The news of a recently announced new platform for online gambling sent ripples through the online casino community. Once operational, the decentralized platform is set to enhance the ease of entering the online gambling world as well as the ease of operating online gaming establishments. Announced by Blockchain developer Nico Ami Lee, the CoinDirect.io will eliminate the need for a middleman and use cryptocurrency to transfer assets to accounts of online players.
With the aid of Blockchain networks such as BitShares and Bitcoin, a much-needed distance between player monies and online casino managers occurs. Both players and online casinos will approve of this change. Although casinos typically use the “Fairness Check” process to maintain openness in their dealings, the system still contains flaws which can allow online casinos to keep valuable information from their players.
Because of this, regular and in-depth audits need to take place; increasing the cost of operating the online gaming establishments. In contrast, employing Blockchain technology from the CoinDirect platform does not require substantial oversight or significant fees.
It also adds an element of freedom to an industry which, by necessity, operates in a cautious and extremely standardized manner.
Customers who frequent online casinos will enjoy the transparency on the part of the casinos as well as the ease of operating within the cryptocurrency world. The Blockchain will automatically track transactions in an irrefutable collection of linked data; managing assets will be secure, transparent, and nearly instantaneous. Moreover, the management of individuals’ funds is automatic.
Clearly, this decentralization presents itself as a win-win for online casinos and their patrons. By lowering the operating costs of the online gaming establishments by millions of dollars, casinos can eliminate or decrease the startup fees and other expenses of players.
Nico Ami Lee highlighted the following benefits of the CoinDirect platform.
• Eliminate the need for casino auditing
• Total transparency
• Immediate transactions
• Complete control of individual assets
• Decreased gambling fees
• Direct player to player fund transfers
CoinDirect is continuing to perfect the platform and expects to launch a limited Beta-version of the revolutionary program on October 15, 2017. The anticipated full-scale launch date is January 1, 2018. An advanced sale of Bitcoins began on April 1, 2017, and will end on August 31, 2017. The company allotted 6,500 Bitcoin tokens for the presale.
Once in full swing, the new decentralized platform by CoinDirect will make a significant impact on players and online casinos for years to come.