In this interview with CalvinAyre.com’s Becky Liggero, Jez San of FunFair explains how blockchain technology may be used to simplify online gaming setups and help reduce operators’ costs.
Blockchain has revolutionized the world’s financial system. Transferring funds from one person to another has never been easier because of its peer-to-peer feature. Most importantly, blockchain ensures transparency because every transaction is written on the so-called digital ledger.
But in a short period of time, blockchain technology has started to the shape the gambling industry as developers think of ways to attract players and earn their trust.
FunFair founder Jez San pointed out that online gambling developers are beginning to see the potential of blockchain in building their online gambling product or what he calls cryptogame. He said that operators may be able to reduce costs and simplify setups with the use of blockchain technology.
“I think blockchain technology increases transparency. I think we will see everyone taking advantage of that,” San told CalvinAyre.com. “I think we will see payment processors bridging the gap between the blockchain world and the credit card world. So, I think you won’t have to choose to play a cryptogame. You can still play with your normal credit card and you’ll get all the benefits of being a blockchain game.”
He said their company developed an Ethereum-based technology platform that ensures transparency and player protection, making it the first global gaming brand to harness the blockchain.
The product idea, according to San, came to him 12 years ago. He said that he has always dreamt of creating peer-to-peer gaming technology.
Of course, many people tried to dissuade San and told the FunFair founder to “do what everybody else is doing, but do it better.”
He said that he knew that the industry needs a product that will convince players that the game cannot be cheated by anyone. In the past, San recalled people saying “no, I don’t trust online games” even if these offerings are more trustworthy.
The problem, according to San, lies on the perception of lack of trust.
“So we think we can help that perception by building technology that cannot cheat anyone,” he explained. “Because the blockchain provides our game servers. We don’t have game servers. There’s no infrastructure. There’s no thousands of servers on an island somewhere. The cost of deployment of the games is almost zero.”
He is convinced that blockchain technology will revolutionize online gaming worldwide in the future.
“What casino operator wouldn’t want to operate games that have almost has no cost to them? And then they can pass that on to players,” San pointed out. “So the players can have more bonuses, more wins. Or they can spend more money on marketing to reach those players. Not only that the games are fair, but they have lower costs than other online game.”