Curaçao Gaming Commission Uses Blockchain to Monitor Online Casino Integrity
Curaçao eGaming Commission Announces Collaboration with Trueplay Blockchain Platform in order to create a program to control the activities of operatorsonline casino. The regulator claims that the innovation will create a transparent environment for all market participants.
The organization will offer owners of casinos with a Curacao license to use the Truesign module to authenticate all transactions conducted through user accounts. The system will ensure transparency and security of payments to players, while the personal data of customers will be protected by encryption.
Also, the players' bets and the results of drawings on slot machines and other gambling games will be recorded in the blockchain. Until now, the monitoring of the gaming process by the regulator was considered the most difficult task in the gambling industry.
“The blockchain module will expand monitoring capabilities, and the use of a decentralized system will not allow anyone to influence the results,” Curaçao eGaming and Trueplay said in a statement.
Trueplay CEO Alexei Mageramov said, that the online gambling industry is perceived by users as a risky environment with a large number of scammers. In his opinion, Truesign will help to overcome these stereotypes.
Using the platform, if used correctly, can become a kind of quality mark confirming the honesty of the casino. Now, similar guarantees for software are issued by technical laboratories eCOGRA and iTechLabs.
Curaçao is the first territory where licensing of online gambling was introduced. The island is under the jurisdiction of the Netherlands. Hundreds of online casinos have Curacao licenses. Among themCasino X,JoyCasino,Play Fortuna, Slot V,Frank,Rox and many others.