Making iGaming payments work through blockchain

Friday 1st of November 2019

Filipino boxing legend Manny Pacquiao’s official slot game, Pacquiao One Punch KO, created by Japanese iGaming developer Ganapati PLC, went live last month, leaving quite an impression.

As a tribute to the boxing champion, Ganapati is eager to establish themselves with their first global branded game, a high-impact slot set on a Tokyo rooftop boxing ring, with cascading reels and exciting bonus rounds. In recent years, the international company has managed to position itself as one of the leading online slot providers in the iGaming space.

Over the past two years, Ganapati has found global success with offices in Tokyo, Taiwan, Malta, Estonia, and London. The European side of the business, based in Malta, has an MGA-issued B2B - Critical Supply Licence, which has allowed Ganapati Malta to supply European markets with remarkable online slot games that merge its Japanese heritage with the traditional iGaming experience.

It comes as little or no surprise that Ganapati’s success is not slowing down, with more iGaming projects coming up and key innovations set to disrupt the online casino industry. One such disruption is the revolutionary GanaEight Coin (G8C) – a solution and subsidiary business that the iGaming developer has set up and been working on since 2018.

G8C’s mission is to fix a lack of transparency in the online casino world. Online gambling has at times been criticized for the lack of transparency which in the past has left unsuspecting players feeling as though they are vulnerable to hacks and unfair play. Typically, the online gambling industry does not offer players any security or a way of verifying the authenticity of a gambling site.

G8C was set up to fix this problem and find a global solution for online casino platforms – and that solution is blockchain technology. As well as a blockchain platform, G8C also offers a stablecoin and a payment solution. By launching these components, the aim is to achieve a key innovation in how payments work within the iGaming sector. Introducing a stablecoin will streamline the iGaming experience for everyone involved in the industry.

G8C, the “anti-ICO”, is an extraordinary method of creating value through blockchain. G8C offers a drastic change in how payments are usually made within the iGaming space. The stablecoin is designed to make operations run smoothly – created for the iGaming community, the G8C token provides an integrated, secure and cheaper experience for every player, operator, supplier and even the middleman in the iGaming eco-system.

In the past, when players used a standard betting token or cryptocurrency such as bitcoin, they needed to be careful when ‘cashing-out’ and ensure that the value of the token or crypto of their choice did not drop. With Ganapati’s pioneering payment solution, such barriers will become a thing of the past. This is because the G8C token is a stablecoin, which offers price stability as it is pegged to a real asset. The G8C stablecoin is distinctively different to other betting coins seen in the market, as its value does not fluctuate.

The use of the stablecoins in online casinos will allow players and businesses to cash out their tokens without having to go through the complex procedure of having to first check the ever-fluctuating crypto market and then processing an exchange. G8C decreases the risk for players, which essentially provides an easier way to pay. Furthermore, as the G8C is a blockchain-based payment token, players won’t have to pay any transaction fees, all the while maintaining high payment security.

By using blockchain in online gambling, there will be no confusion in the rules and regulations, and instant pay-outs become the norm. The Ganapati Group is making use of its industry relationships and wide range of experience to introduce a completely new concept to online casinos. One of the first stablecoins of its kind in the iGaming industry, with no concerns about gambling sites withholding winnings and no fluctuating prices in the market, G8C stands out amongst the crowd. It’s unique, pioneering and innovative blockchain solution will improve and provide a well-trusted iGaming ecosystem for all.