INTERVIEW: BetConstruct targets blockchain growth with Fasttoken

Updated Jun 12, 2020 | Published Apr 8, 2019
There was understandable excitement when BetConstruct, one of the igaming industry’s most successful providers, announced it was making a move into crypto with the launch of Fasttoken. We caught up with the Head of the Fasttoken Project, Armen Chakhoyan, to find out how things are progressing.
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Please could you introduce Fasttoken and what it sets out to achieve?

Armen Chakhoyan: Fasttoken is an all in one blockchain-based gaming and wagering solution, created and aimed at providing transparent and unique gaming experiences to players. In the world where speculations and fraud have a more fundamental position than gaming itself, a solution is needed to bring back the true philosophy of fair and immutable and gaming experiences.

Enter blockchain. New opportunities for gambling and crypto enthusiasts come forward. The idea to become a part of the blockchain industry and build a portfolio by playing provably fair games seems captivating.

Fasttoken developed a technology allowing to modify existing, centralized games and link them to the blockchain and also create blockchain-based slots from scratch. This is done by providing the smart contracts for slot, lottery and dice games.

The token – FTN – is of Ethereum’s ERC20 standard and is used to power the whole ecosystem, place bets and collect winnings, participate in unique, cryptocurrency-entry only tournaments and receive cashback bonuses, as well as provide rewards for game developers and slot builders.

INTERVIEW BetConstruct targets blockchain growth with Fasttoken

Why has BetConstruct decided to make this significant move into the blockchain sector?

AC: BetConstruct always tries to come up with fresh and innovative solutions. Revolutionizing an industry with a focus towards the customer is always a big deal and blockchain technology allows us to do exactly that.

In BetConstruct’s case, the plan is to introduce maximum transparency into the world of gambling, while allowing players more control over their gaming experiences in the form of having quick and easy access to the verification of winning distributions, deposits, withdrawals, etc. At the same time, we decrease the power of the operator in the eyes of the crowd by automating and entrusting a high number of critical processes to the blockchain, thus creating a maximum fair gaming environment.

With the help of blockchain technology, the gambling industry can take a huge leap forward, and come up with the improvements and necessary adjustments to meet the expectations of the players. Taking into account all the benefits and innovative opportunities provided by the blockchain, it’s not surprising that BetConstruct is one of the first iGaming companies to jump in and implement an innovative solution to the market.

What advantages do you think BetConstruct's standing within iGaming will give Fasttoken over other crypto gaming projects that may not have the same level of iGaming experience?

Fasttoken is developed and fully supported by BetConstruct, a leading software solutions provider for the gambling market. Headquartered in London, BetConstruct has over 15 years of experience, 2500+ workforce, a network of 300+ partners and over a million monthly active user base across the globe.

With the existing loyal, active player base Fasttoken will not have any issue with finding active players, unlike the vast majority of competitors. The partners of BetConstruct have already shown a keen interest in the project, and would love to implement blockchain-based gaming into their casinos, where their users can play via FTN.

What is the timeline and roadmap for the launch of Fasttoken?

Decentralized Slots and Lottery Games Demo at ICE 20192019 Q1
Live Decentralized slots and lotteries Demo on Fasttoken website2019 Q1
Smart Contract codes publicized on GitHub2019 Q1
Whitepaper registration with Maltese Authorities2019 Q2
Partner contracts and KYC2019 Q2-Q3
ERC20 token distribution2019 Q2-Q3
Main Net Launch2019 Q3
Integration of FTN to Existing Casinos2019 Q3
Token listing on exchanges2019 Q3
Optimization for state channels update from Ethereum 2019 Q3
User-friendly tools for fairness check2019 Q3
White label solution ready2019 Q3
MGA license acquired2019 Q3
Third party Casino integrations2019 Q4
Affiliate program integration2019 Q4
Skill Games Integration with the blockchain2019 Q4
Betting oracle platform launch2020 Q1
Sports Betting2020 Q1
Blockchain-based social betting using Fast Channels2020 Q3
Other popular blockchains integration2020 Q4

Please note that the roadmap is subject to change depending on a number of factors. This section should also include the token sale, however, we cannot disclose any token sale information until legal matters are sorted out.

How do you see the outlook for blockchain technology within the igaming space over the next five years?

The iGaming space is one of the leading industries on the globe that continually enhances and spreads its impact on different countries and people. Players always demand fresh and cutting edge solutions, as the industry suffers from fraud, manipulations, and speculations.

The need to implement new solutions on the blockchain platform is a great opportunity to revolutionize the stereotype that gambling is an addiction that leads to poverty or self-collapse. Gambling can also be an enjoyable and entertaining experience, where players can avoid cheatings and manipulations.

The fast-growing blockchain space can be an ideal match with the gambling industry to promote a healthier rivalry. We are strongly convinced that the future of gambling is interconnected with the blockchain, and this bond will become stronger as the market continues to mature.

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CGN senior journalist 

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