Connect with us

Bitcoin

Exclusive Interview with Matthew Stafford, CEO at BlockChain Innovations Corp

Niji Ng

Published

on

Reading Time: 4 minutes

It is my great pleasure to bring to you my latest interview. This week we once again focus on the role of blockchain in the gambling industry as it still is a trending topic. And what better way to get a glimpse into the vertical, then asking the experts of the industry. Matthew Stafford has been appointed as CEO of BlockChain Innovations Corp. this April and he has since than given speech at many industry events. It is high time we got the chance to pick his brain in our unique style. See below our interview with Matthew.

Let’s start with a few words about yourself. Our readers love to hear top-class professionals describing themselves.

Matthew: Thank you for a very kind introduction. I’ve spent 10 years in regulated gaming and public markets as an attorney, most recently with Scientific Games and NYX Gaming Group where I helped take that company public in Toronto in 2014 through its acquisition of Openbet Technologies Limited; the world’s largest sportsbook platform provider in 2016. I’ve had the opportunity to work with hundreds of gaming clients both brick-and-mortar and in the digital space, as well as payment providers, data and compliance vendors and the multitude of gaming software platforms around the world.

You took over as CEO of Blockchain Innovations Corp (BCI) about four months back. What are your early reflections on the job?

Matthew: It’s a very exciting and busy time. We are bringing a disruptive technology to two markets – both the commercial gaming industry for operators and the public market in Toronto for investors.

There is a lot of interest in both sectors around the technology and what it can do. In the capital markets, it’s about building blockchain companies as a value-added segment that gives depth to cryptocurrencies beyond price speculation and mining. For the gaming industry, it’s about building a modern gaming and payment platform that is compatible with conventional technologies so that our operator clients can offer blockchain wagering now and be poised for the future.

You studied law and started your career as a legal intern. How does your legal background help in your functioning as the CEO of BCI, especially as cryptocurrencies and other blockchain financial solutions are still viewed with suspicion by the regulators in several countries. 

Matthew: I was fortunate enough to work in gaming – at leading slot manufacturer Aruze Gaming America, Inc. – before graduating law school. As the Assistant General Counsel there, I obtained over 150 gaming licenses for the company worldwide and won approval for hundreds of devices. I also oversaw regulatory compliance at NYX and that foundation provided me with the ability to navigate complex regulatory issues, just like the treatment of crypto and blockchain with regulators. A working partnership and understanding of the regulatory schemes behind those agencies is crucial in terms of finding a viable solution for the industry in any circumstance.

What is important to note regarding uncertainties around crypto and blockchain is that, although perhaps skeptical, regulators are addressing the issue. There is positive movement towards adoption; the regulation/licensing frameworks that are being considered are being conducted by many jurisdictions and the outcome is to find that balance of providing the industry with competitive technology while meeting the regulatory objectives within a particular jurisdiction.

Can you tell us more about BCI’s soon to launch cryptocurrency wallet, Pebwallet, and its PebbleShare tipbot?

Matthew: Pebwallet.com is our fully-functional cryptocurrency wallet for users to manage and exchange multiple cryptocurrencies for smart-contract coins. They can also buy, sell, and exchange wagers via our PebbleShare tipbot. The wallet communicates to any existing operator’s PAM via an API and, in addition to standard transaction accounting and reporting, operators may permit wagering between players using pay-as you-go cryptocurrency where no money is on deposit as well as players with fiat currency on deposit, in their existing operator account.

Once activated, users with popular cryptocurrencies such as Bitcoin and Ethereum may then exchange those coins for PebbleCoin and begin placing smart-contract wagers. PebbleCoin, the gaming-by-design crypto-currency BCI’s technology utilizes, is one of the first cryptocurrencies to use smart contracts and trade them as freely as coins.

BCI claims that its blockchain social betting solution has something unique and innovative that the competitors, especially Bitcoin and Ethereum, do not have: basically, BCI’s solution does not have a lag in provable transaction confirmation. Could you explain about its practical real-time implications?

Matthew: BCI has provably instant confirmation of transactions, or bets integrated within its technology and our cryptocurrency PebbleCoin. The confirmation time for Bitcoin is 1 hour and Ethereum is 180 seconds. The implication of that 180 seconds to 1 hour is that live wagering environments are not possible with Bitcoin or Ethereum since there is an ability for one side to “roll-back” the transaction on the blockchain. If this were the case, users could cancel bets when the line prices move against their position – that’s not feasible in a betting market.

These are good times to be a betting solution provider in the USA, as the US supreme court has repealed PSPA, which would inevitably lead to the legalization of sports betting in many US states. How do you see the prospects for BCI?

Matthew: We see a lot of opportunity for operators to be “born on the blockchain”, that is to have a blockchain wagering offering for their players as their sole platform or a complementary offering to their player base. With the 6-3 United States Supreme Court decision striking down a 1992 law prohibiting such sports betting outside of Nevada, and the American Gaming Association estimating there is over $250 billion wagered annually in the US, it is a promising time for the sector.

Those figures mean that the demand for suppliers in the US will exceed the capabilities of conventional platform providers. We anticipate operators that want to be live when authorized by their state will look to blockchain as a modern technology that is able to offer a full solution for their sports wagering operations. Along those lines, because of the near-zero cost to operate our system, Tribes and state sports lotteries stand to gain the most from a blockchain solution since those savings go directly back to the taxpayer or tribal entities managing gaming operations for the tribe.

About BlockChain Innovations Corp.

Blockchain Innovations is headquartered in Las Vegas. The company designs and develops market ready blockchain technology for public and private real-money wagering and peer-to-peer gaming companies across the globe.

The company’s blockchain technology consists of a fully functional crypto-currency wallet, a tipbot – PebbleGo for easily sending and receiving smart contracts, and its smart contracts platform – the ideal wagering eco-system for instant confirmation, where contracts are tradeable, divisible, transferable and new wagering not available in traditional retail or online markets.

The company’s technology is built around PebbleCoin, a gambling-by-design cryptocurrency that has been mined since 2015. Pebblecoin’s unique features make it the only crypto-currency that can facilitate real-time wagering.

For more details visit www.blockchaininnovations.info

Niji has been in the writing industry for well over a decade or so. He prides himself as one of the few survivors left in the world who have actually mastered the impossible art of copy editing. Niji graduated in Physics and obtained his Master’s degree in Communication and Journalism. He has always interested in sports writing and travel writing. He has written for numerous websites and his in-depth analytical articles top sports magazines like Cricket Today and Sports Today. Besides reporting industry headlines from all around the globe, Niji is also head of the content management team at Impressions Content Management, based in Kerala, India, which offers writing and editing services to clients around the world.

Continue Reading
Advertisement
Comments

Bitcoin

Bitcoin Cash (BCH) now Tokenized

George Miller

Published

on

Bitcoin Cash (BCH) now Tokenized
Reading Time: 3 minutes

 

Project team win £5,000,000 contest from CoinGeek.com

 

CoinGeek can officially announce that the Bitcoin BCH blockchain now has a leading tokenization solution, and has a winner for its £5m contest (amounts payable in BCH, of course) for developing that solution. ‘Team Tokenized’, who successfully rose to the challenge are: James Belding, Samuel Georges, Scott Barr, Farid Uddeen, and Brendan Lee from Australia and Singapore.

It is now possible for anyone in the world to create and operate their own smart contract on the BCH blockchain network using customizable terms and conditions.

The Tokenized protocol means many assets can be tokenized on BCH, including:

  • financial assets (i.e preferred stock, fixed-rate bonds, floating-rate notes, futures, derivatives, currencies)
  • tickets (i.e for movies, events, air travel, transportation)
  • credit and point systems (i.e loyalty schemes)

Tokenization is unique in its focus on helping companies deal with real-world legal compliance issues. Global businesses have to abide by laws applicable to their jurisdictions. Investors and customers also want the protection of a legally compliant system. Tokenization provides the tools to enable not only governance features but also to carry out a variety of votes (i.e shareholder votes) all on the blockchain.

CoinGeek founder Calvin Ayre stated: “With BCH already able to massively scale, we have all been waiting for token solutions to ignite rapid growth in BCH usage. Now this is a reality CoinGeek and I are thrilled to honor ‘Team Tokenized’ as our contest winner, and support their on-going work to show the full power of BCH.”

The Tokenized system proves in several ways that the original “Satoshi Vision” of Bitcoin (BCH) works. It uses technical features already existing within the BCH protocol; i.e it does not require any new OP_codes or other protocol changes. It is an on-chain solution and does not create a separate token layer. Equally, ‘Tokenized’ does not require ‘burning’ BCH coins to create tokens which simply disturbs the Bitcoin system.

Jimmy Nguyen, CEO of nChain Group (CoinGeek’s technical partner on the tokenization contest), comments:

“We have always believed the original Bitcoin protocol contains everything needed for BCH to become the new money and enable advanced programmable functions. Our technical review team was impressed by how ‘Team Tokenized’ used foundational elements in Bitcoin to deliver a technically comprehensive system which works.”

CoinGeek founder Calvin Ayre further observed: “The original Satoshi protocol already has everything it needed to create a digital currency and also enable advanced functions. We just needed to restore it and then scale it. This achieved, I urge all Bitcoin miners to run the new Bitcoin SV implementation of BCH.”

James Belding, the protocol author for the Tokenized team, remarks:

“Our team is honoured to be selected as the CoinGeek contest winner because we all believe in Bitcoin BCH. The BCH network is now fully featured and is the only distributed ledger technology that can scale to serve every person on the planet. Our Tokenized system has been designed to harness the full properties of BCH’s native technology for smart contracts and tokens. I believe it is only a matter of time before nearly every asset is tokenized on the BCH network, and we have created our Tokenized solution to support the global scale and diversity of tokens that can done on BCH.”

The Tokenized white paper, protocol specification, and smart contract code will be released for public preview in mid-November. For more information, please visit https://tokenized.cash/.

To learn more about the Tokenized solution, come to the CoinGeek Week Conference in London on November 27-30. James Belding will be speaking about Tokenized, and the entire Tokenized team will be attending.

CoinGeek believes the BCH ecosystem can benefit from even more token solutions that advance the Satoshi Vision. Therefore, CoinGeek will keep its tokenization contest open with a secondary award of £1 million available.

Continue Reading

Bitcoin

Cloudbet celebrates 5 years as bitcoin gambling pioneer

George Miller

Published

on

Cloudbet celebrates 5 years as bitcoin gambling pioneer
Reading Time: 2 minutes

 

This week Cloudbet celebrates its fifth birthday, making it one of the world’s oldest and most established bitcoin sportsbook and casino operators. As crypto ages in the digital equivalent of dog years, turning five is a real landmark.

When Cloudbet launched, it had a simple mission: to offer the easiest way to bet with bitcoin (and later bitcoin cash) which continues to be its focus. It achieves this by leveraging the power of cryptocurrencies in an user-friendly bitcoin betting platform that meets the needs of the growing number of crypto gamblers, and addresses the shortcomings of fiat (traditional) bookmakers.

To celebrate the milestone, Cloudbet is giving away a big chunk of bitcoin for the best meme that encapsulates how crypto has changed in the last five years. All details of the competition are available on the Cloudbet Blog.

Cloudbet 5yrs

Mirio Mella, Cloudbet’s spokesperson, said, “Cloudbet turning five is a real landmark, and something we are super proud of. We acknowledge that we wouldn’t have made it this far without the early engagement of the bitcoin community which is why we’re giving something back. We’re looking forward to seeing what creative memes the community comes up with.”

“Cloudbet is just as excited about the next five years and how big crypto can grow.” he added.

Cloudbet has a history of giving their players big windfalls. One player won 160 BTC on a single spin in their bitcoin casino and they were the only sportsbook to honour the Bitcoin Cash fork by crediting all players with their corresponding funds after the split. New customers also qualify for a 5 BTC/BCH welcome bonus.

 

About Cloudbet:

Established in 2013, Cloudbet is the world’s leading bitcoin sportsbook and bitcoin casino platform, fully licensed and regulated with satisfied customers in over 100 countries.

Cloudbet offers exceptional value odds and unrivalled bitcoin betting limits, while new customers also receive a generous 100% deposit bonus up to 5BTC/BCH.

Continue Reading

Bitcoin

Online Casino Guide Adds New Bitcoin Casinos to its Roster

George Miller

Published

on

Online Casino Guide Adds New Bitcoin Casinos to its Roster
Reading Time: 2 minutes

 

Players looking for Bitcoin casinos to bet with will find a few new casinos added to the onlinecasino.info Bitcoin casino list. This new online casino guide has recently posted reviews of Betcoin Casino and mBit to their roster of approved BTC casinos. Onlinecasino.info also provides reviews of Bitstarz, CafeCasino, Cherry Jackpot and Drake Casino. They frequently add new casinos to their list so its worth bookmarking their guide to revisit it anytime you’re looking for a fair online casino to play at.

Bitcoin gambling sites have started to take off with players in the online gambling community. There is no shortage of gambling websites that accept Bitcoin deposits so players have a wide range of options on where they choose to bet. Online Casino Info makes it their mission to help gamblers find safe and licensed casinos for wagering Bitcoins. All of the BTC casino sites listed offer fair gaming software and professional customer support teams.

Casino players located in the United States are guided towards the top online casinos that accept USA players in the onlinecasino.info US casino guide. It provides a select group of the best casino sites that allow Americans to gamble with real money. Not all online casino websites will accept wagers from U.S. players and those that do should be approached with caution. Be sure that any USA-friendly casino is operating legally with a certified gaming license and regulated casino software.

The top online casino software providers are NetEnt, Microgaming, Rival, Bet Soft, Playtech, Realtime Gaming, Saucify, IGT, Amatic, bGaming, Belatra Games, Playson, Evolution Gaming, and iSoftBet to list a few of the most trusted casino software companies. Each one of these software providers offer virtual casino games that you can play for free or real money. By playing at online casinos powered by one of these trusted software platforms you’re in a good position to have a fair chance at winning because they have audited gaming software with truly random outcomes.

Onlinecasino.info updates their online casino reviews monthly and continues to add new casinos to their approved list on a regular basis.

 

Source: OnlineCasino.info

Continue Reading
Advertisement
NSoft
Advertisement
BetConstruct

Subscribe to our News via Email

Enter your email address to subscribe to our news and receive notifications of new posts by email.

Latest by author

Trending

We are constantly showing banners about important news regarding events and product launches. Please turn AdBlock off in order to see these areas.