CasinoLand is Bringing a Decentralised Ecosystem to Online Gambling
By Harry Biswell – Cryptocurrency Expert
Decentralised Financial (DeFi) payment systems are emerging in all areas of the FinTech and Ecommerce sectors. DeFi is playing a pivotal role as more traditional financial institutions, including investment companies, trusted Bitcoin brokers and loan associations, seek to integrate cryptocurrency trading and blockchain technology into their systems. DeFi as a concept is appearing to fuel the development of blockchain while simultaneously, the concept of blockchain is equally fueling the growth of DeFi.
As both the ecommerce and crypto buying industries grow, online gambling sites are showing just as much interest in adopting this technology and CasinoLand is doing just this. Intending to remove the untranspararent and dishonest perception of gambling, the platform aims to use smart contracts to authorize games and results. Such activity will be stored on the blockchain and available to all. In addition to this, CasinoLand are also implementing tougher cybersecurity practices for their customers, while not storing any assets online. Players and network participants will hold their own private key.
With this development, CasinoLand will become the first Decentralised Autonomous Organisation (DAO). These are considered digital entities that operate under strict cryptographic rules and are managed by shareholders without a hierarchical structure. Multiple features will be available to common users, with various ways of adding volume to their wallet. Players will be required to exchange cAssets to CasinoUSD for withdrawals at any time.
The company also have plans to further enhance transparency and credibility to their new ecosystem. The DAOCasinoLand network will use a lending and borrowing program referred to as ‘Staking and Banker.’ These two key features will enable and encourage the earning and spending of the blockchain’s native currency, CLN.
Dear valued BC Bitcoin UK Clients,
I hope this email finds you well. We are reaching out to inform you of some significant changes to our services that directly impact our operations within the United Kingdom. Regrettably, due to the recent regulatory developments introduced by the Financial Conduct Authority (FCA) and the implementation of the new Financial Promotions Regime, BC Bitcoin is no longer able to offer our services to clients based in the UK. This very difficult decision is in compliance with the regulatory framework and ensures that we uphold the highest standards of transparency and legality. You can view the FCA publication here: https://www.fca.org.uk/publication/finalised-guidance/fg23-3.pdf As a result, we would like to inform you of the following changes and provide guidance on how to manage your assets with BC Bitcoin:
1. **Service Termination for UK Clients:**BC Bitcoin will no longer be able to accept new purchase orders from clients residing in the United Kingdom.
2. **Continued Operation Outside the UK:**Despite the changes within the UK, BC Bitcoin will continue to operate outside of the UK as normal. Our services will remain unaffected for clients in other regions.
3. **Withdrawal of Assets:**For our UK clients holding assets with BC Bitcoin, we want to assure you that your assets are secure. You have the option to safely withdraw your assets or exchange them to GBP or EUR and subsequently withdraw. We have streamlined the withdrawal process to ensure convenience for our clients.
4. **Conversion of Assets:**To convert your Holdings to fiat please log in to your BC Bitcoin account and submit a sell order for the amount of coin you hold with us. During the process you will shown how much you will receive and asked the bank details you wish to receive payment to. In addition, you can request the conversion by emailing firstname.lastname@example.org from your registered email address. If you encounter any issues or require assistance, our customer support team is ready to help you throughout the process.
5. **Withdrawal Procedure:**To initiate a withdrawal, please email your request to email@example.com from your registered email address. You may be asked some security questions to verify your identity. If you encounter any issues or require assistance, our customer support team is ready to help you throughout the process. These changes are effective immediately, and we appreciate your understanding and cooperation during this transitional period. We understand that this may be an inconvenience for our UK clients, and we sincerely apologise for any disruption this may cause. Thank you for being a valued part of the BC Bitcoin community. We are committed to providing you with a seamless experience as we navigate through these regulatory changes. If you have any questions or concerns, please do not hesitate to reach out to our customer support team at firstname.lastname@example.org Kind Regards