In recent years, Bitcoin has emerged as a formidable contender to national currencies across eCommerce and beyond. As a forward looking online casino software provider, SoftSwiss embraces Bitcoin for unrivaled level of transparency it provides to gamblers along with simplicity of payment handling.
SoftSwiss can offer online casino software with Bitcoin integrated as one of the payment gateway options as well as a full-blown “provably fair” custom Bitcoin iGaming solution.
Some insight into Bitcoin and how it reshapes the way people make payments online. Initial concept of creating an abstract measure of value independent of any government or authority is far from new. To limited extent, this role was performed by gold – a universally recognized precious metal. With emergence of Internet, a number of electronic payments processors sprang up.
However, until recently, it was not possible to easily make anonymous, transparent and secure online payments without restrictions by local laws and regulations. Enter Bitcoin – independent universal P2P digital currency.
Available to anyone but limited in supply, anonymous but transparent, unregulated and decentralized but easy to use and clearly defined – it seems to offer everything gold, real currencies and other electronic money were missing. This explains Bitcoin’s quick adoption by eCommerce and appreciation of exchange rate to major currencies.
Obviously, as one of the industries standing at the forefront of progress, iGaming quickly understood how instrumental Bitcoin is for its further development. Dealing with only one universal currency with no laws regulating its circulation is a whole lot easier compared to multiple regional payment gateways. Bitcoin also allows online casinos to offer unprecedented level of transparency into their gaming algorithms, creating the term “provably fair”.
What’s more, this increased transparency along with making gambling process essentially borderless means no need for licensing. In perspective, this has all chances of eventually becoming industry standard. If you think of it – is there a customer in the world who does not want to be assured their vendor is 100% fair to them?
