CasinoCoin, and Why I Invested
I am fairly new to the Crypto World, and I am sure my story is like many others. I was introduced through my Brother in-law, who invested 5 dollars, and turned it into 70. I had heard of people making a fortune on this kind of investment before, so I decided to learn and invest myself. I bought a slew of coins, just hoping to hit something big. Needless to say, I bought the top (2017), and sold the bottom (2018). Disgruntled and discouraged, I put this new and volatile investment into the back of my mind. A year later, Bitcoin seemed to be booming again. I began to research, this time looking for investments that had a clear path to adoption. That is when I fell in love with XRP, but only for a short moment. I had been invested for a few months before i stumbled upon what is CasinoCoin.
What is CasinoCoin? CasinoCoin, a fork of XRP, is an open source, peer to peer, cryptocurrency specifically designed for the regulated and online gambling industry. They plan to revolutionize the regulated gambling industry through the best blockchain technology. As you can see, CasinoCoin benefits from the speed of XRP, while also maintaining their own ledger.
The first thing that jumped out to me was when I learned the foundation is a non-profit organization and did not do an ICO (Initial Coin Offering) What I like about their approach is they aren't starting up a new industry, hoping others take notice to get adopted. John Caldwell, the Director of Advocacy said, “The only sustainable way forward for cryptocurrency in the gambling world is to work with regulators and operators from day one and focus on regulated markets. Our aim with CasinoCoin is to provide a currency, and related technical tools, designed and accessible for operators and ordinary players in the regulated gambling industry. We believe the Foundation will play an integral part in driving the coin’s future success.” They are helping existing regulated land-based and online casinos (a $600 Billion industry) become more efficient and data driven. This is lead by an amazing team of C-Level Executives with deep connections throughout the gambling world, most notably from Pokerstars, IGT, Gamesys, DraftKings, Microgaming, and most recently Cammegh Roulette and Aruze Gaming. (https://casinocoin.org/team/) (https://casinocoin.org/board-of-advisors/) (https://casinocoin.org/board-of-trustees/)
What is their product? CasinoCoin’s flagship product, the Bankroll Manager, features built-in KYC and AML capabilities, and provides onboarded users with direct access to some of the world’s top regulated gaming sites, and the opportunity to deposit, bet and withdraw in CSC. This is significant if you have ever tried to deposit and withdraw from online casinos before. Instead of taking days with large fees, it takes seconds costing only a fraction of a penny. You also only have to sign up once for all participating sites. This is possible through their partnership with Jumio, the leading company for verification purposes. It will be as easy as: log onto the site, deposit, play, withdraw, and only taking seconds instead of hours or days. There is also built in benefits for the operators and regulators as well.
Operators benefit just as much as the customers with reduced fees.
The next product they offer are Custom Tokens on top of the CSCL (CasinoCoinLedger). This allows other companies to utilize the tech of CasinoCoin while also keeping their own brand name and unique use. Each token will have to use CSC as a "gas", and every transaction will cost .25 CSC, but is subject to change. This is essentially like Ethereum, but with much more scalability and speed designed to handle the immense amount of transactions for the gambling world. These tokens create a vast opportunity to bring in other companies who innitally wouldn't have used the BRM or CSC as a direct currency. Two notable token partners as of today (11/1/2019) are Cammegh, the worlds finest roulette manufacturer in the world, who is utilitzing CSC tech to track every single spin of their roulette wheels for an immutable data record http://www.cammegh.com/ and Egamingfund, a Freemium, Egaming, and Gambling platform all wrapped into one, who chose CSC over ETH and EOS. https://egamingfund.org/ Tokens create a great opportunity for unique and specific use-cases to evolve.
There are many reasons why I think this is one of the better investments you could make in blockchain. The tech is the best, the team and connections they have is the best in the industry (by far), and the CasinoCoin Foundation has taken a "No hype" approach. They will not share news or give updates until the partners have a signed contract. They are focusing on product and utility first, which is why I am all in with this project. They aren't worried about speculation, pump and dumps, or anything in the market to fatten their wallets. Most of the team have been essentially working for free for the better part of 2 years. That is dedication. They are solely focused on bringing a revolutionary product to a huge market. Honestly, it has been really refreshing in this strange Cryptoverse we have all come to know. They handle themselves like an actual business. This is why I firmly believe CSC, and the Foundation, will change the gambling world forever.
This is a brief overview, as I was just hoping to write a small summary. There were some aspects I overlooked, so if you're interested, you can keep digging.
You can find all of this information, and more, at their official website: https://casinocoin.org/
Or through their Presentation: https://casinocoin.org/doc/CasinoCoin_Presentation_en.pdf