Lin Zheming and Alex Shore on ‘Hashing it Out’ Episode 5: Opening up iGaming opportunities with BSV wallet app ecosystemJune 21, 2021
Episode five of “Hashing it Out” features DotWallet Founder Lin Zheming and BitBoss CTO Alex Shore, two professionals who have partnered up to grow iGaming offerings within the BSV ecosystem. We cover the details of their partnership, the BSV Dynastic update, DotWallet’s recently launched “Badge” service and how all of these topics relate back to the iGaming industry.
What is Dragon BSV Casino
Dragon BSV Casino is a BSV blockchain powered mobile casino brand with a focus on Southeast Asia. There are a number of features that make a BSV-powered casino especially appealing, one being instant deposits and payouts straight from and to the player’s wallet and another being the “provably fair” nature of the games due to every single transaction being recorded on the blockchain.
“BitBoss runs the gaming platform for online casino operators, and Dragon is one of the first operators that has white labeled our platform and that’s their focus, that entire region,” Shore confirmed.
“We are running the platform and we can white label the mobile app that runs it on any smartphone and you can be up and running in a much quicker time than trying to build out your own system for sure,” he added.
What is DotWallet
With the majority of its users coming from Southeast Asia, DotWallet is one of the most popular wallet apps in the BSV ecosystem. Their range of services include the obvious sending and receiving of funds, but also features linked apps, a token exchange and a “Badge service,” amongst other things.
“We created a wallet that helps users to manage their digital assets, to make them more transparent for the user to see what they could do with their assets,” Zheming explained.
“We use the app ecosystem that can help users to navigate through different applications within the app store in the app so that they can discover what they can do with their digital assets and then they could try something new maybe,” he added.
Shore pointed out that the concept of an app store has traditionally been associated with Apple or Google, and Zheming and DotWallet are “blowing the doors wide open on the app store concept.”
“They have an app center in DotWallet and you don’t need to log into a Google account or be regulated by what Apple deems appropriate, you’re not subject to their decision making, essentially. And that’s not just for gaming. It’s for anything,” Shore explained.
“In the U.S. we’re seeing more and more censorship going on with big tech companies, so this concept of app stores and app centers being offered by other providers, such as DotWallet, it’s a big idea,” he said.
The DotWallet/Dragon BSV partnership
In February of this year, BitBoss announced an integration with DotWallet, meaning the one million plus users on DotWallet have native access to BitBoss white labels like Dragon BSV, all users have to do is download the app from the DotWallet app center.
“Basically we are leveraging the large userbase that DotWallet has, it’s a win-win from the perspective of we can offer DotWallet more content and [Dragon Casino] shows up in their app center for regions that it’s allowed,” Shore explained.
“And then for us, we have a whole new channel of users that we can now access. So people see our technology in DotWallet that otherwise wouldn’t know about it. They can tap on it. They can link over to our app and do real money gaming immediately and very easily by transferring BSV from their DotWallet wallet to their Dragon wallet,” Shore added.
The coveted Asia region has consistently been a challenge for Western iGaming operators to crack, especially when it comes to branding, player trust and payments. BitBoss has created an opportunity here for operators to easily launch their own brand as a white label on the BitBoss platform and obtain immediate access to this region.
BSV Dynastic update significance
Also announced in February of this year was the Dynastic update release for BSV Node software. In a nutshell, this means the unconfirmed transaction limit was increased from 25 to 1000, allowing for BSV powered applications to take advantage of greater on-chain scaling for linked transactions.
Picture a waiting room for recent transactions that are ready to be included in a block…with the Dynastic update, this “waiting room” is now much larger. Prior to the update, applications would sometimes have to wait 10 minutes for a new block to begin before their transactions would be allowed in the “waiting room.” This situation was not ideal for an iGaming application such as Dragon BSV as they are processing a large number of transactions all the time.
“This is huge for us because with gambling on a blockchain, you can prevent cheating or what’s called double spending by associating a player’s bet with the bet result or a payout that is sent back to that player. And that’s what we do to secure our system. It’s a huge advantage over non-blockchain based online gaming platforms,” Shore explained.
“To link those together, we could only essentially do about 12 bets, which is roughly 25 chain transactions that have not yet been confirmed in a block. With the limit changing from 25 to 1000, it blows the doors wide open. We really don’t have to restrict the speed of play anymore because that limit is now high enough where a player can’t really get ahead of the one thousand chain transactions,” he said.
“Any time a block gets mined, whether it’s in one minute, ten minutes or 20 minutes, the clock resets and we can then go back and start over with our one thousand chain transaction account. So it opens the doors wide open for the speed of play that we can offer on our platform,” Shore concluded.
Technical details aside, the main message here is that the BSV blockchain has been built to scale and it can already handle so many more transactions per second than any other blockchain out there. Shore has said in the past that once the ancestor (25 transaction) limit is removed, BSV would be the ultimate blockchain for the gaming industry and ta da! Here we are.
DotWallet Badge services & cards
Continuing on with announcements, in April, DotWallet announced their launch of “Badge,” a new function enabling “Cards” and “Trading Assets” for their users, features that take full advantage of the BSV blockchain’s tokenization capabilities.
Zheming explained how the card tokens are created by third parties and these cards can be exchanged with other users or redeemed for prizes, for example. BSV’s signature low fees are what makes this type of interactive token ecosystem possible.
“The very low fees, that’s very important…they can use the technology to help them to hand over tokens, hand over their own assets to everyone all over the world. So imagine that if the token in the wallet, it can be verified and be spent on the Dragon wallet and other wallets and it can work seamlessly if we make it work,” Zheming said.
“[Operators] can have their own assets to incentivize their users to contribute more. So if the assets created has real value, then that could be used elsewhere,” Zheming pointed out.
Shore added that BitBoss is actively looking at the DotWallet Badge service from two different angles. First of all, it could be a way to entice users to try out their white label partners or to launch into the Dragon Wallet by offering users promotional credits that could be free spins in the slots, for example.
“And then also as Lin alluded to, rewarding players or users for using Dragon, so they would be able to earn points or promotional credits after playing different games and those would then also turn into free spins on slots or perhaps other things,” Shore said.
Shore went on to explain another angle of the DotWallet Badge service. Imagine a “cross app” type of credit, similar to what Gu Lu is doing with Satoplay, a topic covered during our “Casual Games and Esports on the Blockchain” panel at CoinGeek Zurich on June 9. Being able to move the same credits or tokens across different apps could truly open up the ecosystem and provide some creative marketing opportunities for both DotWallet and the apps within their ecosystem.
“So that’s also exciting to us because it’s a way to allow users that are using some other app to try out your app for free,” Shore added.
Exciting times ahead!
At the conclusion of our conversation, when asked to summarize their thoughts, both Shore and Zheming revealed their excitement for the opportunities that lie ahead, only possible using BSV blockchain technology.
“We’re excited with this new integration with DotWallet and I think there’s huge opportunities in front of us. Also, just with the advancements with Bitcoin SV, it continues to be the right blockchain for us to operate an online platform on. It’s leaps and bounds ahead of other blockchains from many different perspectives. So we feel like we made the right choice and we’re super excited,” Shore revealed.
Zheming added, “I think apart from that, we are very eager to introduce Dragon Casino with other applications so we can work together and create more value, more fun for our user. That will, together, we create a much better place for other application developers to consider.”
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