Darin Oliver about The Good the Bad and the Ugly in Blockchain gambling

In 2017, at the height of the ICO craze the BlockDraw had been found. Their team consisted of regulatory and cryptography experts that united with the mission to create Blockchain Gambling solutions that are secure, trustless and adaptable by mainstream businesses. They started with a clean slate and ignored advice to satisfy ICO investor demands to run entirely on insecure (with no ability for service provider to control over the confidentiality of user information) public blockchains. Instead they focused on creating trustless solutions that reputable businesses and regulators could actually accept, test and approve!
The result was Blockdraw.
Several quick points to highlight:
1. Everyone rushed to market with very little industry knowledge and tried to build products they felt ICO investors, not real users would demand. Now these players are handicaped by poorly thought out solutions and huge potential regulatory headaches all of which ignored decades of learned industry experience and knowledge. Most of them now understand what they understood at the beginning, you need to build products that meet all the stakeholders demands. They are all moving in our direction out of the necessity of survival, but they lack our experience, knowledge and preserved reputation.
2. Blockchain gambling is a massively underserved business. An impressive dollar amount is wagered daily, it's just hidden in plain sight by a lack of understanding of what gambling is. Nevertheless, for Darin Oliver, CEO of BlockDraw and former regulator it's obvious. People are wagering billions on ICOs, contracts for differences are disguised as crypto exchanges and then there are games like dice and CryptoKitties.
It's not a question of substance it a question of form!
3. Stable coins backed and used in popular blockchain projects are the future of tokens, not unimaginative utility tokens hawked for developing specific projects. These new fiat-based tokens will be more stable, and they bridge gaps to offer world Blockchain and cryptographic solutions to the public.
Blockdraw understands all these issues! And everyone knows that soon mainstream businesses who are offered trustless scalable solutions will beat a path to BlockDraw`s door.

Stay tuned, because very soon Blockdraw may come for your crypto!

Transcript

1. D A R I N O L I V E R , B L O C K D R A W C A P I T A L L I M I T E D The Good the Bad and the Ugly in Blockchain gambling
2. Industry insiders who understand the needs of all stakeholders The Good
3. Stakeholders: Player needs range widely from an understandable UX, games with returns they enjoy, to the opportunity to participate or spectate on high stakes gambling. The Good
4. Stakeholders: Governments want audit trails for tax collection, AML/KYC, player protections (self exclusions, age verification, advertising controls), and probity diligence The Good
5. Stakeholders: Regulators want everything governments want combined with secure platforms that are both provably fair and random The Good
6. Stakeholders: Businesses must satisfy everything that Regulators and Governments want along with secure platforms that are scalable, fast and efficient enough to handle millions of transactions per day The Good
7. Other technologies: ▪ Decentralized DAAPs ▪ Cryptography: ▪ Private Blockchains on private servers, but secured with SHA-256 Hashes using public blockchains ▪ Peer to Peer cryptographically secure random results The Good
8. Some well meaning but inexperienced developers focused too much on specific technologies (running on the public blockchains) rather then marrying the best technologies for the best solutions; all of which resulted in the wrong sacrifices The Bad
9. Ideas that ignore decades of learned industry experience The Bad
10. Big ideas, but without understanding the needs of the industry Stakeholders = useless The Bad
11. Created tokens that distract from the end product and are not useful The Bad
12. Developed tokens around “protocols” that will be worthless in months or years The Bad
13. Results: early stage products that do not solve real problems; and worse, have tokens no one wants and real reputational damage, along with potential legal or regulatory challenges to abandon them. The Bad
14. Fraudulent or incompetent ICOs that promised big changes but have left a trail of unfinished and worthless tokens, products, or protocols The Ugly
15. Lasting industry damage that prevents real business from adopting blockchain solutions The Ugly
16. Brings the shadow of regulatory fixes, some of which may create unnecessary roadblocks for innovation The Ugly
17. We are industry insiders with regulatory backgrounds. We started by asking ourselves: “What do the stakeholders need and what are the best technologies for the job?” And then there is Blockdraw…​
18. We combined technologies to create a secure, scalable and fast decentralized peer-to-peer gambling solution that uses the best of cryptography, blockchains, mathematics, proven random number generators, and even servers And then there is Blockdraw…
19. Our peer-to-peer mental poker algorithm (Golle algorithm) is built into a DAPP and allows players to cooperate to generate cryptographically secure random results using industry standard RNGs as inputs – no single player can impact the outcome And then there is Blockdraw…
20. Created the LEAP protocol that is blockchain agnostic (future proof), currently uses Hyperledger (500,000 transactions per minute), runs Ethereum smart contracts and resides on secure servers and when linked to a public blockchain can use SHA- 256 hashes to ensure the same (or better) verifiability and integrity as public blockchain And then there is Blockdraw…
21. Didn’t launch a useless token that would distract from our product or risk reputational damage; soon we will launch on ETH, with a USD Token to follow And then there is Blockdraw…
22. Both ETH and BTC are excellent tokens for gambling, but a USD token will allow for real world product adoption by larger players And then there is Blockdraw…
23. Gambling is very user specific. Poker player is poker player, slots player is slots player. Crypto players want true crypto gambling products ETH and BTC are Huge Potential Underserved Gambling Markets
24. Crypto players are an exclusive club. They expect exclusive products and solutions, not fake look-a-like solutions that don’t specifically service their needs ETH and BTC are Huge Potential Underserved Gambling Markets
25. Wagering in Crypto is already a huge business: ▪ ICOs are a form of gambling ▪ Contract for difference (leveraged futures) sites like Bitmix already handling billions of USD in volume ▪ CryptoKitties while a fad game, made millions ▪ Crypto dice games, combined together are earning $100Ks a month ETH and BTC are Huge Potential Underserved Gambling Markets
26. Fiat backed coins combined with real businesses are the future of cryptocurrencies Utility tokens that represent pre-paid purchases or product incentives create real value just like in crowdfunding models Stable Coin and Incentive Tokens are the future
27. D A R I N O L I V E R , B L O C K D R A W C A P I T A L L I M I T E D The End