17 - 20 July 2018, RAI, Amsterdam

Media

Interview with SoftSwiss ahead of EiG

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1. How would you respond to those who say that blockchain technology will never take off?

To those who are still not aware of the progress that blockchain technology has achieved lately I would just recommend checking the news on the internet more regularly. It is quite obvious that blockchain has become the most effective tool for keeping track of all bitcoin transactions, thus influencing not only gambling, but other spheres as well. Finance and auditing are among the industries where blockchain is already widely used, replacing the existing tracking and reporting systems, eliminating plenty of the back-office work and presenting a perfect ledger for all transactions, ICOs etc.

2. What are the main benefits of playing at a blockchain casino?

First of all, no casino runs 100% on blockchain yet if we are talking about traditional online casinos that we like to play. But casinos working with cryptocurrencies are all using the technology to some extent, e.g. for managing payments and transactions. The advantages of such casinos are those that Bitcoin and other cryptocurrencies offer. Number one is transparency: players can make sure that the play is absolutely fair and the results are never falsified. Number two is high security of transactions since changes to the blockchain are extremely difficult or impossible and are immediately visible to others. Number three is lower transaction costs that operators handle, meaning that more remains to the player and operator. Number four is faster transactions, which are possible since no third parties are involved in payment processing.

3. How do you ensure blockchain payment safety at SoftSwiss?

Blockchain payments are initially very safe, that’s the main benefit of the technology. Casino operators appreciate it because it helps fight against chargebacks. To make it even safer, we have created an internal security system to provide additional protection to both players and operators. Each payment is going through several levels of checks, automatic and manual, to make sure that every single transaction is 100% licit.

4. Where does responsible gambling fit in to blockchain gaming platforms?

There’s no controversy between responsible gambling and blockchain. Many reputable cryptocurrency casinos hold licenses from gambling jurisdictions and are following the same rules and principles that fiat currency casinos do. They treat users very responsibly by guaranteeing their financial security and providing an opportunity to check the results. Besides, such casinos offer equal opportunities to players from all parts of the world, which seems very fair.

5. What will be the key topics of your presentation at EiG’s inaugural blockchain seminar?

My main goal will be to explain in simple words the essence of blockchain technology and how it is already used in various industries. I’ll definitely focus on gambling and dwell upon the perspectives of blockchain in the growing market of cryptocurrency casinos.

 

To view the blockchain agenda please click here