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   689

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.

Raven Protocol to be the First IDO at Binance DEX

Team cannot say exactly how IEO will pass, since similar campaigns hadn't been concluded at Binance DEX before, but they are going to sell $500k worth tokens
14 June 2019   434

The Raven Protocol cryptocurrency project announced about the planned initial exchange offering (IEO), which will be based on the infrastructure of the Binance DEX exchange - in this case the campaign will be called IDO or Initial Dex Offering.

Raven Protocol confirmed the right to list its token on Binance DEX paired with BNB on June 17 at 9:00 UTC. At the same time, the IDO of RAVEN tokens will start. The project draws attention to the fact that neither Binance, nor Binance Chain, nor Binance DEX stand behind this initiative.

At the same time, Raven Protocol notes that it cannot say how exactly IEO will pass, since with Binance DEX, similar campaigns have not been conducted before.

Potential participants need to pass a preliminary identification by sending to the address of founders@ravenprotocol.com their address in the Binance Chain, an identity document, a selfie and proof of residence.

In total, Raven Protocol expects to raise $ 500,000 by selling 3% of its own token emission (300,000,000 RAVEN). Accommodation will be on a first come, first served basis. The limit on the amount of investment for one user is declared at the level of 100 BNB.