SiGMA | Blockchain
ISSUE 8 SPRING / SUMMER 2018
FUNFAIR TECHNOLOGIES IS AN ETHEREUM-BASED, DECENTRALISED CASINO TECHNOLOGY THAT COMBINES THE OPENNESS OF THE INTERNET WITH THE SECURITY ENDEMIC TO BLOCKCHAIN. THEIR NEWLY BUILT STATE CHANNEL TECHNOLOGY – CALLED FATE CHANNELS, IS REVOLUTIONISING THE WAY THE INDUSTRY WORKS, BY ALLOWING FOR GAMES TO WORK IN A WAY THAT IS FUN, FAST, AND MORE IMPORTANTLY, FAIR. AS IS EVIDENT FROM A POLL CONDUCTED BY THE UK GAMBLING COMMISSION – A VERY SMALL PERCENTAGE (33%) OF PLAYERS ACTUALLY TRUST THAT CASINOS AND THE GAMES THEY PLAY ARE FAIR. EVEN IF GAMES ARE ACTUALLY FAIR, PLAYERS DON’T ALWAYS THINK THEY ARE. THIS NEGATIVE PERCEPTION OF UNSCRUPULOUS GAMING IS SOMETHING FUNFAIR SEEKS TO TACKLE BY PROVIDING MAXIMUM TRANSPARENCY. What blockchain brings to the table is technology that has far-reaching potential to change the way gaming operates, making games that are not just fair, but demonstrably transparent. Put simply, trust is no longer built on the flimsy foundations of good faith, but on evidence-based proof. Both player and casino can see, in real-time, the roll of the dice and the random generator, which is seeded by both the player and the operator – something no existing online casino can currently do. Taking this technology a step further, the innovation of smart contracts has enabled casino games to be built on the blockchain too, so that their execution is provably and visibly fair. Ethereum is, by far, the leading blockchain and the only one that supports the current technology. Using Ethereum, we are one of the first applications of smart contracts to utilise such a highly-used product.
048
However, running games directly on the blockchain throws a spoke in an otherwise well-oiled wheel, resulting in a pace too sluggish to be enjoyable. A core benefit to our Fate Channel technology is that more or less anything you can do in the smart contracts - can be done off chain. The solution, therefore is simple: the entire game can be run this way in real-time, appeasing players looking for fast, smooth entertainment. Because fairness is more than just what is in the smart contract, we have a white-listing system where game developers create games and submit them to us to be examined for fairness – fairness is not only the code, but how they appear visually - how they depict the game. Eventually, this will be deferred to an official white listing authority.
Trust is no longer a two way street between casino and player, but a guaranteed assurance.