CasinoCoin, found online at CasinoCoin.org, aims to be the ideal peer-to-peer cryptocurrency for a better, more regulated online gambling industry. Here’s our review.
What Is CasinoCoin?
CasinoCoin is an open source, peer-to-peer cryptocurrency built to be the preferred digital token for the regulated online gambling industry.
The coin comes with a digital wallet, a transparent blockchain, and the enhanced security associated with most cryptocurrencies.
The CasinoCoin project has been in development for some time (it was launched all the way back in 2013). However, it was taken over in mid-2017 by a new team of developers. That team is in the process of adding new features to the platform. They want to embrace the benefits of cryptocurrency and blockchain technology while implementing features like KYC/AML, allowing regulators to do their jobs.
The end result is that gamblers can participate in a more secure, more regulated gambling industry while still enjoying the benefits of a decentralized, transparent blockchain-based currency.
How Does CasinoCoin Work?
The idea for CasinoCoin first emerged after the online gambling industry’s infamous “Black Friday”, which took place on April 15, 2011. After this date, online casinos were effectively shut down across the United States. Online gambling platforms were forced to register with small island nations or Central American countries, and gamblers were forced to play on unregulated gambling platforms with limited transparency.
CasinoCoin was designed to solve that problem. Originally released in 2013, the currency is designed to be easily transferable between games, exchanges, and gamblers. The tokens were originally described as “universal casino chips.”
Ultimately, the original casino coin was an ambitious project that never really got off the ground. In spring of 2017, a group of developers and gambling industry professionals acquired Casino Coin (CSC). That group was called the Double C Foundation.
Later in the year, the group released the CasinoCoin Wallet for Android, which offered basic functionality for holding, transferring, and spending Casino Coin (CSC) tokens.
The CasinoCoin project also made headlines this past week after they launched a foundation in the Isle of Man. It appears that the Double C Foundation is now an official Isle of Man-registered foundation.
Planned Features For CasinoCoin
Obviously, CasinoCoin is still in active development by the new team, and there’s limited information available online at this time. Here’s how the company explains some of the planned features in a recent press release:
“The currency, which puts operators and regular customers front-of-mind with its approach, aims to lead the industry in setting high best-use practice standards. It is currently developing features and new technology that will include built-in KYC, AML and responsible gaming features.”
Ultimately, the overall goal is to create a digital token that provides cryptocurrency-like benefits to gamblers while still allowing regulators to have control over the industry.
Who’s Behind CasinoCoin And The Double C Foundation?
CasinoCoin was acquired by the Double C Foundation in spring 2017. The Foundation’s team consists of former PokerStars Marketing Executive John Caldwell and ex-Senior Project Manager of Research & Development for Rational Group, Duncan Cameron.
You can contact the team using the online form at the official website.
CasinoCoin first launched in 2013, but remained largely unknown and under-used until the beginning of 2017, when the project was acquired by a new group of gambling industry professionals and marketing executives. Together, the team – under the name “Double C Foundation” – plans to make CasinoCoin the ideal digital token for a regulated gambling industry.
The digital token will provide all of the benefits of cryptocurrency – like high transparency, strong security, and easy transferability – while still allowing regulators to do their jobs – including with KYC/AML requirements and other regulatory platforms in place.
You can learn more about CasinoCoin by visiting the platform online today at CasinoCoin.org.