BLOCKCHAIN INNOVATIONS CORP QA & Why blockchain
Matthew Stafford, CEO of Blockchain Innovations Corp, talks about why blockchain and smart contracts are the future of iGaming platform.
SPORTS BETTING
Casino International Online: What is Blockchain Innovations Corp (BCI), and what products and services do you offer? Matthew Stafford: BCI is a B2B technology provider that has a comprehensive suite of market ready gaming-by-design smart contract blockchain technology. BCI’s technology is the only on-blockchain solution that is deposit-less and has instant confirmation for wagering on live events. BCI’s technology provides solutions to sportsbooks and lotteries, fantasy, e-sports, skill, and other P2P operators. Running on PebbleCoin, our smart contracts eco-system
E-SPORTS
includes a fully functional crypto-wallet and tipbot, “PebbelShare”, which allows users to exchange popular crypto such as Bitcoin and Ether for Pebble when wagering. Developed over the past three years, the smart contract eco-system is deposit-less, secure, and runs at near-zero cost compared to traditional and other crypto platforms with features not possible on Ethereum or wagering tokens.
CIO: Who are the key staff and what is their industry background?
LOTTERY
MS: I am the CEO and have 10+ years’ experience in regulated gaming and public markets as an attorney, most recently with Scientific Games and NYX Gaming Group where I was General Counsel pre-IPO, through the acquisition and integration of Openbet. Morris Mosseri is CTO and Founder. He has 30+ years’
DAILY FANTASY SPORTS
experience in technology, including building Blockchain technologies over the last 5 years [MJS1]and launching a successful crypto mining business. Prior to developing BCI’s technology, Morris, created large scale sports trading system integrated with over 80 operators in European markets. David Wang is the Chairman and Founder. He has 15
PARI-MUTIAL BETTING
56 JULY 2018
years’ Executive Management experience in gaming, holding positions at Wynn Resorts, MGM Resorts, and SEGA, and has more than four years’ experience in Blockchain technologies.
CIO: What gap in the market have you identified, and how does BCI fill it? MS: Players and gaming operators depend on technology and systems that haven’t improved from the
dot.com era. As a result, both the individual and the companies that cater to them will continue to absorb high, third-party costs and unnecessary barriers to participating in the digital economy of the modern era. This isn’t a sustainable system and one can’t expect a better outcome by building a platform for today’s modern operator on yesterday’s technology. Having the benefit of three years of development and building the blockchain with live-event wagering in mind allowed us to engineer around the limitations or susceptibilities in other crypto-currencies and crypto- casinos. What is in the marketplace currently isn’t disruptive technology and it isn’t harnessing the power of a distributed network; it’s simply wagering with cryptocurrency like a new form of fiat money with the same limitations of trust for deposit and withdrawals. The confirmation times for Bitcoin (one hour) and
Ethereum (180 seconds) don’t allow for live-event wagering, and smart contract platforms that use them must sacrifice the distributed network, require users to deposit fiat money or participate in a complicated share scheme, and run at a higher cost because those coins rely on inflation to incentivize the miners. This creates costly security issues that numbers in the billions for Bitcoin. PebbleCoin is the one of the first crypto-currencies to utilize smart contracts and trade them as freely as coins – with a revolutionary next step. Attached to each contract is the outcome a public event such as a football match, horserace, performance of a fantasy line-up, or a currency’s price. PebbleCoin utilizes a best-of-breed crypto-note distributed ledger and a delegated proof of stake distributed network for maximum security, properly incentives those scoring the contracts through a public system of scoring and
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