Did the Trueplay Gambling Platform Just Set a New Standard for Blockchain-Tech?
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Blockchain is often hailed as the solution to most, if not all, problems facing humanity: from establishing a single decentralized currency to building an unprecedented level of trust between people. While these are definitely worthy goals, one can’t help but wonder about the real life applications of blockchain tech today. A good example of an industry in desperate need of a blockchain overhaul is online gambling.
Online casinos, while an enormous business, have been plagues by numerous issues, and recently, it appears, a blockchain-based platform has embarked on a mission to rid online gambling of them. One platform was developed in 2017, and quickly gained attention as a viable solution to most of the industry’s problems.
It’s blockchain-based transaction system allows for quick, but most importantly, transparent and guaranteed token deposits and withdrawals that work across multiple casinos. This eliminates the unpredictability and frustration of long withdrawal periods and commissions. Numerous gambling project’s transactional models just weren’t transparent enough.
ICO Analyst and Crypto Expert Wannipha (Jen) Buakaew says:
“You can’t miss the fact that the TruePlay platform will not be used just for one casino and as such effectively becomes a proper ecosystem for many different gambling projects, which is in itself an industry-wide game-changer, and not just a one-off project.”
Through its proprietary token TPLAY, TruePlay aims to build a unified ecosystem, a gambling marketplace with a single secure authorization, customer support, funds deposit and withdrawal mechanism, that works on any gambling project the player chooses.
Nikolay Zvezdin, CIO at Envinary, says that,
“It’s not just the project that looks promising, the most interesting part is the KYC and protection algorithms. If everything that TruePlay states as its goals is going to be achieved, it has the potential to develop something of a PayPal-level security for gamblers and affiliate partners, which is unprecedented.”
The team behind TruePlay are no strangers to online gambling. Oleksiy Mageramov, the platform’s CEO, has been in the gambling business for over a decade, and so has Oleksii Ragozin, the team’s COO, who has spent the last six years as the COO of a major European online gambling project where he worked on technical & financial support, along with financial transaction algorithms.
Pankaj Gupta, ICO Adviser and marketing expert says:
“This is a highly competent core team and advisory board with enormous experience in the gambling industry. That’s perfect storm if you want to change something in the industry. The fact that TruePlay’s MVP is a fully functioning casino is telling.”
A blockchain-based gambling project with an MVP is a rare instance, but a project whose MVP comes in the form of a fully licensed casino (Fairplay.io) by Gamingtec is something that makes one think this isn’t the last time we hear about this project. The fact that PokerDom, which is one of the world’s largest poker rooms, began accepting TPLAY tokens as form of payment is just another proof that the TruePlay concept actually works.
The TruePlay token (TPLAY) is in its pre-sale period, with a private round for investors of ETH 100 or more currently going on. There have been rumors that on May 15th, Gamingtec’s FairPlay.io is set to roll out new games and a UI overhaul, thanks to a major upgrade by TruePlay.
This – an actual working, even licensed, casino – is where you can see what blockchain can do for the industry today, not just in the future. Maybe this is where a new standard for blockchain-based tech should be implemented: one that forgoes whitepapers and MVPs, and asks for something very specific: a real-life application.
For more information, visit https://trueplay.io
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