Categories: Bitcoin Business

CoinDirect ICO – Decentralized Fund Management for Casinos

Click here to view original web page at

With the rise in the amount of Bitcoin casinos on the market, users are looking for easier ways to manage their funds. High stake players may not necessarily trust many new casinos with managing their funds since the platforms do not have a reputation that is at stake to keep users funds secure. This is where Coindirect comes in, led by blockchain developer Nico Ami Lee, the open source project aims to decentralize the gambling experience by moving casinos away from managing users’ funds.

Using well established blockchain networks like Bitcoin, Ethereum, and Bitshares, Coindirect’s platform will manage the users’ funds in a transparent and secure way. Today, casinos try to stay transparent by doing so called “Fairness Checks”, but that method depends on the user’s trust of the casino. This gives the power to casinos to hide or withhold critical information from the player. If the casino went the direction of performing independent audits to appease their users, there are unnecessary costs and inconvenience associated with such a method.

Nico Ami Lee, explained the benefits of the upcoming project:

“With such application platform customers can conveniently develop, run, and manage blockchain layer applications without the complexity of building and maintaining the infrastructure typically associated with developing or launching an app. The code execution platform enables developers to build and deploy a decentralized, automatic management of funds into almost any casino application without incurring any start-up costs. Therefore we create a truly transparent and decentralized solution to heavily regulated and relatively conservative market.”

Effectively, by implementing CoinDirect into their platforms, casinos may see the following benefits:

  1. Complete Transparency
  2. Lower fees to players
  3. More control over funds
  4. Instant payouts
  5. Quick direct player to player transfers

The best part is the platform is open source, meaning it can be easily audited for those skeptical in trusting the project with their clients’ funds. The company was established in early 2017 under the legal name “Coin Direct Ltd.” Its headquarters are based in Hong-Kong and it operates with a small team of five.

Currently, the team is in the process of raising money to crowdfund the project. It plans to launch its beta in October 15th, and the presale has started last month (April, 2017). The company is planning to issue tokens on the Bitcoin network which are designed to be used for dividend distribution and voting power on the CoinDirect platform.

Disclaimer: This is a paid press release, the product / service mentioned is not endorsed by The Merkle, always do your own independent research. If you liked this article, follow us on Twitter @themerklenews and make sure to subscribe to our newsletter to receive the latest bitcoin, cryptocurrency, and technology news.


Illuminati, Mason, Anonymous I'll never tell. I can tell you this, global power is shifting and those who have the new intelligence are working to acquire this new force. You matter naught except to yourself, therefore prepare for the least expected and make your place in the new world order.

Disqus Comments Loading...
Published by

Recent Posts

Bitcoin Sheds $10,000 Support Again Ahead of Bakkt Launch

Ahead of the launch of Bakkt’s Bitcoin (BTC) futures, bears have continued to assert control over the cryptocurrency market. Ouch.As… Read More

1 hour ago

Bitcoin ‘Messiah’ Goes To War With The ‘Deep State’

One of bitcoin and crypto's oldest proponents, the founder and former chief executive of U.S. online retailer Overstock, Patrick Byrne,… Read More

1 hour ago

The Specs Behind Bitcoin’s Lightning Pass Their First ‘Formal’ Security Test

A pair of researchers have released the results of a formal verification of bitcoin’s lightning network.Lightning is new(ish), experimental, and… Read More

1 hour ago

Deja Vu 2000 Or Flashback 2007? (Part 2)

“The experience in Japan, Europe, or even the US, is that once you get into a near-zero interest-rate regime, it’s… Read More

7 hours ago

Blockchain Industry to Generate $16 Billion Revenue by 2024

Often considered as a nascent technology, blockchain was introduced about a decade ago. Although the technology has not been around… Read More

7 hours ago

Kate Winslet takes action against Bitcoin scammers who used her image

Kate Winslet has spoken out after her image was used to advertise a Bitcoin scam Movie star Kate Winslet is… Read More

7 hours ago

This website uses cookies. We use these cookies to collect data about your interaction with our website for the purpose of continuously improving your experience with our site. For more information we encourage you to read our privacy policy.

Read More