A payment solution for the land-based properties and online, the Malta Gaming Authority (MGA) has taken a step. They have introduced cryptocurrency to solve this issue. The Sandbox Framework is currently used as a pilot project.
Testing the Cryptocurrency
Security solutions and new payment options are explored as the chance to embrace gambling in a new way. They have introduced this Sandbox framework to serve the real-time purpose.
Cryptocurrency is overexpanding, and according to them, the financial gateway of their platform can be secured by it. Both customers and operators will be benefitted. This is the second time of testing cryptocurrency in their platform.
The test began on the 1st January 2019, which introduced Distributed Ledger Technology (DLT) to execute all the transactions. To the next step of this enterprise will be moved soon when this part will be successful.
Blockchain assets are included in these tests to control the environment, and this will support MGA to remove the possible complications that can raise risk among the businesses or customers.
To assess, the dangers regarding gambling industry even deeper will be gone by MGA, especially to find out financial issues. To become a part of this initiative, interested businesses can apply using the portal of MGA and can make them familiarized with the Licensee Relationship Management System (LRMS). The official website of the LRMS can be used to get all the information which is already uploaded in the website.
More importantly, to increase the trustworthiness of gambling from the cross-platform devices, MGA stresses on the improvement of the financial structures.