Recently, Curacao eGaming – a renowned online gaming licensing authority – and TruePlay blockchain platform announced their upcoming strategic partnership plans. This union will ensure transparency and mutually beneficial collaboration between members in the gambling world. Curacao is focused on not only working with TruePlay but also to make available the Truesign module of TruePlay. Online casinos that will adopt this blockchain solution will always have provably fair results. The Truesign module ensures that all transactions are completed within TruePlay and encrypted using a private key. As such, the validity of all transaction information, bets, deposits, and withdrawals are guaranteed.
About TruePlay Company
TruePlay is a state of the art B2B platform equipped with sophisticated software solutions in the iGaming world. This blockchain-based platform is neither a software provider nor a casino operator. TruePlay is designed to enable licensed casinos to access their software in a legal and transparent way. TruePlay has a wallet that is used to keep tokens for all registered members. Users get access to all projects linked to the TruePlay platform once they have registered with the TruePlay wallet. Thanks to the honesty control system, casino operators cannot alter or rig the outcome of the game. The platform ensures full transparency of funds, and the only place fraud can occur is at the operator’s end. As mentioned earlier, TruePlay benefits various areas of the gambling sector in different ways.
- Access to instant transactions and payments to TPlay;
- Enjoy fair play and statistics to block-chain games.
For Casino Operators:
- Ends fraud activities;
- Easy to launch the WhiteLabel;
- Gets financial guarantees from TruePlay.
- Total transparency on all TruePlay projects.
For Software Providers:
- Allows licensed content bounty program only.
TruePlay platform uses different strategies to ensure that their presence in the gaming and gambling world is felt. Customers have a possibility to observe it at new Curaçao online casinos for gambling all around the world. Currently, 85 countries have registered, 49 bn dollars made from revenue in 2017, and is expected to increase to 82 billion dollars in revenue by 2022. The reason for their widespread is because of the partnership with well-established providers in the market like Gamingtec, NetEnt, Microgaming, Pokerdom, and Spinomenal.
Avoiding Fraud Cases with Blockchain Technology
Fraud cases are the most common in the gambling world. As such, various security measures have been invented to curb this problem. The use of Blockchain is the best-emerging ways used by banks, operators, and other business enterprises to end any illegal activities involving money. Blockchain has proven to be a secure, tamper-proof way of keeping records. TruePlay is complex software that enhances transparency must integrate blockchain with the help of Curacao eGaming to guarantee safety. But how does this modern technology provide a solution to fraud? Generally, ‘block’ comes with a unique set of records related to the previous and has a unique digital signature.
Prevent Identity Fraud and Data Abuse
Identity theft and data loss will continue to be a nightmare both for operators and consumers in the gambling industry. Many people don’t trust the traditional technologies used in financial institutions around the world. With blockchain technology, consumers have the power to make their own decisions regarding their data privacy.
The use of centralized databases is one reason why many hacks have been successful in the past. TruePlay is a blockchain platform that aims to widely improve data security using decentralized databases. Usually, the use of data is not stored on the central server.
The step taken by Curacao eGaming and TruePlay is going to bring a solution to one of the biggest nightmares in the gambling industry. It will benefit different sectors of the casino industry, including operators, providers, affiliates as well as players. We hope that all the right measures will be undertaken to ensure that the partnership succeeds.