I believe you actively building…
Here’s some few questions I would need clarification on.
Q.
What are the project’s cold storage practices,
Meaning how will user funds stored offline?
Mean I mean security for user deposit funds ?
Q.
You know betting and gambling even traditionally make need some regulations or license to operate.
So what will be the state of your project’s regulatory status?
Will the project licensed to operate in any jurisdictions? What are the laws and regulations that the project is subject to?
Q.
What will be the project’s KYC/AML policy?
I mean what information is required to create
an account, Will kyc be mandatory before using
your project?
Do have a lovely time Building your project
All the best buddy.
Welcome to Season 5, glad to see your project bordering around crypto gambling, not alot of information is being given out here so I’d be watching keenly as the hackathon advances. But for starters;
What sets the Gambler team and @Shabari apart? Are there any notable experiences or expertise they possess relevant to this project and any previously buidl record?
We are building the application with a keen intention to make it a final product. Currently, there will be only some basic features. With time, we will be focusing on building it strong and with all the security measures to be taken.
As I mentioned, my team members have already worked on gambling projects and developed a application. I am learning about the regulations and researching the licenses needed to operate such games.
I believe KYC is a must in a gambling project, my focus is on making the application with basic features. Other things will be dependent upon the success of this project.
Thank you @Gordian for the questions, I appreciate it.
What will these basic functions contain ? What will the initial games be ?
Licensing can cost upto $100k per license does the team have enough financial backing to initiate a good start for a casino ? In many countries you would need a seperate license to be able to operate there that’s why you see most will start without a license in place simply because the costs are unbearable.
Security needs to be in place from day 1 , not only to make it secure for the people playing on your system but also to preserve your own bank for not getting exploited on some of the games.
KYC should not be needed as we can see with most of the operating blockchain casinos they also do not have this . Implementing a KYC system will cost you allot of customers.
Team should have enough funding available from start to market this to the masses if you are going for the typical blockchain casino startup . If this is done well and the cheap nature of BTTC it can be a great project .
Hello @Dendorion, I know that it’s not cheap and I also know people who are already working on Casino projects and have a license too. I am also a part of the project. I think we will figure it out.
None of the current blockchain casino has a KYC only CEX need mandatory KYC to operate in certain countries. Comply with regulations currently would only mean they need a license to operate in specific countries . But on most startup casino we don’t see this because of the crazy costs , users can also circumvent this if a country is blocked by using a VPN but this limits your users on the system . As long as it’s not a world known casino can operate in the grey area.
That’s great to know that your team has experience working on gambling projects and is well-versed in blockchain technology. To further understand the team’s background and expertise, here is an additional questions:
How does the team plan to leverage their experience in both gambling and blockchain technology to make Crypto Gambling stand out and offer unique advantages in the market?
Also i have a question to ask, as we all know, gambling is very addictive and sometimes its can ruin ones life if care is not taken when dealing with it.
what education will the platform offer it users in terms of gambling addictions and what limitations will the platform put in place to ensure one does not lose all his life savings on the platform in just a day.
i think before one gets to use the platform, he should be able to set an amount he or she can afford to lose in a day, once that threshold is reached the person cant gamble again. something like that.
How many people in the team? Are they on the forum or intend to join?
Finally a casino on BTTC I hope you guys will do a great job and deliver something of quality, something secure and fun.