The government of Curaçao, a Dutch Caribbean island with a regulated casino industry, has approved Edgeless as a licensed casino operator. Edgeless is a decentralized application built on the Ethereum
The government of Curaçao, a Dutch Caribbean island with a regulated casino industry, has approved Edgeless as a licensed casino operator. Edgeless is a decentralized application built on the Ethereum blockchain. This marks the first time a casino of this type has won regulatory approval in an established, regulated gambling market.
Thomas Draksas founded Edgeless. On the license, he said: "Curacao license is a good starting point which enables us to compete with traditional online casinos, however, we are not finished yet. The crypto and gambling field is evolving really fast including legalities. Our legal team will be working on acquiring more licenses in the near future and strengthening Edgeless legal base."
The approval grants Edgeless entry to global gambling markets, credibility within the traditional casino industry, and partnerships with exchanges, banks, and payment providers. Draksas stressed the importance of working alongside regulators. He added: "In general, working hand in hand with legal authorities and being fully regulated is necessary for the growth of business, especially in areas such as crypto or gambling." Know Your Customer (KYC) and Anti-Money Laundering (AML) compliance, he emphasized, remain non-negotiable for businesses in both sectors.
The momentum behind decentralized applications extends beyond casino games. Fred Ehrsam, who co-founded Coinbase, discussed this shift in September. As Ethereum's network grows, he explained, decentralized applications will process larger transaction volumes. Within the Ethereum community, investors and users have focused on one goal: decentralized exchanges where traders can move digital assets without intermediaries.
Two applications have shown what's possible. CryptoKitties and EtherDelta demonstrated that decentralized asset trading works. These platforms offer something centralized exchanges cannot provide: they keep users in full control of their money, which brings more security and privacy. Ehrsam said: "There are a few obvious benefits to decentralized exchanges. First, they allow you to remain in control of your funds. So no risk of the exchange being hacked or going insolvent. This can lead to higher liquidity, as users may be willing to leave orders open on the orderbook for longer when counterparty risk is gone."
Edgeless operates under the same principle. Players retain complete control of their assets without having to trust Edgeless or any financial intermediaries to safeguard their money.
