CasinoCoin (CSC)

Posted by

CasinoCoin is an open source, peer-to-peer cryptocurrency built to be the preferred digital token for the regulated online gambling industry.

Joke Name

CasinoCoin = Gambling Coin

Basic Intro

Link to the main website

Link to price/market cap

Exchange Ticker (CSC)

Coin or Token

Circulating Supply (36 Billion)

Total Supply (39 Billion)

Market Cap Ranking

Review

CasinoCoin is an open source, peer-to-peer cryptocurrency built to be the preferred digital token for the regulated online gambling industry.

The coin comes with a digital wallet, a transparent blockchain, and the enhanced security associated with most cryptocurrencies.

The CasinoCoin project has been in development for some time (it was launched all the way back in 2013). However, it was taken over in mid-2017 by a new team of developers. That team is in the process of adding new features to the platform. They want to embrace the benefits of cryptocurrency and blockchain technology while implementing features like KYC/AML, allowing regulators to do their jobs.

Key Features:

  • How it works
  • Differentiation

How it works

The idea for CasinoCoin first emerged after the online gambling industry’s infamous “Black Friday”, which took place on April 15, 2011. After this date, online casinos were effectively shut down across the United States. Online gambling platforms were forced to register with small island nations or Central American countries, and gamblers were forced to play on unregulated gambling platforms with limited transparency.
CasinoCoin was designed to solve that problem. Originally released in 2013, the currency is designed to be easily transferable between games, exchanges, and gamblers. The tokens were originally described as “universal casino chips.”

Ultimately, the original casino coin was an ambitious project that never really got off the ground. In spring of 2017, a group of developers and gambling industry professionals acquired Casino Coin (CSC). That group was called the Double C Foundation.

Later in the year, the group released the CasinoCoin Wallet for Android, which offered basic functionality for holding, transferring, and spending Casino Coin (CSC) tokens.

Differentiation

  • Unlike other gaming coins that are building a platform for developers to use, CasinoCoin is a payment method that can be incorporated into existing platforms.
  • CasinoCoin is built on a modified version of “Ripple” which gives it a competitive advantage among all other similar coins that lack governance and traceability required to make it a fiat-liquid asset.
  • CasinoCoin has partnered with “Jumio” — a highly reputable identity verification provider. A competitive edge that will make regulatory compliance an easily achieved milestone.

Problems:

Different doesn’t always mean better, unfortunately for Casinocoin, which despite its rebrand and redeeming features hasn’t manage to position itself in the gambling sector. Many betting sites already have their own KYC procedures implemented and are pretty unlikely to just hand over control to a third party like Casinocoin. Speaking of third party, many betting sites are now pretty straightforward to use and adding a third layer in the interaction in the face of a cryptocurrency just makes things more difficult.

Conclusion:

CasinoCoin first launched in 2013, but remained largely unknown and under-used until the beginning of 2017, when the project was acquired by a new group of gambling industry professionals and marketing executives. Together, the team – under the name “Double C Foundation” – plans to make CasinoCoin the ideal digital token for a regulated gambling industry.

Pros

  • KYC
  • Upgraded in 2017

Cons

  • No direct backing (asset, profits, commodity)
  • Competition
  • Limited Exchanges