Argonaut Software founder and Ethereum guru Jez San’s Funfair project looks to make online gambling more secure with blockchains. He related a story about how the admins of an online casino site used privileges to view players' cards and pass the information onto accomplices, tilting the odds even more in favour of the house. With a blockchain every single transaction is publicly recorded and anyone can inspect and audit that record so such nefarious schemes would immediately be spotted. This also opens up an interesting choice for regulators, who could either embrace the technology and be able to monitor and police it or attempt to ignore or prevent it, in which case they would be totally shut out of the entire process. This is a very complex idea, for a deeper look into how this could work and the repercussions of it being embraced you can pop over to The Register.
"One of the brains behind classic Nintendo game Star Fox is launching a blockchain-based online gambling service that could leave regulators stumped – and says he has raised $200,000 from the public to launch it."
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