The team behind TruePlay — an innovative blockchain-based platform for gambling sites, is going to present its project at BlockchainUA tomorrow.
“TruePlay demonstrates an entirely novel and effective approach to transparency, fairness, and user experience in online gambling” says Alex Momot, CEO of Remme.io and one of the top crypto experts in Eastern Europe, who recently became an advisor at TruePlay.io and is expected to present the project at BlockchainUA.
A Board Member of the Bitcoin Foundation Ukraine for the last three years, Mr. Momot has been in the Bitcoin mining business since 2015. With over ten years of IT-experience, Mr. Momot has been working in the blockchain industry since 2013. In 2014 Alex ran BitX, a start up that allowed people to pay for telecom and other everyday usage services in bitcoins. Besides serving as the CEO of Remme.io, he is the BDM of Hotmine.io — a popular mining hardware store that’s focused on utilizing the thermal energy produced by mining to heat office and living spaces.
TruePlay is designed with the purpose to rid the online gambling market of a number of technical and ethical issues it currently faces. It was first developed in 2017 by Oleksiy Mageramov, Stanislav Makarchuk and Oleksii Ragozin. As longtime veterans of the online gambling industry, they sought to create a truly transparent platform that any gambling project would be able to implement.
“We envisioned a radically transparent, yet fully functional platform that any gambling project would be able to implement. TruePlay offers a number of unique solutions that have the potential to revolutionize the gambling industry by allowing players to have a fair gaming experience — something 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.
Since TruePlay allows for lightning-fast token payments, faster-than-ever transaction times between the player and the gambling project are going to become the new standard, ensuring quick, transparent payouts, with no waiting period.
Before TruePlay, gambling projects had no ability to guarantee payout, as their ledger would remain centralized and inaccessible to players. 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.
TruePlay publishes the HASH of a game’s result to blockchain before the game commences, thus sealing the results in a tamper-proof manner, guaranteeing that a game’s results are decentralized and formulated before the bets are placed, thus creating a fair game, unaffected by the amount and quality of bets, an industry-first.
TruePlay is issuing TruePlay (TRUE) — a utility token that provides access to gambling platforms. TRUE 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.