Interactive
CRYPTOCURRENCY DAOGROUP
Blockchain has a wealth of mainstream industry use- cases, particularly when it comes to solving several long- term issues that have been pervasive in iGaming over the past decade. From random number generation to high transactions costs and performance bottlenecks; blockchain has the tech to solve it all.
partner of choice when it comes to boosting reach and engagement.
Cryptocurrency has caused plenty of compliance headaches. Do you see this trend changing anytime soon?
As we all know, it can be challenging to stay ahead of incoming compliance regulations – especially across Europe and LatAm’s patchwork of regulatory regimes. All any supplier involved in the crossover between crypto and gaming can do is ensure they are acting in a fully compliant manner and demand the same of those within their sphere of influence – the good guy always wins.
Change is inevitable, but we need to see pioneers in this space solving the compliance problem for operators. Tis has been one of the principal drivers behind the creation of our DAOWallet, the market needs a third-party solution that can provide an operator with full visibility all incoming coins. Tis is key to enabling tier one operators to get involved in the crypto demographic, as we can review the provenance of each deposit, which is an essential component of the AML process.
Not only that, but we’re also able to ensure that for the operator, all transactions from back office to bank are in fiat, which again solves a lot of these compliance problems as the only touch point of crypto is at the player level.
What more can be done from a regulatory perspective?
In one word – clarity. I cannot stress this enough: we have all seen what happens when regulators fail to properly communicate their frameworks – with a Scandinavian market that regulated at the beginning of 2019 being a recent example.
P152 NEWSWIRE / INTERACTIVE / MARKET DATA
Looking at the bigger picture, I am confident more that will be done from a regulatory perspective. Change is inevitable with so many businesses and people beginning to adopt crypto, authorities need to start laying down guidance if they want to properly serve the jurisdiction they are mandated to protect.
Moving onto blockchain - what is the argument for bringing it into the mainstream?
Blockchain has a wealth of mainstream industry use-cases, particularly when it comes to solving several long-term issues that have been pervasive in iGaming over the past decade. From random number generation to high transactions costs and performance bottlenecks; blockchain has the tech to solve it all.
In its essence, it has been specifically designed for businesses to call low speed transactions, high network fees and weak throughputs a thing of the past – and long term, I see no
reason why it won’t be a mainstream fixture through the 2020s as its benefits become more well known.
What is different about using blockchain certified RNG software for gaming?
What we must remember is that blockchain is essentially a distributed ledger – which means that on a blockchain, game developers can freely use our certified PRNG algorithm, enabling all the games on our platform to be inherently random.
Tis means that operators can distribute games without the need for a certification as it is in effect pre-certified via the blockchain. Te principal reason this mechanic is yet to hit the mainstream is the fact that, until recently, it has been extremely difficult for blockchains to provide a level of randomness that is tamper- resistant enough to be used across gaming.
Of course, we are looking to change that with
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