As Bitcoin grows in popularity and users, Hungarian startup Bits of Proof has launched the world’s first Bitcoin merchant solution integrated for both the web and mobile. This could pave the way for online casinos in Hungary and elsewhere to devise new mobile casinos that accept Bitcoins.
BopShop works by generating a unique address – thanks to advanced HD BIP32 key generation software – for every sale. This means that each transaction is extremely secure. What’s more, Bits of Proof has no access to any stage of the transaction process: it is completely private between the merchant and customer.
With complicated Hungarian gambling laws causing consternation, this is welcome news for the sector and for financial transactions as a whole. With Bitcoins poised to grow – more than 11 million Bitcoins have so far been created – this is the perfect time to take advantage.
Speaking at the launch, Bits of Proof CEO Tamas Blummer revealed his thoughts: “This event is a milestone for the Bitcoin community, not only in business terms, but in social terms: this pilot project restores our civil right for the transmission of money person-to-person using current level of technology, yet without unintended amenabilities.”
This isn’t just gambling news, but its impact could be keenest felt in this sector. With the number of Bitcoin casinos, sportsbooks and poker sites expanding every week, this gives a great opportunity for developers to make something special out of the platform.
Bits of Proof are a Hungarian startup dedicated to taking advantage of the Bitcoin protocol to develop value added services on the peer-to-peer payment system. The Bitcoin system is seen as a way to gain freedom from government influence: the virtual currency is regulated by software and is therefore free from outside influence. As such, it could prove to be a useful and popular tool for online and mobile casinos.