAx intends to only offer bitcoin as its preferred blockchain token, explaining that this is presently the most secure and reliable coin in circulation. However, Mr. Staudacher does not rule out the possibility Casinos Austria International could mint its own coin, primarily as a means to restrict volatility and add even greater security, but this is not something currently in development.
"Another potential area for consideration is the processing of payments in both the land-based and online space," stated Mr. Staudacher. "However, despite this being a very interesting area for future expansion, we are starting with the land-based payments solution that has the potential to take the next step into the online gaming side."
ALEAx believes that cryptocurrency is the perfect solution for international guests who enjoy the experience of travelling to multiple destinations to play land-based casino games. One of the challenges ALEAx faces is that the tech-savvy millennial familiar with this type of cryptocurrency technology is
P70 NEWSWIRE / INTERACTIVE / MARKET DATA
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