Dr. Wright is involved with Bitcoin SV (BSV), which has restored the original Bitcoin protocol and provided unlimited scalability by realizing his original vision for Bitcoin. This means BSV has a built-in protocol that creates a solid foundation that developers can use to build various betting applications without worrying about the massive data that cashless casino platforms will generate. As BSV continues to scale, it can now execute low-cost microtransactions that outperform all other digital currencies in power and price. In addition to this, the BSV blockchain, which is a public and distributed ledger running on a decentralized system, provides superior security, transparency and data integrity.
“This way, all of this can be built completely safely and cost-effectively, without having to install expensive infrastructure, high-performance firewalls, or any other aspect of it. One secure website will handle this, ”said Dr. Wright.
Online gaming on the blockchain is extremely efficient thanks to a traceable, powerful and cost-effective system. This is in stark contrast to the unlicensed crypto casinos that are popping up all over the place, allowing underage gamblers to place bets. Suspicious actors like them can be involved in money laundering or other cryptocurrency fraud.
“Most of them are currently related to money laundering. So they are mixers. They invest their money, try to avoid taxes or other obligations, then take their money. This will be a big problem in the long run, because if you have mixed funds, you will lose your funds, ”warned Dr. Wright.
Unlike BSV, ‘when you pay it can all be recorded, it can be a complete audit trail simplifying the casino reporting obligations, which gives you peace of mind because if something goes wrong, now you have proof. what went wrong, ”added Dr. Wright.