It seems that blockchain could become a real changer for the iGaming industry. However, the biggest challenge of every gaming business today is the question of trust. Online casino players can be cheated and it’s impossible to be sure that the results of games haven’t been manipulated.
Considering both obstacles, the biggest players of the gambling market have a strong feeling that blockchain may become the only reliable option for the industry to keep growing. Along with blockchain capabilities to secure bets and transactions, digital assets have a solid bunch of advantages for those who want to play for money. All personal and financial data are secured and protected, there are no limits for transactions, withdrawals are processed without third parties being involved, which means no extra fees. And overall, the whole procedure of making deposits and payouts takes less time and efforts.
A new crypto casino FairPlay.io could be fresh proof that a crypto revolution in the gaming industry has already begun. FairPlay is based on a b2b blockchain platform called TruePlay.io and offers games that cannot be falsified thanks to blockchain and smart contracts. Using TruePlay complex solution, online gambling projects can provide fair and blockchain-secured business to all members of the market: game providers, affiliates, players.
I spoke to Stanislav Makarchuk who is the CTO of TruePlay and one of the pioneers of gambling development in CIS countries with his debut gambling project being released back in 2002.
What exactly is your solution and how does it claim to change the industry of online gambling for better?
“In the very beginning, we analyzed the market, had dozens of interviews with its participants and learned more about existing solutions. With all the data we collected, we realized that there is no one who could offer complex software that could actually provide transparency and solve problems for all members of the ecosystem. It is a full-featured b2b platform for licensed online gaming projects and is not involved in the gambling operation per se, but can be integrated as a form of security for gambling sites. TruePlay is to authenticate games through blockchain and provide help in ensuring players that all their bets are fair and safe”.
Makarchuck explains that TruePlay provides full access to the game statistics. All transactions are tied to the partner from the moment of registration through publication into the blockchain. The players can be sure that the statistics are true and complete, since TruePlay receives it directly from the Game Provider, making it impossible for the operator to intervene. All very intriguing I’m sure and if this works it will certainly be a game cahnge for the industry.
He adds that webmasters can rest assured that the traffic is not cut, operators and game developers receive a decentralized structure of access to their game content and are protected from copying their brand and games. TruePlay has its own transaction system that allows fast token deposits, eliminates the headache of long withdrawal periods and extra fees based on individual casino’s commission. Certainly a bold statement and which seems to offer a solution to the security and fraud problems that currently plague the industry.
Have you already implemented TruePlay in online games?
“Our solution works for both multiplayer online games and gambling projects. We partnered with several licensed games providers which are long-known on the market. But one of the first projects we connected was FairPlay – an online casino released by Gamingtec. FairPlay is the first licensed crypto casino with the honesty control that offers its players deposits in cryptocurrencies – BTC, ETH and TPLAY token”.
How does this integration with the FairPlay casino work?
“TruePlay aims to facilitate faster payments with the TPLAY token. When a new player registers in FairPlay casino, we automatically create a TruePlay wallet. It also gives players access to their real-time statistics allowing fair play. Giving players full data access to all their games and also to operators data can help players make smarter and more conscious decisions concerning their style of play.
Interestingly, Makarchuk explains that TruePlay publishes a game’s result in HASH before the game begins, sealing the results in a tamper-proof manner, guaranteeing that results are formulated before the bets are placed on the table. As we all know, Blockchain allows faster and secure transactions. Traditionally, a withdrawal from an online casino may take several days, but blockchain technology incorporates smart contracts into its online transactions thus making everything superfast, Makarchuk claims.
I’ve heard of a few crypto casinos that have been released during the last year. Why do you claim that FairPlay stands out from the crowd?
“Using our technical solution, FairPlay is the first among gambling projects to offer a blockchain-based honesty control. With this feature being implemented, all bets and game outcomes are protected and hashed by the TruePlay smart contract. Real-time game stats are published in the blockchain, which does not allow game results to be influenced in any way. Thus, players can be sure that it is impossible to falsify the outcome”.
Do you predict TruePlay to have a lot of competitors in the field of gambling platforms?
“The online casino market has struggled with a bad reputation for a long time. Blockchain can help us regain trust. With its open source technology, it is possible to verify every transaction made and ensure players that no fraudulent activity can harm their games. The more companies support us in bringing transparency to online gambling, the better. So we will be delighted to see more partnerships join our way. For us, the most important thing is to develop technically strong and reliable solutions to offer affiliates and game providers trustworthy and fair business, as well as fair games for players.
To help online gambling evolve faster, Makarchuk explains that Trueplay are actively developing the affiliate program based on the blockchain technologies and smart contracts. Using the affiliate program TruePlay partners will make it impossible to manipulate the attracted players. All participants of the program will receive a fully automated mutual payment system. The operators won’t be able to affect the payments, change the balance or statistics of the players, he adds.
Last month, at SiGMA I had a chance to meet your team after winning the Best ICO award during Malta Gaming Awards. How do these competitions help you evolve the product?
“The award was a real inspiration to us. We are at a private sale stage, and yet we got recognized by the experts of the industry. It makes us believe that we are doing the right thing and should keep working even harder. Lots of new features are to be released soon. For instance, we are going to use TPLAY token to bring various gambling projects into a unified, blockchain-based ecosystem, with a deposit and withdrawal mechanism that could function across all the system, and where players authorize once and use their account to play on different casinos. Our goal is to use the full potential of blockchain technologies to make online gambling increasingly transparent and trustworthy. And events like SiGMA help us spread the word about the revolution in online gambling”.
According to the latest reports, by the end of 2023, the gambling market is expected to grow up to 525 trillion, while the share of online businesses can reach 82 trillion. Those numbers can increase even more if blockchain will add its value to the market by providing online games and casinos with a trustworthy platform where players can make safe bets and secure transactions. Incredible figures certainly and one waits to observe how this fast-changing landscape will eventually evolve.