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BLOCKCHAIN INNOVATIONS Connecting the blocks


Matthew Stafford, CEO of BlockChain Innovations Corp, talks to CIO about the impact blockchain technologies will have on the sector.


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lockChain Innovations Corp is spearheading the blockchain revolution across the global online gambling industry with its cutting-edge Pay-As-You-Go Wagering Platform and Wallet – a solution that allows operators to use blockchain technologies alongside their current systems.


But while the supplier’s platforms and services are advanced, the rate at which the sector has embraced blockchain is not. BCI Chief Exec Matthew Stafford says there are clear reasons for this, and that the business is evolving in line with the trajectory of the market. This is being driven in part by its recent acquisition of The Games Company (TGC). CIO talked to Stafford about the challenges the business has faced so far, how they have been overcome and what he has planned for TGC moving forwards.


CIO: What are the greatest challenges you’ve faced and how have they been overcome?


MS: We know the blockchain process we want to bring to market – Pay-As-You-Go Wagering – which is comprised of our blockchain wallet and platform. It has however been challenging to find a viable way to create a solution that is both a value-add (and complementary to an operator’s existing system) and a transaction method that is attractive to players.


Our Pay-As-You-Go Wagering solution allows a player to bet using funds from their own Bitcoin wallet and receive any winnings directly to a Bitcoin wallet, while the operator wins or loses in USD/EUR/GBP.


Any operator can seamlessly integrate with us through a single API to allow their players to win or lose in Bitcoin. Using our blockchain technology, these transactions have no deposits or withdrawals, so a player can use the available funds in their Bitcoin wallet to wager instantly, and when a bet is settled, have instant access those funds in the same wallet.


88 FEBRUARY 2019 CIO


While the technology is available to operators today, the wider industry has been slow to embrace it to date


But while the technology is available to operators today, the wider industry has been slow to embrace it to date.


CIO: Why do you think that is and will this change in 2019?


MS: The market has quite emphatically shown that solutions that work only with a proprietary currency are not viable and operators remain reluctant to deal in cryptocurrency even where a regulatory framework is in place. We’ve gone through several iterations to fully understand these points.


We remain confident that the trajectory and narrative of our blockchain product will change with our new ability to offer provably fair casino games following our recent acquisition of The Games Company (TGC) and the on-boarding of our first client.


CIO: Can you give a little more insight into your acquisition of The Games Company? MS: Purchasing TGC, along with our core products, establishes BCI as a full-product suite B2B gaming platform supplier for sports, casino games, and payments on our proprietary blockchain technology and provider of conventional igaming content. Since TGC’s games currently run on its own remote gaming server, in the short and long term TGC will continue to be integrated with customers through conventional platforms as our modern technology becomes adopted and deployed.


In the short term, TGC’s customer network


and complimentary set of current and anticipated gaming licenses allows us to showcase TGC’s games as Provably Fair enabled. Going forward, we then want to leverage those relationships and licences to cross-sell and deploy our Pay-As-You-Go Wagering and Sportsbook blockchain solutions.


CIO: How will this acquisition drive BCI forwards and how does it fit in with your wider plans?


MS: One practical benefit of the TGC transaction is that their current and anticipated gaming licences line up with jurisdictions like Malta where the intersection of gaming and blockchain has a regulatory framework. That means we can offer and deploy our blockchain solutions, as well as TGC conventional iGaming content. What’s more, as a Canadian company, the fact that TGC is live in Quebec and expects to expand its offering in an additional province this year jump-starts our entry into our own backyard.


We believe our products offer a compelling choice to TGC’s state-run lottery clients because BCI’s blockchain solutions run the majority of a lottery’s cost-intensive operations, funded through taxpayer dollars, at a significant savings versus conventional platforms.


Since the revenues of government lotteries are earmarked for other public agencies and projects, our solutions’ savings have a greater impact for a lottery customer’s “business”.


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