Darin Oliver about The Good the Bad and the Ugly in Blockchain gambling
In 2017, at the height of the ICO craze we founded Blockdraw around a team with regulatory and cryptography experience with the mission to create Blockchain Gambling solutions that are secure, trustless and can be adapted by mainstream businesses. We started with a clean slate and ignored advice to satisfy ICO investor demands to we run entirely on insecure public blockchains. Instead we focused on creating trustless solutions that reputable businesses and regulators could actually accept, test and approve!
The result was Blockdraw.
There several quick points I will highlight:
1. Everyone rushed to market with very little industry knowledge and tried to build products they felt ICO investors, not real users would demand. Now these players are handicaped by poorly thought out solutions and huge potential regulatory headaches all of which ignored decades of learned industry experience and knowledge. Most of them now understand what we understood at the beginning, you need to build products that meet all the stakeholders demands. They are all moving in our direction out of the necessity of survival, but they lack our experience, knowledge and preserved reputation.
2. Blockchain gambling is a massively underserved business. An impressive dollar amount is wagered daily, it’s just hidden in plain sight by a lack of understanding of what gambling is; but as a former regulator it’s obvious. People are wagering billions on ICOs, contracts for differences are disguised as crypto exchanges and then there are games like dice and CryptoKitties.
It’s not a question of substance it a question of form!
3. Stable coins backed and used in popular blockchain projects are the future of tokens, not unimaginative utility tokens hawked for developing specific projects. These new fiat-based tokens will be more stable, and they bridge gaps to offer world Blockchain and cryptographic solutions to the public.
Blockdraw understands all these issues! And we know that soon mainstream businesses who are offered trustless scalable solutions will beat a path to our door.
Stay tuned, because very soon Blockdraw will be coming for your crypto!
As Darin has limited time for his presentation, please feel free to contact us with more questions and inquiries
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