CasinoCoin is an open, peer-to-peer cryptocurrency created as the preferred digital token for the regulated online gambling industry.
The coin comes with a digital wallet, a transparent blockchain and enhanced security associated with most cryptocurrencies.
The CasinoCoin project has been under development for some time (it was fully launched in 2013). However, in mid-2017, a new development team was adopted. This team is in the process of adding new features to the platform. They want to take advantage of encryption technology and blockchain in the implementation of functions such as KYC / AML, allowing regulators to do their job.
The end result is that players can participate in a safer, more regulated gambling industry, while still enjoying the benefits of a decentralized, transparent blockchain-based currency.
The idea of CasinoCoin
The idea of CasinoCoin first came about after the infamous Black Friday online gambling industry, which took place on April 15, 2011. After this date, online casinos were virtually closed throughout the United States. Online gambling platforms were forced to register in small island countries or Central American countries, and players were forced to play on unregulated gaming platforms with limited transparency.
CasinoCoin was designed to solve this problem. Originally released in 2013, the currency is designed to be easily transferred between games, exchanges, and players. Tokens were originally described as ‘universal casino chips.’
Ultimately, the original casino coin was an ambitious project. In the spring of 2017, a group of developers and game industry professionals acquired Casino Coin (CSC). This group was called the Double C Foundation.
Later that year, the group released CasinoCoin Wallet for Android, which offered basic features for storing, transferring and tracing Coin Casino Tokens (CSC).
The CasinoCoin project is also after they founded a fund on the Isle of Man. It seems that the Double C Foundation is now the official founder of the Isle of Man.
CasinoCoin Planned Features
Obviously, CasinoCoin is still being actively developed by the new team, and limited information is currently available on the Internet. Here’s how the company explains some of the planned features in a recent press release:
“The currency that puts operators and regular customers in the light of their approach is aimed at leading the industry in setting high standards of best practice. He is currently developing features and new technologies that will include KYC, AML, and responsible gaming features. ”
Ultimately, the overall goal is to create a digital token that provides players with cryptocurrency benefits, but allows regulators to control the situation in the industry.
Prospects for cryptocurrency CasinoCoin
The sphere of online gambling is very unpredictable and self-sufficient, therefore, to integrate CasinoCoin with top gaming establishments, the project team will need to work hard. It is worth noting that by 2020, the value of the online gambling industry will be estimated at 54 billion euros. This indicates a good field for the activities of completely new projects, but at the same time, this field will be very difficult.
We will refrain from making predictions regarding CasinoCoin.
CasinoCoin was first launched in 2013, but remained largely unknown and unused until the beginning of 2017, when the project was acquired by a new group of gambling professionals and marketing managers. Together, the team, called the Double C Foundation, plans to make CasinoCoin an ideal digital token for the regulated gaming industry.
A digital token will provide all the advantages of cryptocurrency – such as high transparency, reliable security and ease of carrying, while at the same time allowing “regulators” to carry out their work, including with the requirements of KYC / AML and other regulatory platforms.