One of the engineers involved in creating the classic Nintendo Star Fox game, developer of one of the first 3D graphics chips for games and business angel Jez Sun is launching a blockchain platform called Funfair for online casinos. He says he was able to raise $200,000 “from the public” for the idea.
The project aims to put gambling on a blockchain platform, solving one of the main, according to the author of the idea, problems of online casinos – user distrust.
He cites the example of a story where online casino employees used admin rights to view players’ cards and then give advice to other players with whom they were colluding. Blockchain, where every transaction is transparent, could be an antidote to this kind of thing: “It would be fair game – it’s not able to cheat.”
Why are casinos themselves in no hurry to use this technique? One way or another, any casino is built on the principles of “distorting” revenue for the benefit of the establishment. However, the attractiveness of fair play for customers will only benefit the establishment, Jez Sun believes. In addition, blockchain will reduce the cost of doing business for casinos: there will be no need to invest in the hardware and employees who maintain it.
How will the regulators react to Funfair? According to the developer, the technology should appeal to those of them who are interested in fair play: blockchain “will give regulators the transparency they never had.” “Some people won’t like it,” he admits. – These are new technologies that are completely different from what they’re familiar with. Casinos have servers that can be accessed by regulators, and there are no servers here.”
Regulators may suddenly find that there’s nothing else to regulate – unless they go after individual players or the technology itself. Credit cards are easy to track, but if players start using cryptocurrencies, regulators and law enforcement can express displeasure pretty quickly.
What’s it like from a consumer perspective? “It’s going to be a browser-based game, with no installation or download, even on cell phones and tablets,” Sun explains. – “Operators can use viral means to distribute: you can send a link, click on it, and you’re in the game.