Malta authorities propose rules for blockchain gaming

Malta Gaming Authority has presented a list of recommended guidelines for the blockchain gaming operators, plans to open test environment for optimization
30 March 2018   419

Blockchain has been rapidly invading all the aspects of our everyday live and gaming companies haven't been left outside of the trend. Now the companies would have to contend with the new, as of now, “proposed guidelines” to make their games with distributed ledger technology available in Malta.

Right now the regulations presented by Malta Gaming Authority are just a series of recommended guidelines for the game developers to follow. The authorities are open for feedback regarding their new proposals and they established “sandbox” environment for testing out the impact of new regulations on the industry. Ultimately, this sandbox will become not only a testing stage but the foundation for the new set of regulations for the Malta's remote gaming ecosystem.

Right now, the proposed rules for utilizing the blockchain for gaming is quite lax. The developers have to satisfy the specific range of conditions for them to be receiving cryptocurrency. In particular, they would have to provide the certain financial and technological value in return for the said funds and the services or goods they provide in return have to be freely tradeable on exchanges with “competitive market capitalization”. Also, the cryptocurrency must be integral to the company's use case.

As part of the current “sandbox mode” all the games hosted should “maintain the transparency and prove the fairness of these games” through utilizing accessible distributed ledger.

The proposed guidelines cover this and other points, including the risks involved in usage of cryptocurrencies or custom tokens as a funding method.

SoftBank & Baidu to Invest in Atlas Protocol

Atlas Protocol was created by Nebulas Labs and xGoogler Blockchain Alliance
21 August 2018   130

The Atlas Protocol marketing module (ATP) has completed a round of attracting initial funding, led by SoftBank China Venture Capital (SBCVC), having collected several million dollars during it.

In a multimillion-dollar round, the exact amount of which was not disclosed, Baidu Ventures (BV), Danhua Capital and Fenbushi Digital also took part.

Atlas Protocol was created by Nebulas Labs and xGoogler Blockchain Alliance (xGBA). The "first developer" of Google Adwords, Jeremy Zhao and Columbia University Professor Ronggui Gu will serve as project advisors on technical issues.

Atlas Protocol plans to create a blockchain ecosystem and "to form a new paradigm of interactive marketing." According to the press release, ATP allows you to rank "calculated values ​​on the block and transfer value using tokens" using the ATP Smartdrop service application.

xGoogler Blockchain Alliance was formed in April this year as a community of former Google employees interested in blockchain technology. Its founders were the developers of projects Nebulas, Loopring and Gifto.