Recently Bitcoin Association President has spelled out the uses of Bitcoin money. One of the features of Bitcoin is BSV, that is, Bitcoin Satoshi Vision which is a form of crypto-currency and can be used for gambling businesses, said Jimmy Nguyen, Bitcoin Association Founding President.
Fundstrat, a market strategy and sector research company discussed about uses of Bitcoin with Mr. Nguyen. In the said discussion Mr. Nguyen stated that Bitcoin can be used for brick and mortar, that is, physical casinos as well as online ones. He emphasized that BSV is the perfect home for gambling operations by presenting two examples.
He was speaking to Tom Lee and David Grier of the Fundstrats’ team.
Mr. Nguyen stated that, “Bitboss is a gaming technology company in the United States, and it is building numerous applications on Bitcoin SV. One of them is very relevant to the Covid-19 pandemic we’re having now, which is a desire to have a more cashless payment system, including in land casinos. So it’s Bridge system uses a hardware product attached to casino slot machines, and then gives you, the player if you’re going to casino in Vegas, you load to your mobile phone a mobile wallet they’ve created, you fund the wallet with what is going to be a BSV-based token, as opposed to going and inserting money or a card into an ATM machine to get cash, or into a slot machine.”
“Instead of using physical tickets, you use your mobile wallet with the BSV-based token to play on slot machines and other in-casino games, to create a more cashless casino system, which is in demand right now.”
Addressing an online platform the Association’s President spoke that, “They’ve (Dragon SV casino) also launched a BSV casino for Provably Fair Gaming, tracking the results of games on the blockchain so that players on a mobile basis can see that they’re getting fair results.”
Mr. Nguyen implied the expansion of the use of BSV to video games also as they are now becoming gambling products because of esports.
In this context he opined that, “They aren’t just having the game play out on the blockchain; they are using BSV to monetize all sorts of things. They are using the BSV blockchain to tokenize the in-game items in the virtual game. These are very popular with players, they trade them, they’ll even pay for them in other games with virtual currency. And they’ve moved away from an Ethereum based token system, because of congestion on the Ethereum network and high transaction fees, to BSV because they can create a trading marketplace where players trade these at high volumes for very, very tiny fees. And they’re also using the BSV blockchain for other data usage such as recording battle moves of games to create more fair game play, especially with esports betting around the corner.”