Cash Poker Pro democratizes online gambling with its Ethereum blockchain-based poker room platform. The platform makes use of smart contracts to support the development of a fair and sustainable gaming and gambling industry, where everyone gets rewarded for their contribution.
Today we have the chance to interview Mr. Prozorov Danila, CEO at Cash Poker Pro, and ask him more about the project.
Hi Danila, what is the role of cryptocurrencies and blockchain in online gambling?
Today, the vast majority of online casinos use the system in which users make deposits but cannot withdraw their money if they do not play. This infringes players’ rights as they are not given full control of their funds. Players may have problem withdrawing their funds from the system due to various reasons. For example, they might not have played enough rounds in order to be given their money back, or they cannot prove that their deposit is legitimate, or they become accused of cheating, or the casino closes. And this situation is not accidental.
Firstly, online casinos are subject to laws on money laundering. Such regulations are present in all jurisdictions and require that the operator (the online casino) should make sure that money deposited by a user is not of illegal origin before transferring it to the user’s account. Secondly, all online casinos use traditional means of payment such as electronic wallets and bank transfers, which are subject to the legislation of the countries where the processing centers are located. As a result, casinos charge fees for payment processing, currency conversion etc., and the amount of fees is usually quite big. The average fee for transferring money to the user’s account is more than 8% of the amount of the deposit, and the average withdrawal fee is more than 2% thereof. In the beginning, users do not see the amount of fee they will have to pay for money withdrawal. This is a disadvantage for users, but casinos have to use this system because it gives them protection from losses. Thirdly, the system of deposits gives casinos a particular advantage as they effectively turn into banks and can use users’ deposits for their own commercial purposes. Thus, it is the user who suffers most under the existing system. However, online casinos suffer too as they have to deal with huge mistrust on the part of players.
In this situation, only big players who have huge financial and administrative assets can enjoy any benefits.
Also, one of the most significant problems is the fact that online systems use centralized random number generators which are susceptible to external influences. In other words, the owner of an online system can influence the gaming process and its results because they have access to the server and the program code, which causes mistrust on the part of users. Users who make huge bets become particularly vulnerable in this situation.
We believe that the best solution to this problem is to use a decentralized platform for fast deposit and withdrawal of funds with blockchain-based authentication.
With the help of an anonymous cryptocurrency wallet, the user will be able to play poker online without making a deposit or waiting until a deposit or withdrawal operation is approved by the system. Everything will be done in one click!
Can you talk more about the team and key partners?
Our team has more than 10 years of experience in the gambling and entertainment industry. In addition, we have more than 5 years of experience in the field of online products.
Our talented team includes professionals from the fields of programming, marketing, advertising, and law.
Danila Prozorov (CEO) – serial entrepreneur since 2000, founder of trade marks х3 mobile accessories (mobile accessories TOP 5 in Russia) , ArmadA (ATV and scooters).
Yaroslav Dementev (COO) – serial entrepreneur since 2000, management of international projects for increasing company profitability.
Kir Lyznikov – (CMO) – Serial entrepreneur since 2003 with experience in marketing, finance and management. Managing Partner and Marketing Director at several international entertainment projects (Russia, UAE, Mauritius). CEO at Dodo Entertainment.
Natalia Deksbakh (Marketing manager) – Professional photographer and marketing expert. Winner of several international photo contests. Participant in international photo exhibitions. CEO at Deksbakh Collection, Deksa.
Elena Bogdanova (Lawyer) – More than 17 years of experience in legal matters. Senior Legal Counsel and Compliance Manager at GROHE. Provider of legal services for Russian subsidiaries of foreign companies (Wella, Peugeot, Knauf Insulation).
Maxim Ustinuk (lawyer) – Experience in legal matters since 1999. Deputy Chairman at Zaschita Moscow Bar Association.
Roman Dobrik (UX/UI Designer)
Tolya Yanot ( CTO) – CTO Cash Poker Pro electronic poker tables, CTO live-casino Golden Dragon, worked on mobile app Word Poker Club (#1 in East Europe), built some social games with millions of players.
Dmitry Polovalkin (Protocol Architect) – hardcore backend developer. High performance backend solutions for online games. Cryptographic Engineer. Smart contract developer. Worked on projects: Overkings MMORPG, Honest War Multiplayer RTS, live-casino Golden Dragon, CryptoSlots.
Alexander Shniperson – Senior Backend and Frontend Developer.
We are glad to announce that we made an agreement with Russian and CIS top 5 online /offline betting and gambling companies to integrate our online poker room to their platforms once its ready.
Stavkabet – betting company (TOP 5 in Kazakhstan )
Leman – betting company (TOP 5 in Kazakhstan)
Imperium- games – online betting and gambling More then 1million users all over the word
Bingo Boom – lottery solutions (TOP-1 in Russia)
1x-bet – betting company (TOP 5 in Russia)
It will attract over 2.000.000 new players all over Russia an CIS countries.
There are hundreds of Bitcoin casinos and gambling websites out there that offer a range of games for enthusiasts, why Cash Poker Pro is better?
We understand that it is difficult to start a revolution in the online gambling industry. It is necessary to find a market niche in which our advantages will be in demand.
Having carefully analyzed the history of online gambling and the distribution of the spheres of influence of famous manufacturers, we have found an unoccupied niche, which comes in the form of messengers.
Messengers are becoming more and more popular among users just the way it happened with social networks some time ago. Every day the number of people using messengers is growing.
People use them for communication, reading news, playing games, and also making purchases.
The most popular messengers are multifunctional messengers with reliable data security.
The primary objective of our project is to bring an online poker room for messengers (WhatsApp, Telegram, Facebook) to the market. In June 2017, Telegram announced the launch of its own payment system. This gives online game designers the opportunity to monetize their projects. This is an unoccupied niche, which gives start-ups like ours a chance to find customers among more than 100 million users.
The 26th of October 2017 the ICO will start and 60 million CASH tokens will be sold during this phase. What does your roadmap take into account as next steps?
The funds raised during this stage will be used to develop and launch the platform, market the product on a global scale, create a technical support department, pay for contextual advertising, and attract starts to promote the product. 60 million CASH tokens will be sold during the ICO, following this structure:
26 th of October Next 20,000,000 CASH –1CASH = $0.40.
31 st of October 10 000 000 CASH –1CASH = $0.43.
5 th of November 10 000 000 CASH -1CASH =$0.46.
10 th of November 10 000 000 CASH -1CASH =$0,49.
14 th of November 10 000 000 CASH -1CASH=$0,52
After 18 th of November 1CASH = $1
Final questions: when will you issue the tokens and when they will be tradable on exchanges?
After ICO we will have agreements with exchanges. Also don’t forget that tokens CASH are game currency.
Moreover, being a cryptocurrency, CASH tokens are an excellent investment tool because:
1. the amount of Cash Poker Pro poker room tokens is limited from the very beginning;
2. the CASH token is pegged to BTC, ETH, WAVES rates, which have been showing a steady
growth over the past years.
Great, thanks you Danila for these very exaustive answers! If you need further information read Cash Poker Pro Whitepaper.
Remember, the Cash Poker Pro pre-ICO will be launched in 5 days. Join it here.