ICO Spotlight: Interview with Dmitry Danilov, CEO of Truegame
Coinschedule: Hi, Let’s put simple things first — What made you come up with an idea of using Blockchain for the Gambling industry?
Dmitry Danilov: There has always been a serious issue of trust in the gambling industry. It was not just about the players trusting each other, but also the trust players has to put in casino managers. Players couldn’t verify the integrity of a game or a lottery and couldn’t be sure in the honesty of the organizers.
Fortunately, modern technologies successfully fix this problem. Blockchain and smart contracts help to make games of chance absolutely transparent for the players. A smart contract is a special open source program that automatically distributes the winnings to a special open registry which, can be easily verified by any person. As soon as the program determines the winner it immediately sends the prize. Players can be sure of transparency, and the winnings depend only on fortune and mathematical probability.
Truegame was a pioneer that integrated these technologies into the sphere of iGaming. We have developed this solution by combining iGaming philosophy and the possibilities presented by blockchain technology. One can play scratchcards, lotteries, dice and other games of chance which all are smart contract based. The platform development was started in the year 2016, and now users are already playing more than a dozen games.
Coinschedule: Our readers will be delighted if you tell us briefly about how the platform works and what algorithm does it use?
Dmitry Danilov: We use a pRNG algorithm. For all the games and draws, our internal utility token is used, through which all the interaction with the player’s personal balance is conducted. Each game is based on a separate smart contract, and the code for each of them is available on Github.
The winning is accumulated and stored on a separate Ethereum account managed by smart contracts. In the case of a winning, its equivalent is automatically transferred to the player’s balance and becomes available for the withdrawal.
Coinschedule: How many games have your team developed so far? How was the traction on them?
Dmitry Danilov: The platform development was started in the year 2016, and now users are already playing it more than a dozen games. Among them are prize drawings, gift boxes, dice, scratchcards, lotteries and others, the collection of which is constantly expanded. Players show a lot of interest to the games and we got lots of very good feedback immediately upon appearing on Bitcointalk.
Our main feature is that we have a strong development department that managed to design and develop more than a dozen games in a relatively short time. According to our project’s Roadmap, by the end of 2018 Truegame plans to release more than 30 new games.
Coinschedule: Have you obtained a gambling license already?
Dmitry Danilov: We are currently undergoing a process of obtaining gambling licenses of two different jurisdictions. In those processes, we are supported by experienced lawyers with significant expertise in gambling.
Coinschedule: Are there any direct competitors working on Blockchain technology for Gambling? If yes, how do you think Truegame is different?
Dmitry Danilov: To a greater extent, we see that our competitors are the projects from traditional online gambling. These are large iGaming portals like Lottoland, which lack transparency.
In comparison to our competitors Truegame has the following advantages:
– A full smart contract transparency
– All available methods of balance deposit
– Commissions are low and included into house edge
– Jackpot provision and winning payment are guaranteed by smart contract
– Payment speed is immediate
Coinschedule: What makes you stand out from the other online casinos?
Dmitry Danilov: I would say, unique content is one of the key factors of the success, as most casinos work on third-party “White Label” solutions which look almost identical, except for the colors. We at Truegame, develop our own architecture, unique content, and design, and made it adaptable for most mobile devices. The project does not use other people’s “White Label” solutions, instead, we created our own strong development department.
Another competitive advantage is that the platform is fully integrated, meaning its unique architecture allows to quickly implement any game based on a smart contract, to quickly add new payment systems, integrate third-party services and even to provide “White Label” iGaming solutions to other market participants.
Plus, Truegame is the first project that went beyond the players of the crypto industry and is oriented on a huge audience of classical gambling and lottery players. We will be the first blockchain project to accept fiat. Also, we have a strong development department that managed to design and develop more than a dozen of games.
Coinschedule: We’re also eager to know if you’re planning to do any exciting partnership in the near future.
Dmitry Danilov: We are currently establishing several strategic partnerships with some big players in gaming development and RNG certification. We will be publicly announcing about it in the near future.
Coinschedule: We’re sure the team behind this idea is exceptional. Will you run us through their credentials briefly?
Dmitry Danilov: Our team is truly brilliant and this is what we are very proud of! It consists of top experts in the industry. For instance, in the sphere of gambling – the total common experience of the team is more than 50 years. As for smart contracts development – a whole department is with proven competencies and is guided by our strategic blockchain advisor Bogdan Fiedur. The legal side is covered by experts with huge legal practice in blockchain and ICO.
That’s great! We are confident that the project will be a huge success. Wish you and your team all the best from Coinschedule.