G8C developing a blockchain-based online casino platform
Please introduce yourself and your startup GanaEight Coin to our readers!
“GanaEight Coin (G8C) is a blockchain project which is developing a blockchain-based online casino platform. The platform that we’re building will enable us to create complete transparency in the online casino world and will make iGaming a better experience for both gamers and operators.”
How did you get the idea for G8C?
“The online casino industry has a trust issue. Many casino users often question how fair existing online games are and accusations of casinos manipulating a game’s true odds have been made in the past. At G8C we had the idea to eradicate this issue of lack of trust and champion transparency with our blockchain platform, wallet and token. Our blockchain platform enables wins and losses generated by random number algorithms to be viewed in real-time, allowing players to see for themselves that the outcome is fair and eliminating the need for players to blindly trust the casino.”
How difficult was the start and what challenges you had to overcome?
“G8C is part of the Ganapati Group, a global company producing Japanese-themed online casino content, which has offices and game studios in Japan, UK, Malta, Taiwan and Estonia, amongst others. Our blockchain venture, G8C, is headquartered in Malta. Being spread across the globe like this, and with each market so different, adapting to how each one works at first was a challenge.
Being an international company also means that our team is extremely diverse, and we represent many different cultures. As is often the case with startups, recruiting talent is always a challenge, especially with such a mix of nationalities in the G8C team. It’s imperative that we hire the right talent who can add value to our business, but also fit in to the environment we want to create. At the beginning this was difficult but now we’re at the stage where we feel we’ve hired the best talent for us as a company. We may represent fourteen separate nationalities but at G8C we all have the same one vision.”
Who is your target audience?
Our target audience is both casino users and the casinos themselves. The aim is for our platform to be adopted by other big online casinos, and for the G8C token and wallet to become a commonplace method of betting on these sites. Our blockchain platform will certainly benefit casinos by bringing transparency into the mix – users will gain trust in the casinos and in turn casinos will retain and gain users. The G8C token itself is to be a stablecoin and utility token – something which players have an actual use for and that will benefit their gameplay. Using the G8C token makes betting quicker and easier, with no need for exchanging currencies into chips, and no transaction fees involved.
What is the USP of your startup?
We understand the iGaming industry inside out. Being part of the Japanese gaming group, Ganapati, it means our heritage is steeped in gaming. We know what both the online gaming industry and the gamers themselves want and need. It also means that we already have the relationships and connections within the iGaming industry firmly in place, as we’ve been providing our games to these casinos for over a year now. We are in the best possible position to embark on this blockchain mission, as we have the right people working with us and the right people supporting us.
I’m a lawyer with more than 20 years of legal experience, and was originally the group’s legal counsel, and later CLO, for two years before G8C came about. So as G8C’s CEO I understand not only the company’s legal requirements but the entire group’s culture and vision. Having a legal professional at the helm in our industry makes us unique as it makes sure G8C adheres to the regulations which will help drive this industry forward.
Another USP of G8C would be our unique stablecoin concept. The G8C token is to be a stablecoin, which means it will hold a stable value and not merely be listed on exchanges to watch its value fluctuate wildly. It will hold its own, consistent, true value, and bought and sold because it has an actual use, rather than purely for speculative purposes like a lot of other cryptocurrencies. At G8C we are creating a new form of stablecoin, in that its value will be pegged to online casino players’ minimum bets, rather than the traditional fiat or cryptocurrency. 1 G8C will always equal 1 minimum bet.
Where do you see yourself and your startup G8C in five years?
In five years’ time my hope is that the iGaming industry has been revolutionised by G8C, and its reputation is very different from what it is today. People who want to play online casino games can do so easily and safely, without any concerns of corruption or deceit. If G8C is able to be a frontrunner in this movement, we would all be very proud.
What 3 tips would you give other Start-up founders on the way?
- Build a clear vision. Every startup must have a goal – ours is to create a more transparent environment for the online casino industry. In everything we build and create we make sure this goal is the sole focus. Work out what your vision is and stick to it.
- Create a great team. G8C wouldn’t be what it is today if it wasn’t for its team. Create an environment where a vision is shared, and talent can thrive.
- Work hard. Being a CEO isn’t easy, but those who are successful are always the hardest working.
More information you will find here
Thank you Hayato Terai for the Interview
Statements of the author and the interviewee do not necessarily represent the editors and the publisher opinion again.