CoinGeek Conference: How Blockchain Can Reinvent Compliance

Cryptocurrency Info and news outlet CoinGeek have held a conference in New York city where various industry specialists gathered and supplied insights into crypto’s past, present, and future. Coingeek’s specialist press reporter Becky Liggero Fontana held a panel about how blockchain options can reinvent iGaming and aid operators regarding regulations and compliance. Throughout the first day of the conference, three industry specialists spoke on the matter, focusing on different fields.

Peter Bainbridge-Clayton Believes in the Robust-Log of a Blockchain

Peter Bainbridge-Clayton, creator and primary technology officer of a global business intelligence platform for KYC named Kompany. According to the creator, Kompany’s goal is to collect different market aspects in one location and develop a unifying application shows interface for iGaming suppliers. Kompany’s services record client interactions with the API to compile evidence that everything is certified with guidelines.

Bainbridge-Clayton spoke about the obstacles of the iGaming industry and how it can alleviate them through using a BVS blockchain and the nChain’s Kensei platform. According to him, the robust methods by which blockchain functions can assure that operators are certified and help them avoid fines. With a protected BVS blockchain, whatever has happened on the platform will be safe, and operators will have guaranteed evidence to demonstrate before regulators.

Bainbridge-Clayton and ‘Kompany’ are working closely with nChain to-propagate the blockchain-based solution to more operators.

Paul Foster: Unifying Data Can be Indispensable to the iGaming Market

Another panelist was Paul Foster, the CEO of Important Compliance. A business concentrated on mitigating betting damage brought on by irresponsible and uninformed wagering.

On the topic of Kensei and ‘nChain’, Foster mentioned two things. The first is that unifying information can prove invaluable to the currently fragmented worldwide iGaming market. The 2nd is that regulators happen to like Kensei’s idea of storing information on the blockchain. Much like Bainbridge-Clayton, Foster-emphasized how helpful a blockchain service can be to offer protected and reliable information that operators can present to regulators.

Vital compliance is a partner of nChain– the two work to make it much easier for operators to find and avoid gambling harm. As one of the primary-steps in their collaboration, Crucial Compliance will incorporate the Kensei platform to boost its Crucial Gamer Security system.

Nick Hill Points Out Blockchain Will-Relieve Weight from Operators’ Shoulders

Lastly, Nick Hill, owner of ‘Premier Chain’, spoke on the matter. Hill, an experienced veteran with more than 20 years of industry experience behind his back, understands the opportunities of ‘nChain’ and is collaborating with the company and the Kensei platform to increase its market appeal.

Hill explained that operators have been increasingly proactive with their operations, which puts more duty in the hands of operators. Hill thinks a blockchain-based compliance solution will eliminate a great deal of weight from the operators’ shoulders.

Blockchain options are here to remain. That much is for sure. While the technology-is still new, it seems incredibly appealing as it creates a complete log that holds the answer to any question that-regulators might ask. Blockchain can change iGaming to make it easier for operators to stay certified, ensuring a healthier online gambling community.

CoinGeek is carefully monitoring the procedures within the crypto space and how they may benefit the iGaming market. In its “Hashing it Out” series, Fontana-interviews numerous market specialists on the potential customers of incorporating blockchain services into online gambling. In mid-September, Hashing it Out reporters spoke with multiple industry veterans throughout the social obligation for gambling operators in London. In an earlier-episode, iGaming star Karolina Pelc discussed her interest in blockchain.