Breaking barriers for innovation: Stakers launches blockchain smart contracts

The newly emerged iGaming company Stakers Limited is paving its way towards the introduction of an innovative blockchain system, which offers a wide range of new opportunities to the players. Now all operations will be secured with the self-executed smart contract. Digitally signed with the hash it automatically enforces terms between two or more individuals or entities without the need for a third party to be involved.

Taking into account the experience of some companies that have already managed to integrate blockchain-based payment methods to several spheres of everyday life, Stakers considers it possible to launch its own “secure by design” transaction handling system which will ensure complete transparency of the gambling processes. Smart contract, an inherent part of the system, presupposes instant players’ bets processing with no fraud possibilities. Thus, providing guarantees in terms of odds and payouts, Stakers shows its player-oriented approach.

Although the cryptocurrency based gambling is not yet fully regulated and legalized by Malta Gaming Authority, certain steps towards its implementation have been undertaken. Being still a real cash wagering, all gambling transactions are protected by means of Ethereum-powered smart contracts, which means practically instant network data processing, their encryption and storage.

The business development manager of Stakers, Mr.Michael Schmidt, notes: “I have no doubts that smart contracts launching will make yet another prove of our dedication to fair play and reasonable gaming principles, helping to increase our credibility among the existing players as well as attract new audiences.”.

Lack of efficient and trusted legal regulations in this sphere has become painfully obvious. It can be also proved by the fact that certain bookmakers, either world renowned or newly emerged, have to struggle winning players’ confidence and respect. Stakers, in its turn, is also playing its part in the industry’s rehabilitation.

“Although we always try to implement the sports betting industry’s best practices, Stakers prefers to set trends rather than simply follow them. We are constantly maximizing our online tools as to introduce even more options to our players”, noticed Michael Schmidt.

Undoubtedly, blockchain technology is on its way to become the main instrument of the electronic financials in the nearest future. Over two-thirds of banking transactions are expected to be performed employing blockchain in the next couple of years. Due to its innovative approach which reflects current world realities, the system may perfectly fit practically any kind of business nowadays. The possibility to promote integrity of data history and high speed of transaction processing, makes blockchain-driven smart contracts extremely promising in terms of its application in everyday life as they definitely have yet to show their full potential.

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