The decentralised crypto casino industry has been on the rise ever since its early beginnings in 2009. Bitcoin and Decentralised Finance (DeFi) in gaming has received a major boost over the last few months because of increased popularity in the blockchain realms.
It has been said that blockchain casinos have the solution to many of the industry’s woes, especially when it comes to transparency. Royal Finance has risen to the occasion to prove that point and is now backing the emergence of iGaming and DeFi with a $1.45 million liquidity pool to make sure that a balanced decentralised casino community is established to drive the gambling industry forward.
It Takes Hybrid Thinking to Make the Gambling Industry Work
Royal Finance has rallied the allegiance of top investors like Alphabit Fund, AU21 Capital, Fomocraft Ventures, Kyros Ventures, and Vendetta Capital to form a strong multi-million-dollar pool of funds for the support of new Decentralised Finance iGaming start-ups.
Royal Finance admits centralised mechanisms simply are not working in the favour of the paying public. Giorgio Andrews, CEO of the company said:
“Centralized finance has stifled innovation in the iGaming sector. There is a lack of accountability and transparency, with too much control in the hands of few.’’
As such, the firm seeks to create a new network of casino businesses that strive towards righting the wrongs of the current commercial casino industry. This will firstly be addressed by correcting the transparency issues involved with casino games so that gamblers can rest easy that they are playing titles that are 100% fair.
As such, the funds will only be granted to start-ups that are willing to be fully licensed and have their RNG software tested for authenticity. Each operator will have to ensure that they implement provably fair algorithms into their games. This way, players can accurately determine that each game round is fair by examining the open-source code of the RNG.
The CEO went on to say:
“Royale takes a hybrid approach that combines blockchain technology and DeFi to bring both fairness and accessibility to the sector, opening the door to the next wave of innovators. By doing this, not only will iGaming start-ups earn more, but every online casino operator will soon be able to attract provably fair games supported by our network and token holders.”
The finance guru has employed a valueless digital token called ROYA, to enable coordination between DeFi liquidity providers within the $1.4 million pool and the dispersion of loans to iGaming companies. This links all parties of interest within a network, where all token holders may vote on which games to support going forward.
It is Royal Finances’ goal to build its own suite of provably fair games and eventually transition into becoming a completely Decentralised Autonomous Organisation. Their first step towards this vision has been realised in the development of their now completed Version 1 Web 3.0 App.
They believe that through their working example, all casino operators will be able to adopt more provably fair games onto their platforms in the near future.
Unravelling the Weave
While there has been much said of the centralised power of the gambling industry and their unchecked and untransparent gaming practices, there are very real shortfalls involved in the purist blockchain market space too. For instance, independent crypto casinos escape regulation, and many of their decisions and practices go unchecked.
Perhaps this particular initiative is what the industry needs to establish an acceptable middle ground. Where a degree of regulation meets a transparent decentralised payment network to usher in the best of both worlds.
It has been touted time and time again that crypto casinos hold the key to the gambling future of the world. If we are honest with ourselves, it seems more likely that the adoption of a hybrid philosophy will bring about a better balance to it all.
All we can say is that the prospects for the future look exciting and there may soon be a day when players will not have to question the legitimacy of any round they play. This will earn the industry bragging rites among its critics.