hat is SoftSwiss all about?
We’ve been operating in the area of IT since 2008, initially as an outsourcing company and then as a product company focused on developing an online auction platform. Solid programming background and availability of highly qualified developers in Belarus (where SoftSwiss back office is located) left not much choice but to further expand into the software product sphere. Why gaming? Again, in Belarus we’ve come across very profound knowledge of online gambling technologies in the developer community. This together with the speedy growth of the iGaming market became the decisive factors in pursuing this business initiative.
Our company mission today can be defined as using and inventing innovative technologies to provide high-end software products to businesses in the iGaming industry and bringing online casino to a new level. Our main focus is providing a complete solution for online gaming. That includes the software platform, a wide choice of games developed by SoftSwiss and other content providers, and a whole infrastructure for financial and legal operation which we offer as White Label.
Besides that, SoftSwiss is strongly associated with Bitcoin gaming. Several years ago we were the first to adapt our platform and games to make them Bitcoin-compliant. Since then SoftSwiss has become the leading provider of Bitcoin casino solutions and a pioneer in cryptocurrency gaming. Our achievements in this area are well recognized and our best reward is the launch of an online casino powered by SoftSwiss under Bitcoin.com. It is actually happening today!
Casino.bitcoin.com will feature over 1,000 games from major online game providers, and it will operate under a SoftSwiss gaming license issued in Curaçao. The brand new online casino will also support fiat deposit, play and cashout options in Euro, British Pounds and US Dollars – a move that will satisfy players who may not yet be familiar with Bitcoin, or who simply wish to use fiat currencies.
"The main question is not taxation but the lack of possibility to use individuals' money for government purposes"
What is the potential of cryptocurrencies in the online gambling industry?
I strongly believe that in the future online gambling will make a turn from fiat money to cryptocurrencies because they make a perfect match. Transparency of all financial transactions, instant cashouts, Provably Fair technology – these are the obvious advantages that Bitcoin brings to online gaming. Adding Bitcoin as a payment method to your website neither implies any risks nor brings negative consequences. It just helps target a wider segment of players. A number of well-known online casinos and game-providers have already included Bitcoin in the list of accepted currencies. With a Bitcoin casino, you don’t depend on any third parties and payment services. Casino operators have full control over finances on their side. I’m therefore absolutely convinced in Bitcoin viability.
"The global financial system has been going through a significant transformation stage due to the growth of cryptocurrencies and the emergence of decentralized management"
The Washington Post said bitcoins were one of the six technologies in 2015 that would change the world. What are the challenges facing bitcoin payments adoption?
Indeed, Bitcoin is one of the fastest-growing technologies nowadays. It has brought the innovative notion of Blockchain with it. It is quite obvious that the global financial system has been going through a significant transformation stage due to the growth of cryptocurrencies and the emergence of decentralized management. It's clear and normal that the process is accompanied by certain skepticism and not always accepted as granted. Changes are always challenging. However, Bitcoin payment technology is already widely used and a lot of work has been put in achieving its perfect security. It is working safely, smoothly, and is gradually becoming mainstream, so the main challenge is to believe in the future development of cryptocurrencies and fight skepticism. Think back to the 1990s when some people believed in the future of Email and for others its wide adoption seemed impossible.
Why are governments concerned about taxation and their lack of control over the currency?
The concerns of the governments can be caused by the lack of understanding and no deep insight into the essence of cryptocurrencies. What is control over a currency? It is the wish of the government to control the liquid property of an individual and influence the possibility to use this property in any desired way. In other words, in order to use your own funds, you literally have to get approval from the government. Bitcoin changes this completely and brings the right of using the property back to the individual. The main question is not taxation but the lack of possibility to use individuals' money for government purposes, that is what the state is mostly worried about.
When will see full adoption of Bitcoin across the globe?
I hope it will happen in the near future but that depends on how soon people become ready for complete financial independence.
What are the reasons to use a Bitcoin gaming site rather than using one featuring traditional payment methods?
One of the most attractive features of Bitcoin games is Provable Fairness. This is the technology that enables the player to verify the outcome of each bet. Players trust math not men, and no license or certificate can guarantee 100% of randomness and fair play; Bitcoin can. It has to be mentioned not all Bitcoin-enabled games are provably fair, but some (like SoftSwiss) are.
Besides, the possibility of instant cashouts is very important. It helps avoid lengthy withdrawal procedures, bank approvals, as well as eliminates any additional third-party fees. The player has complete control of their money and can use it any time without revealing tons of personal information.
Since Bitcoin is a universal payment method, it allows enjoying the same online casino from different parts of the world without having to worry about the exchange rates.
What are SoftSwiss plans for the year ahead? Any strategic partnerships on the horizon?
We continue improving our products and plan on launching a number of new brands. We also enhance our partnerships with game providers, and the portfolio of games you can play at a casino powered by SoftSwiss already has more that 1000 items from the top-notch content developers. Our goal is to approach industry leaders with the idea of adopting Bitcoin and helping them with the technology, because together we can do more.
Learn more about SoftSwiss.