So let me try to clarify our current stance or views on things,
As of right now we have looked into the legalities of online gambling with virtual currencies such as Bitcoin and what some of the bigger Bitcoin casinos use. Namely what we've looked into is offshore registration for the company mainly dealing with Jewels in Costa Rica or other similar countries typically used for these sort of operations. This seems to be a popular choice as it's reasonably priced and obtaining a gambling license there doesn't seem as difficult as in the North America or Europe. The restrictions we need to impose with a Costa Rican gambling license isn't that bad either. It's worth noting, since we're not gambling with Bitcoin or fiat it's less likely a legal authority will pursue us
but we want all of our bases covered.On the note of smart contracts, I personally have looked into Etherum but have not had much chance to experiment with or learn Solidity although it seems like a fairly straight forward language. While at this time I'm not 100% sure about everything gambling related being able to fit under a smart contracts it is an idea we're open to. I'm aware of the fact that we can utilize an Etherum token stored in a smart contract and effectively do an asset swap when we're ready to pursue the smart contract route. I'd like to stress though with the recent incident of the DAO it's clear that this route is something that
should not be rushed so we see this more as an end-game idea. Definitely we will need to consult with parties who are more familiar with Solidity and smart contract development to ensure we don't unleash another disaster like that.
If you know anyone who's had some decent experience with Solidity and Etherum, I'd love to have a chat with them so please encourage them to email us at [email protected] or better yet reach out to us via Slack. This should help clear up some of your questions freequant and for anyone else curious let me know if I've missed anything.
thanks for your update dev.
what is reasonably priced for company registration?
i see that the provably fair gambling comes sometime after the release of the game and you have already looked for avenues to protect yourself and us, that is very good to see as an investor in jewels.
having all bases covered is the work of good projects.
while i first thought freequant was fudding, he asks good and legit questions and is exactly what projects like this need.
good community that works for the better of their investment, i see some got worried and made light of the situation but overall i am happy with your answer and would like to hear more about the possibility of using smart-contracts in the future.
either way, whatever route you choose i believe it will be worthwhile protecing yourself and jewels.