RouletteToken News

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SmartPlay.Tech team apologizes for the confusion surrounding the news about the agreement with a company named SJM Holding, and the delay in providing the entire information regarding the situation. We were investigating the scenario from our end, and had to spend some time to think about our strategy going forward.

Earlier, we had been approached by a certain individual claiming to be a representative of a company called SJM Holding, who seemed to be interested in going into an agreement involving our SmartBox slot machine. As none of the SmartPlay.Tech core team members are native english speakers, we had relied on one of our employees with english speaking skills, to work with the representative on this matter.

The same employee was in touch with the said representative of SJM Holding, in all communications regarding the agreement, and was also one of the team members in charge of managing our various social media accounts. The particular employee, after meeting the representative of the company, went ahead and published a press release (HK01), without discussing the details of the agreement with the core SmartPlay.Tech team.

A few days after the press release, a firm that goes by the name SJM Holdings Limited, published a disclaimer on their website that they were not associated with SmartPlay.Tech in any way. When our core team conducted an enquiry, the particular employee (who was involved in the agreement with SJM Holding) assured us that it was in fact a different, smaller company which was interested in an agreement with us.

This incident raised questions within the core team about the authenticity of the particular employee, and further investigation into the matter, couldn’t reveal any solid evidence to suggest that the representative, who was involved in the agreement with our employee, had any association with a company called SJM Holding (if such a company exists at all).

Following the investigation, many of the employees, who were not a part of the core SmartPlay.Tech team, have been replaced, including the particular employee who was involved in the entire situation.

But, no matter how hard we try to justify the situation, the damage has been done. We understand that we may have lost the trust within the members of this community, and we deeply apologize for it. To those who have still decided to continue backing us, despite the particular incident, we are really thankful!

Looking back at the entire episode, we realize that the anonymity of the SmartPlay.Tech team also played a significant role in showing us in a negative light. It was also because of the anonymity of the team that the particular (ex) employee was able to take certain steps, which would otherwise be detrimental to his reputation. We have learned from our mistakes, and we want to ensure that such an incident doesn’t repeat again.

That is why, in addition to the changes in the team, we have also decided to reveal the identity of the team members. And we have been consulting with our legal unit, to come up with the best way to do this.

To avoid problems with the authorities, our team needs to legalize our game solution, by obtaining a license for online games. To implement this, we have spent some time researching the possibility of obtaining gaming licenses in various jurisdictions, and also conducted negotiations regarding the same, at the recent Russian Gaming Week. The cost of such licensing is estimated to be about $30,000.

At the same time, we also want to make RLT available to the masses. Most of the exchanges these days, are charging a high fee, in order to get listed.

We plan to conduct a token sale on the SmartPlay.Tech website, out of a portion of the RLT reserved for our bounty program, at a price that is higher than RLT’s current rate in exchanges. The funds collected from the token sale will primarily be used to cover the required licensing costs, and also to pay for the listing fees in new exchanges. More information on the token sale will be available soon.

With this, we are not only strengthening our technical solution, but also changing our relationship with users and investors. We intend to embrace a new team philosophy, which is to be as transparent and honest, as our gaming solution itself.

Thank you for your understanding, and hope you’ll support the new course of our team!

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June 7 and 8 saw the largest exhibition of the gambling industry in Russia - the Russian Gaming Week - which took place in Moscow. It included renowned speakers from Russia and abroad, who discussed on the most topical issues of the gambling market, as well as presentations of the most innovative gaming solutions and products from leading game developers. The participants of the event experienced more than 20 presentations covering a wide range of themes.

The SmartPlay.tech team was fortunate enough to be a part of the event, and talk about our gaming solution - European Blockchain Roulette. Our technical solution to create an in-game token system for gambling based on the Blockchain aroused genuine interest among the other participants. The concept of using cryptocurrency for gambling in Russia is increasingly gaining popularity, especially due to the strict local legislative regulations being enforced in this domain.

Our team had the opportunity to highlight 5 major proposals around the development and investment in our project, as well as its implementation in existing casinos. The good news is that several companies are interested, and we are actively negotiating with them about these proposals. We will inform you as soon as we reach any agreement, so stay tuned for further updates.

Additionally, the event gave us an opportunity to understand the current state of the market, as well as an insight into the relevant games that providers would like to launch. One of the most interesting suggestions was to implement our gaming technology to create a Blockchain-based multiplayer Poker game. It's great to see an already noticeable demand for practical applications of Blockchain in the gambling industry, and we'll certainly spend time to think about how we can bring Poker (and other breakthrough implementations of Blockchain) to the gambling market.

Most importantly, as a result of the event, our team got prominent media coverage, especially on RBC (the largest business TV-channel in Russia), which dedicated a part of its story to our story. You can check out the video of the story here. For our English audience, we will try to upload the same video on YouTube with English subtitles.

Join us for more news on one of the most ambitious projects of the gaming industry, and never miss an update!

Last month, the main focus of the SmartPlay.Tech team had been on updating our token policy, so that SEC’s regulations don’t come in the way of RLT’s progress.

As such, we considered changing several key features of RLT token in order to prevent potential conflicts in the future.

RLT is mainly used as an in-game token for playing various games on the SmartPlay.Tech platform. For example, it is now utilized for playing “European roulette” on Smartroulette.io. It could also be utilized for accessing several apps and services on the platform. Hence, RLT serves as a utility token.

Additionally, users can also exchange RLT in supported Exchanges, such as Livecoin, YoBit, etc., so the tokens aren’t just locked in within the platform.

We’d like to inform here that during the ICO phase, we did not accept any deposits from countries with strong securities regulatory bodies, such as U.S. and Canada.

Moreover, we’ve now made changes to our loyalty program, where the in-game rewards (in the form of RLT tokens) are directly dependent on the user activities, rather than being a regular dividend payout. Hence, this system is now a rewards-based loyalty program, which is not subject to any sort of regulation.

Note: As of now, we have discontinued the old rewards system. This new loyalty program is currently under development, and will be rolled out in some time.

One of our major goals is to make our platform accessible to everyone, including the people in the U.S. and Canada. By implementing these changes, we hope to introduce RLT in some of the biggest crypto-exchanges, and in the process, make it accessible to the masses.

There’s another piece of information that we’d like to share. We are planning to participate in the Russian Gaming Week on June 7th and 8th, 2018, where we’ll get a chance to meet with potential partners and promote our blockchain-based game solutions. This will also enable us to learn more about the current trends, as well as gaining insight on target customers, which in turn will help us to fine tune the upcoming tasks in our roadmap.

Stay in touch for the latest news and updates from SmartPlay.Tech!

Our team continues our work on the listing of RLT token to large trading platforms. And as it was already mentioned, this work requires the token to be as legitimate as possible, therefore, to meet the requirements of being a pure utility token.

Today, as a part of this work we present you a new loyalty program for Blockchain and Win-Win roulette players. The main focus of this program, we will be on the promotion of the games - the more you play, the more bonuses you can get!

The main change required by the SEC and which is a prerequisite for the listing on large exchanges, concerns bonus payments. With the change of the bonus program, we will pay a reward for the activity of players on any of our games. Each player must have at least 5 bets in latest 3 months to get his reward. In addition to that, a player must have a minimum of 1000 RLT token in their wallet, in order to receive the loyalty bonus.

So, even if you lose, part of your loss might be compensated with the loyalty bonus! And if you win, your winnings will be even greater!

Thus, roulette will become even more interesting for every player. Follow us on Twitter, Facebook and Telegram to get the latest updates from SmartPlay.tech.