Russian startup DAO.Casino has floated a plan for an online decentralized platform on the Ethereum blockchain. It says the platform would solve a host of problems endemic to the online industry, including fraud risk, hidden fees, barriers to entry among game developers, operational overhead, player access to funds and “general lack of trust” in the industry, according to Yahoo Finance.
On June 29, the website reported, DAO.Casino will launch an initial coin offering, a way to raise money for cryptocurrency startups where investors buy up the startup coin with a more established currency like bitcoin.
Yahoo described DAO.Casino as “an open protocol for online gambling companies—like an online casino, blackjack game operator, or sports betting site—to build on.” It will also build its own branded games.
The company says online betting websites that integrate with its network can offer games without the casino, which Yahoo called “a middleman that takes a big cut and may not always be trustworthy.”
