In the world of online gambling, the CasinoCoin open-source peer-to-peer crypto-currency has been taken over by the newly-established Double C Foundation and re-launched with the aim of bringing the innovation to a wider audience.
The non-profit Double C Foundation stated that it will now aid the development of CasinoCoin from new offices in the Isle of Man and be supported and advised by a small team of online gaming industry lawyers, executives and consultants.
“The only sustainable way forward for crypto-currency in the gambling world is to work with regulators and operators from day one and focus on regulated markets,” read a statement from John Caldwell, Advocacy Director for Double C Foundation. “Our aim with CasinoCoin is to provide a currency and related technical tools that are designed and accessible for both operators and ordinary players in the regulated gambling industry.”
Double C Foundation additionally declared that it intends to “lead the industry” in terms of “best-use practice standards” and is currently in the process of developing new integrated technologies for CasinoCoin encompassing know-your-customer, anti-money laundering and responsible gaming features.
“We are excited to reintroduce CasinoCoin to the industry and believe [Double C] Foundation will play an integral part in driving the coin’s future success,” read the statement from Caldwell, who previously worked in a senior marketing role for PokerStars.