The PlayChip Foundation Ltd is developing its PlayChip to be at the centre of an incentivised, blockchainenabled, sports community, and gaming ecosystem. Following the implementation of the blockchain enabled PlayChip, holders of the PlayChip will be able to seamlessly transfer funds between the various sites accepting the token through the PlayWallet. They will be able to buy and sell the token directly via our partnered exchange, the PlayXchange. The PlayChip will also be available to trade on other major international exchanges. This will provide a degree of control and security in a manner not seen before in online gaming. The PlayChip is designed to be secure, scalable, and fun, as well as include features to incorporate fairness into PlayChip transactions and the partner gaming platforms, allowing it to become the gaming token of choice globally.
The PlayChip Ecosystem is being developed to capitalize on market opportunity characterized by the following:
• currently no global solution for online gaming platforms to load and cash out gaming chips using reliable and timely methods for transfer to location and location currency.
• currently no solution for movement of gambling funds in a transparent manner, where commissions for gaming and money movement are clearly recorded.
• currently no crypto blockchain solution for gaming funds that incorporate trust and transparency of a blockchain based technology.
• currently no integration to third party gaming environs and third-party crypto exchanges via application programming interfaces (APIs), and blockchain technology.
• need for flexibility in global online gaming to comply with variable regional gaming regulations.
• need for global online gaming that utilises crypto tokens to meet various regional security regulations, and as they develop.
• currently no solution for uniform KYC and AML process, and then input as common set data for backend processes for jurisdictional regulation.
• currently no solution to utilise token metadata or Smart Contracts for current and future regulation applicable to online gaming.
The goal is to design the PlayChip Ecosystem to address these market issues and prove global token of choice for online gaming. The PlayChip Ecosystem should benefit consumers by incentivizing longer play, bigger prizes, and better odds. As the Ecosystem is based on crypto technology it will facilitate instant cash outs and provide greater trust and transparency in the holding and movement of funds.
In delivering PlayChip to gamers, the PlayChip Foundation and partners will benefit by access to global audiences and greater liquidity. The development of the Ecosystem, with well-defined interfaces and operating processes, will lower operating costs and allow game providers access to other services such as seamless online shopping.