Last Saturday our TruePlay team made headlines at one of the world’s biggest crypto forums, UK’s Crypto Investor Show, by demonstrating an entirely novel and effective approach to transparency, fairness, and user experience in online gambling.
“TruePlay is created with the aim to solve numerous technical and most importantly, ethical issues in the online gambling industry,” says Oleksiy Mageramov, CEO of Trueplay.io.
An established and well-respected member of the gambling community, Oleksiy sees blockchain as a gamechanger for the industry that he’s long been part of.
“What we envisioned was a uniquely transparent platform that any gambling project would be able to implement. TruePlay offers a number of a unique solutions that have the potential to revolutionize gambling platforms and allow players to have a fair gaming experience that was previously unheard of in the industry,” says Stanislav Makarchuk — a 15 year veteran of the online gambling industry. Trueplay, where he serves as the CTO, is his first venture into blockchain technology.
Trueplay allows faster-than-ever transaction times between the player and the gambling project, ensuring quick, transparent payouts, with no expectation period.
Financial security is of the utmost importance for any gambling platform. Before TruePlay, gambling projects had no ability to guarantee payout, as their ledger would remain centralized and inaccessible to players. Sometimes, players would make bets, but a gambling project wouldn’t have enough funds to cover them in case of a win. The TruePlay platform enables a decentralized ledger that is accessible to all players, and therefore serves as a guarantee that a gambling project has enough funds to cover all bets.
For players, it was often difficult to make large deposits for high bets, and they had no possibility of a simple, easy withdrawal of funds. Trust was also an enormous issue in online gambling, as platforms would often implement algorithms that would deal out wins and losses based on the amount of money the player has bet, and thus rendering the game unfair.
TruePlay improves transaction time greatly, since it allows for lightning-fast token payments. It solves the problem of insufficient funds by providing a full statistic from across all operators, ensuring they have enough funds for a payout. Most importantly, it publishes the HASH of a game’s result to blockchain before the game commences, thus sealing the results in a tamper-proof manner. TruePlay guarantees that a game’s results are decentralized and formulated before the bets are placed, and in such it creates a guaranteed fair game, unaffected by the amount and quality of bets, an industry-first.
For affiliates, the operator would often be a “black box” — there would be no way to control affiliate rewards, leading to frustration and mistrust, and not to mention, pay delays. Trueplay takes care of that, its transparency is rooted in blockchain, and it has implemented smart contracts as means to guarantee reward payments.
TruePlay is issuing WinCoin (WNC), a utility token based that provides access to gambling platforms. WNC allows for an unprecedented level of transparency in gambling by eliminating the game’s susceptibility to manipulation from operators and ensuring the public’s trust.
The WinCoin token:
PRE-SALE: April 15 — April 30
TOKEN SALE: TBA