Startup Gamblica Wants to Turn the Gambling Industry Upside Down with Blockchain Tech

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by Alexandra Sayapina · 4 min read
Startup Gamblica Wants to Turn the Gambling Industry Upside Down with Blockchain Tech
Photo: Gamblica

Gamblica is created by gamblers and for gamblers. The online gambling platform has set an ambitious goal: to solve the problem of fraud and increase the industry’s credibility.

Online gambling attracts millions of people all over the world. This industry is going through a period of rapid development: the annual growth is about 9%. This rate is even more impressive when translated to numbers: the online gambling market growth is $5 billion per year. However, the fast pace of development does not guarantee the high quality of service. The invasion of the blockchain technology may enhance the standards of online gambling.

The Gamblica platform is using the cutting-edge technology of the smart contracts to provide the users with the variety of gambling activities. This gambling operator offers traditional casino games like roulette and slot machines, poker room for card sharks and sports betting to satisfy fans all over the world. All of these gambling activities are transparent and secure due to their blockchain nature. And that may become the key point for the further development of the online gambling industry.

There are some problems that cast a shadow over online gambling. The fraud by some operators is definitely heading this list. Even though traditional casinos are not always playing by the rules, their online colleagues are much worse at inspiring trust. The possibility of rigging seems to be a perfect explanation for long series of losses. Even though most of the platforms prefer to stay honest dealing with clients, the cases of fraud compromise the whole industry.

One more problem which ruins the reputation of online gambling is the risk of not getting the money won. A gambler cannot be sure that the account will not get blocked the very moment one hits the jackpot.

Blockchain can bring revolutionizing changes to the sphere of online gambling. The concept of the decentralized network does not give a gambling operator a chance for data falsification. Every spin of the roulette, every game result can be verified in seconds. This approach may become a solution to the problems the industry is facing. And it has already become a source of inspiration for a team of talented managers and developers who share one passion – gambling.

Gamblica has created a new platform to protect the users from frauds and high fees. One more benefit of the blockchain is the security of the personal data.

The distributed ledger technology is seems to be the perfect solution for the online gambling industry – and the Gamblica team believes that the transparency and security of the platform will attract users all over the world. This team with 15+ years experience has created the platform which leaves no room for cheating and frauds. But that is not the only advantage of the technology. Users of Gamblica also enjoy the lightning fast and hack-proof transactions. The team is working hard on widening the geography of the project – Gamblica’s White Paper is available in 9 languages.

Gamblica is not the only blockchain-based gambling platform – and it is definitely learning from its competitors. Lots of blockchain casinos has failed because of the misplaced priorities: they were targeting the casino operators that used fraudulent schemes and activities for bigger profits. The team of Gamblica has chosen the other approach: these people are gamblers and the satisfaction of their users is their top priority.

The concept of no-fraud casino is simple, still it requires the usage of smart contracts and arcane cryptographic theories. The outcome of the game cannot be compromised. The unique RNG created for this platform uses several independent parameters. Their combination is creating a RSA PRNG algorithm that ensures the security of the gambling platform.

The platform is working with its own utility token GMBC. The token sale started on the 1st of March. The early supporters got rewarded with 50% bonus. The bonus is still available but it gradually decreases and will hit 0% in the last stage of the crowdsale. The earlier one buys GMBCs, the bigger is the bonus.

The participation in the token sale is simple: the thorough step by step guide on how to buy GMBCs has been created to avoid any difficulties.

The acceptable cryptocurrencies are BTC and ETH. After the token sale, GMBCs can be transferred to the  external ERC-20 compatible Ethereum wallet for convenient usage.

Blockchain News, Cryptocurrency news, News, Token Sales
Alexandra Sayapina

Alexandra is a software engineer who specializes in core banking systems development for financial and IT spheres. Taking strong interest in blockchain, cryptocurrencies, and IoT, Alexandra got deep understanding of the emerging techs believing in their potential to drive the future.

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