Much has been said about Bitcoin and its underlying technology, blockchain, is the right fit for online gambling. But how does blockchain improve the sector? For David Cho, chief executive of Betstore9, the technology makes the games “fair, transparent, and enjoyable.” He explains:
“As we know, the biggest problem in betting and gambling is really matter of transparency and a mutual trust but often in betting they [operators] fail to do this part, so we share, connect those to blockchain. It makes the game fair, transparent, and enjoyable.”
Cho’s Betstore9 describes itself as “the first blockchain platform” for “sharing, involving, and communicating.” It has a prediction betting community platform, called Scoinbet, which is essentially a “social network community based on blockchain.” According to the company, “Betstore9 receives and processes live match data and provide a variety of detailed informatics on ongoing matches and players as a sports community service.”
Cho explains further: “BetStore9 is gaming platform company, and we actually decided to use the word bet due to we’re not simply talking about betting or gambling, but also including wagering—giving rewards to the users to enjoy the game. Store is, we’re going to later provide a network, mainnet which is like an Xbox or PlayStation which is very specialized and customized platform for betting games or even casual games. 9 is just a lucky number.
“Currently we have four applications, and we are done hooking this up, sharing API with blockchain so we already have four dapps on the market and ready for just about any user to come in and enjoy our game.”
A growing number of blockchain-powered games have already appeared on the market, boasting their provable fairness and ability to work with cryptocurrency payments, particularly Bitcoin SV—the only blockchain that has real utility for businesses and consumers. And it’s only a matter of time before more operators buy in, as more companies and players see the benefits of blockchain gambling.
New to Bitcoin? Check out CoinGeek’s Bitcoin for Beginners section, the ultimate resource guide to learn more about Bitcoin—as originally envisioned by Satoshi Nakamoto—and blockchain.