Ivan Montik, founder and head of the group of companies SoftSwiss (Austria), will speak at Bitcoin Conference Prague to be held on May 14, 2015 in Prague. At the conference, the speaker will deliver a report on “Bitcoin – the ideal solution for global online gaming.” During his speech, Ivan Montik will talk about the following:
• Interest in Bitcoin in the industry. Trends of the past year;
• Provably Fair in classic games: slots, tables, maps;
• Application of Bitcoin to protect game content;
• Perfect global purse for player.
To attract new customers and increase involvement of regular clients, modern casinos seek to use the latest technologies and trends in their work. Electronic currency Bitcoin is among the latest innovations.
Ivan Montik, founder of SoftSwiss Group, will tell how to use new payment method in gambling business, will report on its advantages and disadvantages.
Ivan Montik is founder and head of SoftSwiss Group. In 2010, the company launched its first product – a platform for online auctions Merkeleon, and in 2013 – solution for online casino launch Soft Swiss Casino. The products have been highly appreciated by users and experts in the field of gambling and opened excellent prospects for the development of the company in this direction. In the summer of 2013 the company launched unique solution for casinos using Bitcoin, and that propelled the company to the new level.
– Ivan, when and at what point did you view Bitcoin as promising area of your activities?
– We got interested in Bitcoin in 2012, when the system has already worked, but only real geeks (people excessively enthusiastic about high technology – note) knew about it. We liked the very idea although at that moment we did not really know much about the technology itself. What was especially disturbing for us is the idea of supporting system using computing power that was simply consuming electricity. A year later, we had no doubt that we need to create solution for online casino on Bitcoin platform. In April 2013, we made first steps in this direction, and in summer we launched first casino operator. It did not just accept Bitcoins as payment – the whole casino infrastructure was based on Bitcoin platform: payments, games, monitoring system, security system.
– Your company is engaged in launch and support of project in electronic commerce field and gambling in Internet. What are the main issues of concern elated to Bitcoin that you have to deal with?
– First of all we are concerned with safety issues. A very important point in working with Bitcoin is stranded payments. On the one hand, this is a very good for business. There is no such notion as chargeback. Chargeback is a very big problem for casino operators in Internet, and Bitcoin solves this problem. But on the other hand – stranded payments increase responsibility of software developer. If anyone will steal Bitcoins from the system, returning them or bringing legal proceedings against infringer is not possible, we will only know the address where Bitcoins transferred, and will be able to track the further flow of funds.
– What are the main advantages of casino that accepts Bitcoins?
– First of all, in terms of this questions lets mention two types of casino:
• first – those only accepting payments and making pay-outs in Bitcoins, but the game is for FIAT money;
• second – allowing to play for Bitcoins.
General advantages for both options:
• additional payment method;
• fee for transactions is lower, sometimes – ten times lower;
• new players who cannot pay and play for real money due to underdeveloped financial system in their country;
• additional PR (will be important for some more time);
• no chargebacks.
Additional advantages of second option:
• Instant payments.
• Absense of any payment providers and banks, as a result – operator receives his funds instantly and controls his money.
• Technology “Provably fair”, which, in my opinion, will be the basis of all online casinos in the near future. This is not just an ideal opportunity for fair play and providing each player with opportunity to check any random number it gives, but no necessity for certification and inspection agencies and even licensing authorities in verification of software and casino fairness.
• High Rollers (gamers playing for big and very big sums of money).
– What are the arguments against Bitcoin use? Are there real obstacles for such operation?
– The only argument is infringement of safety rules. You must remember that this is you but not bank that is responsible for your money.
– So what are the rules for Bitcoin casino creation? For example, can I launch gambling website in a week?
– Yes, it is possible. Technically, if client does not want customized design and is ready to launch casino using a pattern, that you can activate settings and launch website virtually in one day. Our best result is 10 days for casino with individual design.
Organizer of Bitcoin Conference Prague Smile Expo is working hard to make another professional conference dedicated to cryptocurrency even better. In addition to beautiful venue, conference attendees will enjoy the most interesting speakers with unique experience; the list of speakers will be replenished. Follow the news!
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