Alphaslot CEO Raymond Chan spoke to CryptoGamblingNews.com about the benefits of bringing blockchain technology onto the casino floor.

Please could you introduce Alphaslot to CryptoGamblingNews.com readers?

Alphaslot believes casino gaming, and more broadly the casino entertainment value, should be appreciated like all other entertainment modes on the internet age today — interactively, securely, globally, and responsibly.

By design, this entertainment value will be built on an interactive blockchain ecosystem and involve the participation of existing service providers (e.g. game designers, casino operators, regulators) and new types of providers (e.g. distributed gaming technology companies).

Alphaslot is uniquely positioned to achieve that stage as a distributed gaming ecosystem with a native digital asset, SLOT, that directly bridges casinos and customers for increasing incentive to play on the casino floors.

SLOT are minted by betting with fiat currency on the casino floors based on the amount of time spent, speed of play, and other gaming-related circumstances. By using SLOT, casino customers will be able to unlock digital accessories that aren’t available for direct sales, creating additional in-game boosts to enhance the gaming experience.

By accumulating SLOT, players will be better equipped with more control while playing, allowing in-game strategy and potentially positioning themselves with higher chances of winning (in selected jurisdictions). These features will engage players for longer time-on-device and drive up revenue from the casino floors.

The blockchain infrastructure will also create access for the regulators to promo responsible gambling and AML, for game designer to tap into new sources of information of their players, for casino operators to expand reach on their customers via CRM, for technology companies to innovate in presently unimaginable ways, and for gaming values to grow exponentially.

What products does Alphaslot currently offer operators, and what is next on the roadmap?

Alphaslot offers an entirely new, rich customer segmentation of next generations for casino operators via building a blockchain ecosystem. Alphaslot increases customer retention rate when casinos spend millions to acquire them.

The “Alphaslot-ready” gaming machines (operated by casinos) can add new features to interact with the gamers via mining the SLOT tokens and catching related digital assets on players mobile device while on a traditional casino floor, offering competitive products to attract new customers and prolong their gaming activities on the casino floors. The encrypted customer data on the blockchain network also ensure their investments are preserved.

Alphaslot also offers the game makers, for the first time in history, direct access to interact with casino gamers through the Alphaslot ecosystem, making modern gaming elements available from within the games themselves.

As the gamers’ data is encrypted and anonymous on the blockchain, casinos are more willing to open the customer gateway with game makers for product improvement. Game makers will be able to offer digital assets for gamers to acquire, making them to stay longer on their games and increase revenue for both game makers and casino operators. These unique characteristics present new business opportunities for the industry to compete with upstarts.

Much of the focus around blockchain and gaming has been on the online space. Do you see a significant opportunity in the land-based sector as well?

We believe the traditional casino gaming, and more broadly the casino entertainment value, should be appreciated like all other entertainment modes on the internet age today — interactively, securely, globally, and responsibly.

By design, this entertainment value will be built on an interactive blockchain ecosystem and involve the participation of existing service providers (e.g. game designers, casino operators, regulators) and new types of providers (e.g. distributed gaming technology companies).

Whoever can see the future coming will have the first mover advantage to leverage the new wave of network effects

Raymond Chan, CEO, Alphaslot

What are the primary challenges when it comes to encouraging adoption of this technology in the land-based sector? And why is it important land-based casinos seriously consider blockchain?

Casino entertainment is no longer the preference for the next generation. Think about the last time you visited a casino in Las Vegas, Singapore or Macau, in particular. Did it look pretty much the same as the first time you went in to celebrate your 18th birthday (or 21st in some countries)?

Did you have the same excitement as the first time you took a photo with your Kodak camera when you won the first 100 dollars from a slot machine? The reason they’re so out-dated and unattractive is they’re beholden to an antiquated and inefficient business model, dating to before the dawn of the internet gaming era.

The numbers are telling. Thanks to an expensive investment on marketing and the building of new attractions by the casinos, 42.9 million customers visit Las Vegas and 32 million more come to Macau, helping to create $129 billion in revenue for over 2000 casinos worldwide. But spending on the casino floors has dropped from 70% in 1990 to less than 35% in recent years.

When the next generations are demanding an interactive gaming experience, the casinos and their game manufacturers must unite and respond. While modern gamers are enjoying eSports and social games, casinos are only able to purchase the same slot machines from a limited number of suppliers. Upgraded to a bigger screen is not enough.  A blockchain layer will help to connect the casino floors with customers and game makers, alongside operators to build an interactive gaming environment on a traditional gaming floor.

Where do you see the blockchain gaming space heading over the next few years?

We are still in the early stages of the blockchain technology and the use cases within the gaming industry are still experimental. The second layer technology and ability to connect multiple blockchains synergistically will be the next milestone. Creation of quality games will follow once the associated blockchain technology (and financial benefits) becomes accessible to the game developers.

A new chain of gaming ecosystem will form in parallel during the whole process. Whoever can see the future coming will have the first mover advantage to leverage the new wave of network effects, which can potentially be bigger than the web 2.0 /3.0 combined in terms of economic impact to our society.

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