We sat down with FortuneJack CEO, Boris Kiknadze, to talk about Bitcoin, gambling and what we can expect from the industry in the future. FortuneJack are one of the most recognized Bitcoin casino brands and the interview was hugely insightful. We found the conversation fascinating and hope you do too!
TBS: FortuneJack were one of the first Bitcoin casinos on the scene. Can you describe the moment that spurred you to become one of the pioneers in this industry?
BK: Back in the day, virtual money wasn’t very popular with the masses, but we believed that it would become a revolutionary technology of the future. All the advantages of Bitcoin were obvious from the get go and true enthusiasts of crypto knew about those benefits, just like we did. The opportunities provided by the technology were too good to pass and after thoughtful and careful consideration we decided to double down on this amazing concept. As the years went by we grew exponentially larger within the crypto community and FortuneJack has garnered an impressive fanbase of like-minded blockchain enthusiasts. Today our Casino has more than 2000 Available games, developed by the best software providers in the industry, supporting various different types of gambling such as: Slots, Table Games, Live Casino, Sports Betting, E-Sports and of course Provably Fair Games.
TBS: The Bitcoin market has been treated with skepticism in the past, how do you break this preconception and convince mainstream players to use crypto?
BK: It’s the undisputed truth that when a new technology emerges, it’s always treated with scrutiny and Bitcoin was no exception. There are usually logical reasons behind the skepticism and in case of cryptocurrencies the main one was the subject of decentralization, which garnered total freedom from any type of financial institution. Bitcoin and other virtual currencies had a history of being volatile, with the price fluctuating dramatically within the short-term periods. Although those factors are undeniably something to consider, I believe that we must primarily recognize the advantages first.
If we look at the events currently happening around the world, Bitcoin has proven itself to be the most stable asset on the market. While everything else is losing value, the BTC price is rising year on year. On top of this, blockchain technology provides advanced speeds compared to the fiat solutions. Also, it revolves around superior security and privacy measures, as well as benefits of anonymity. Basically, I believe that cryptocurrencies are better in most of the aspects compared to the competition.
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TBS: FortuneJack has been famous for adopting many different cryptocurrencies. Which ones are next and do you have plans to include stablecoins?
BK: When FortuneJack was just starting to operate we were solely dependent on Bitcoin as our payment currency. As time progressed we started to add more options into our financial system. The popularity of cryptocurrencies grew each year and new financial entities started to show up on the international market, that’s why we followed the trend and started to introduce currencies like Ethereum and Litecoin.
At this moment FortuneJack operates with 9 cryptocurrencies, these are: Bitcoin, Bitcoin Cash, Ethereum, Litecoin, Dogecoin, ZCash, Tron, Dash and Monero. As far as the future goes, we’re looking forward to the introduction of Libra as our payment option once it becomes available to the general population. When considering the addition of cryptocurrencies, we always listen to our community. If there is a virtual currency that’s gaining popularity within our fanbase, we usually imminently try to provide it as the payment option as soon as we possibly can.
TBS: Where are crypto casinos on the growth curve? What are the main trends that suggest there is more growth ahead?
BK: I can tell you for a fact that crypto casinos are gaining more popularity every single day. This is an undeniable trend. With the popularization of blockchain technology and cryptocurrencies, the likes of FortuneJack reap the rewards as well. There’s a definite upward slope when it comes to player quantity and traffic on our website and I’m sure our counterparts are enjoying the same success as we speak. Considering what’s happening right now in the world, there’s only going to be growth ahead of us. Today people are confined to their homes due to the requirements of self-isolation and enthusiasts who enjoy responsible gambling are flocking to the gaming websites. Aside from that, Bitcoin is going strong and is proving itself to be more stable than any other asset in the world. People have started to view Bitcoin Gambling as somewhat of an investment possibility.
TBS: How do Bitcoin/crypto players differ from mainstream casino and sports bettors?
BK: Although we are fairly similar to our competition in the mainstream gambling and sport betting division, there are still many major differences between us. The main thing differentiating FortuneJack and similar crypto-casinos from our conventional counterparts is everything that blockchain technology brings to the table. I personally believe that we are superior to traditional online casinos in almost all the aspects that a successful gambling website requires. Through blockchain and cryptocurrencies, FortuneJack boasts blistering speed of transactions. Using the likes of Bitcoin as the payment option provides players with the opportunity to deposit and withdraw money within a matter of minutes. We are also superior when it comes to the question of security. Tampering with blockchain technology is widely regarded to be almost impossible. At the same time our players maintain their guaranteed privacy and anonymity when gambling on our website.
Perhaps the biggest advantage we have over any type of competition is the fact that we can undeniably prove our games to be absolutely fair, thanks to the Provably Fair technology based on the blockchain design. With Provably Fair games, players won’t ever have to worry about the question of fairness and validity, because this system provides detailed information about the gameplay and it’s simply impossible to rig or hack in any way. This is the “bridge” that we use to ensure the total trust within our community of players.
TBS: What are you most excited for in 2020?
BK: There are many things to be excited about as the CEO of one of the most successful Crypto Casinos in the world. First and foremost, I should start with the fact that we just launched our brand-new website which is currently operating in the “beta” mode, but will be fully operational by the end of the month. My team has just finished adding E-Sports tournaments to our SportsBook section, which will be an amazing alternative to currently suspended international sports. We’ll be providing popular E-Sports games such as CS:GO, Dota 2, League of Legends, StarCraft and infinitely more. We’re also completing the process of introduction of our very own, freshly renovated DICE game, that’s going to be a FortuneJack exclusive, provided only with the Provably Fair technology to guarantee the absolute fairness of the game. All this is just a fraction of upcoming updates at FortuneJack.
As far as the external factors go, I’m very excited to see where the BTC Halving will take us. I believe that this event will increase the price and the adoption of Bitcoin and other cryptocurrencies, while at the same time lessening their tendencies to be volatile. I’m hoping and looking forward to the rest of 2020 to be successful for everyone, regardless of the unflattering first months that the general population of our planet has experienced.
TBS: Thank you for taking the time to speak to us today and we wish you and FortuneJack the best of luck for the future!
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