nChain Announces Agreement With Crucial Compliance
Integration with nChain's Kensei platform will bring much-needed data integrity to gaming and will significantly reduce regulatory risk exposure for operators
STEINHAUSEN, Switzerland, Oct. 04, 2021 (GLOBE NEWSWIRE) - nChain AG ("nChain" or "the Company") today announced it entered into an agreement whereby Crucial Compliance Limited (Crucial Compliance), a provider of compliance and software solutions to the online gaming industry, will engage Kensei, the Company's blockchain interface platform. Integration with Kensei will enhance Crucial Compliance's existing Crucial Player Protection ("CPP") system, which monitors player behaviour to ensure player protection from gambling-related harm.
Kensei, launched in July 2021, provides a powerful set of APIs that allow seamless integration between a customer's existing data management processes and the BSV blockchain. Kensei eliminates the need for complex blockchain development, thus developers can focus on their core expertise while simultaneously enhancing their offering with data integrity characteristics such as a tamper-proof audit log.
CPP tracks and logs key events in player behaviour, which are then used to create a hard history of player review, interaction, and intervention throughout the customer lifecycle. By leveraging Kensei, CPP will offer a secure and cost-effective solution that creates an independently verifiable log of key actions and interactions, which will comply with the drive for data integrity from international regulators.
The auditable and immutable record of timestamped data provided by Kensei integration will increase a gaming operator's confidence when replying to requests to prove they have discharged their responsibilities. In addition, it provides an irrefutable evidence base for an operator to challenge alleged breaches of their license conditions and/or defend against litigation.
"We are excited to partner with Crucial Compliance to bring data integrity to the online gaming industry's responsible gaming efforts," said David Washburn, nChain's Chief Executive Officer. "Kensei enables tamper-proof data notarization, which is critical for gaming operators to prove they are acting responsibly and in line with all regulatory requirements. The addition of data integrity capabilities offered by Kensei requires no change to an operator's existing workflow so provides an attractive solution to the challenges faced by the industry."
"This is a marked step-change for the gaming industry, using relatively new but proven technology in a way to mitigate corporate risk and also to give regulators peace of mind that what they are shown is absolute and undeniable," said Paul Foster, Crucial Compliance's Chief Executive Officer. "Partnering with nChain allows us to offer a cost-effective solution for gaming operators and to provide regulators a single undeniable version of the truth, eventually across all operators."
Crucial Compliance will work with existing customers and regulators to bring Kensei-enabled data integrity to responsible gaming activities.
Founded in 2015, nChain advances the potential of blockchain technology through ongoing research and development of patentable inventions and through offering commercial solutions such as Kensei, a developer-friendly blockchain interface. Kensei is designed to drive adoption of blockchain by removing the complexities in creating and verifying tamper-evident data and processes. nChain also owns the CREA (business process management) and EqualEyes (mobile and web development) brands which complement its core blockchain expertise. nChain provides robust data consistency offerings that help organizations and developers of all sizes achieve their goals.