Regulators are increasingly using fines to penalise operators who fail to adequately verify, store or report player data. In many markets, this includes being able to prove appropriate management of markets of harm.
Even the most regulated markets in the world, like the UK, have experienced a sharp rise in the number of self-excluded players, especially after multiple lockdowns. Other countries are also reporting more individuals facing gambling related harms than ever before.
Poor quality data is not only a financial risk, it can also severely impact the productivity of an organisation. Forrester reported that 1/3 of analysts spends 40% of their time vetting and validating data before it can be used (Source: Forrester). However, insights derived from consistent data become the backbone of value-creating business decisions.
Kensei is a different approach to the data integrity problem. A blockchain-based platform, Kensei allows organisations to establish and maintain data consistency over its entire lifecycle.
Verifying consistent data is your insurance policy. It protects your organisation’s reputation and against regulatory compliance measures.
Regulators have been clear: operators need to proactively prevents players from developing gambling problems. This includes correctly assessing a players’ gaming affordability and ensuring excluded players are managed responsibly.
Using our data integrity platform, Kensei, you as an operator can undeniably prove a commitment to responsible gaming, manage risk and gain a competitive advantage.
Kensei, a data integrity platform supports responsible Gaming and AML with 3 core products, forming a completed integrated solution for iGaming.
One of the challenges within the gambling industry is achieving a single player view. A single player view will improve an operators ability to correctly identify and monitor players. Using blockchain technology, our goal is to deliver a solution that supports player wellbeing and regulatory compliance.
A holistic view of any problem gamblers across operators will reduce the risk of player harm. Some players hold multiple accounts with multiple operators increasing the difficulty to prove an operator is in compliance with their regulatory requirements.
Working with industry partners, regulatory bodies and operators, we envisage a safer, more socially responsible gaming sector.
Watch our recent webinar from March 2022, featuring the nChain Team; Nick Hill, Sales Director and Ai Ishii, Business Development, in partnership with Crucial Compliance, W2, Becky Liggero from CoinGeek and hosted by iGaming Business.
What you will learn:
Crucial Compliance offers consultancy and software solutions for online gaming firms to help them adhere to Europe’s strict gambling regulations.
Advanced Markers of Harm in order to determine whether a player is deemed at risk of suffering Gambling Related Harm. Recently, Crucial Compliance has begun integrating Kensei to decentralise their player behaviour logs and give international regulators a trustless, fully auditable way to ensure gaming firms are giving the appropriate attention and care to players.
“We investigated a number of proposed blockchain-based solutions”, said Paul Foster, Crucial Compliance CEO, “but we quickly realised that scalability was the most critical bottleneck. Collectively, our customers have more than a million active users, which represents a daily transaction volume that is greater than most protocols can handle in a month. Kensei was the only solution that could operate at our scale. For responsible gaming, Kensei is the only responsible choice.”
For Crucial Compliance, Kensei Connect is used to generate tamper-proof audit logs of timestamped data, which highlight for regulators user behaviour, deviations from standard play and other key metrics. All of this is done cryptographically and provably without revealing the personal data of any user.