CasinoCoin (CSC) has been taken over and relaunched with the aim of bringing cryptocurrency gaming to a wider audience.
As part of the relaunch, the newly-established Double C Foundation will support the development of CasinoCoin from offices in the Isle of Man.
The open source, peer-to-peer cryptocurrency aims to lead the industry in setting high best-use practice standards. It is currently developing features and new technology that will include built-in KYC, AML and responsible gaming features.
The purpose of the Foundation, a non-profit organisation, is to promote adoption and best-use practices of CasinoCoin in regulated gambling markets, and to help realise the continued optimal technological performance of the coin and its underlying blockchain.
The Foundation’s team, which includes former PokerStars marketing executive John Caldwell and former senior project manager of research & development for Rational Group Duncan Cameron, is committed to educating the commercial gambling industry to the benefits of CSC, and cryptocurrency in general.
“The only sustainable way forward for cryptocurrency in the gambling world is to work with regulators and operators from day one and focus on regulated markets,” Caldwell, now director of advocacy for the Foundation, said.
“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.
“We are excited to reintroduce CasinoCoin to the industry, and believe the Foundation will play an integral part in driving the coin’s future success.”
The Foundation will be supported by a small team of executives, lawyers and consultants from the online gambling industry, who will use their experience to act as advisors.