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Events


IAGA SUMMIT Macau 2018


Andre Wilsenach, Executive Director - UNLV International Center for Gaming Regulation


André Wilsenach is the Executive Director of International Center for Gaming Regulation, established in partnership between UNLV’s International Gaming Institute (IGI) and the William S. Boyd School of Law, aimed at promoting international best practices in gaming regulation.


Wilsenach is a graduate of the University of Pretoria in South Africa and worked for the University of Pretoria, Africa Institute of South Africa, Development Bank of Southern Africa, Ernst & Young and the South African Government prior to a longstanding career in gaming.


In 1995, he was appointed to a Commission aimed at advising the South African Government on the legalisation of gaming in South Africa. During the period of 1995 to 2000 he was CEO of one of the South African provincial gaming boards whilst serving on the National Gambling Board of South Africa. In 2001 he was appointed CEO of ZMS, a private company established to render electronic monitoring systems and services to the National Gambling Board of South Africa. In 2002 he was appointed as Executive Director of the Alderney Gambling Control Commission and served in this position until January of 2016.


In his capacity as gaming regulator Wilsenach was instrumental in promoting regulatory best practices around the world. He was the keynote speaker at the first international eGambling Summit held in the UK in 2006. He provided testimony to the Financial Services Committee of the US House of Representatives concerning the introduction of the Internet Gambling Regulations Enforcement Act, 2007. He was a keynote speaker at the American Gaming Association’s 2008 Global Gaming Summit in Las Vegas.


P72 NEWSWIRE / INTERACTIVE /MARKET DATA


Cryptocurrency & Blockchain: Coming to a Casino Near You?


If you’re not sure why Cryptocurrency and Blockchain are such important topics within gaming right now, then this session will open your eyes, if not your digital wallets, by exploring what cryptocurrency and blockchains are, how they are used in gaming, and the benefits and challenges they pose for operators and regulators. G3 took the opportunity to speak to André Wilsenach, Executive Director - UNLV International Center for Gaming Regulation, about the session he’s moderating at the IAGA Summit in Macau this month.


Tis year, multiple governments around the world have indicated their intention to research and implement a national digital currency. Just in the past few months, the governments of Catalonia and Russia declared their interest in issuing their own official digital currencies. Other states, such as Dubai, have already officially decided to do so. However, although central bankers globally are discussing the option of making centralised digital currencies that constitute legal tender, at the present moment, the US Federal Reserve has no serious intention of introducing a digital dollar, but that’s not to say it isn’t seriously looking at the possibility.


While one of the advantages of Bitcoin is that it anonymously allows for financial transactions to take place, governments hold the opposite view. Issuing their own cryptocurrencies would provide governments with valuable consumer spending data and reduce the dependency of countries on cash- based transactions. It’s the foremost reason why Japan is considering launching j-coin, a digital currency convertible on a one-to-one basis with the yen, just in time for Toyko’s hosting of the 2020 Summer Olympics.


Even the IMF is considering a coin of its own. Tere is certainly concern within governments and Central Banks that Fiat Currencies should implement their


own cryptocurrencies to avoid consolidation of the financial sector among a small number of commercial participants and payment processors.


HEADING DOWN THE CRYPTO-RABBIT HOLE “My concern around any blockchain discussion is that


while you can’t ignore cryptocurrency within the wider context, it has a tendency to send the entire conversation down a rabbit hole,” explains Andre Wilsenach: “Tere are too many options, too many wallets, unique benefits, and everyone is claiming that their coins are better and higher in value than someone else’s coins - it’s a nightmare. So I don’t think there’s much value in going down that discussion route. Te issues around cryptocurrencies will sort themselves out.


“Te large fiat currencies see the sense in digitising their currencies and I wouldn’t be surprised if those *fiat currencies and their Central Banks are now looking seriously at how they manage the shift to cryptocurrencies,” continues Mr. Wilsenach. “Te moment you introduce digital currencies it takes away an enormous amount of friction, though this ultimately has huge implications for the banking sector. At this stage I’m not sure there’s an appetite within the commercial banks for such a massive change, however, I do think one of the major fiat currencies, be that sterling or the dollar, will digitise


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