As TechAnnouncer starts to explore the opportunities around Blockchain Technology or what is now becoming “Distributed Ledger Technology” we recently interviewed VDICE which comes to follow with some larger questions around Gambling, Gambling is heavily regulated and now comes the real question, what can regulators do to Gambling on the Blockchain? who can they approach? most of all who will be the biggest losers? well the biggest losers in the gambling industry will be the high risk payment processors and other 3rd party service providers.
Q: What can you tell us about your currency?
vSlice (VSL) is not really a “currency”. It is a token that is tied to the vDice platform.
It is the means by which anyone can share directly in the success of vDice games. That includes current and all future games.
Q: What type of services exist or can we expect in the future?”
vDice is a decentralized betting platform, based on Blockchain technology. Users can expect a variety of quality, decentralized betting games. The Ethereum (ETH) blockchain will always be the database processing the bets. No centralized databases. Full transparency.
Q: Are you targeting the consumer or Business Market? If so, how does the business model work?”
We are targeting the consumer market at the moment. Third party developers can write Ethereum decentralized applications (so-called ‘Dapps). If they’re good, and secure, we will feature them on the vDice web presence. Then anyone can play. The games will always exist on the Ethereum p2p network. So they are not on a server or anything. You just need to know the ETH address and have an internet connection. Then you can play. Everything is automatic.
Q: What are the details around the most important project you’re working on currently?
Right now our most important focus is mobile integration. Mobile is huge in Asia and emerging markets. So we need to be on mobile. And it needs to be a great experience. The technology for Ethereum applications on mobile is new. But we are at the forefront of that. And we are working with the best, everyday, to penetrate this important market.
Q: How does the competition compare?
Narrowly we compete with other decentralized betting games. The competition is limited. The technology is so new. What is out there is very early stage stuff. It’s raw and rough around the edges, but it works. More broadly we compete with centralized, online, betting games. Centralized services have a head start and benefit from the speed of processing transactions on a centralized database. It’s a trade-off.
Q: The market has many players, what differentiates you?”
We are decentralized and implemented using Ethereum. So the transparent blockchain is processing the bets. Also, as this is ‘on-blockchain’ betting, you keep your funds. You don’t have to hand over custody to anyone. You play against the smart contract, directly from your own wallet. You have full control of your funds always. This is something central services can never offer.
Q: could you tell us more about your achievements in this?”
We are one of the leading applications for decentralized betting. We have already built the best, most commercially viable application using Ethereum and blockchain technology. It works and is live today.
Q: could you tell us more about where you see Blockchain technology in the future?”
To quote JP Morgan heavy weight, Blythe Masters; “You should be taking this technology as seriously as you should have been taking the development of the Internet in the early 1990s.” Now with leading international companies rushing to implement Ethereum, it’s quite clear that Ethereum’s blockchain will be so very important. So we see Ethereum and blockchain underpinning the entire financial and commercial infrastructure of the world in ways that cannot even be fathomed at the moment. This is coming much sooner than people expect.