Cammegh and CasinoCoin
The Roulette wheel was invented by a French physicist and inventor named Blaise Pascal. Pascal was trying to invent a perpetual motion machine. It’s a machine that continues to operate without drawing energy from an external source. He ultimately did not achieve his goal, but in turn, created what is one of the most popular casino games of all time.
Fast forward to today, and you will find it quite hard to enter the casino floor without seeing a roulette wheel at least somewhere within the building. I’m sure many stories have been told, many fortunes won and lost, and many bonds forged with strangers from the simple bet of a ball dropping in the right spot. Creating this experience is something that happens in the atmosphere of the casino floor, but also with the wheel itself. Trusting the validity, fairness, and process of the wheel is essential to the experience. This is where Cammegh, the leading roulette manufacturer of the world, comes into play.
Who Is Cammegh?
Cammegh LTD is based out of Bethersden, England having specialized in the manufacture of roulette wheels for 30 years. Cammegh has developed a deep knowledge of both the established and evolving demands of roulette. They manufacture many different products including roulette wheels, billboard displays, 5 different side bet options, casino software management systems, card tables, roulette tables, and gaming chips. You can find all of this information in their brochure here: (http://www.cammegh.com/files/Cammegh_Brochure.pdf).
Cammegh have been given many different distinguishing awards including Outstanding Contribution, Traditional Gaming Equipment Design, Innovation, Traditional Casino Equipment supplier, and Eco Friendly Company, all from the distinguished International Gaming Awards (IGA). They supply some of the biggest names in the industry including Caesars Entertainment, Royal Caribbean Cruises, Aspers Group, Novomatic, Grosvenor and many more. Having this kind of market share shows how well Cammegh is regarded in the gambling community.
Cammegh is known to lead the way in roulette wheel security and integrity, while having an enviable worldwide reputation for continual research and development, outstanding customer service, and engineering excellence. This hunger for excellence paved the way for Cammegh to adopt blockchain technology in CasinoCoin, and to make their already superior product even more so.
CAM Token and CasinoCoin
Cammegh Launched their own closed loop token (CAM) on top of the CasinoCoin Ledger utilizing their tech for an immutable data ledger.
“We are fortunate to have teamed up with the CasinoCoin Foundation, whose blockchain technology and global understanding of the gaming industry will help deliver the products and a level of service the industry and regulators will demand in the future.” -Richard Cammegh
Here is more on CasinoCoin: (https://casinocoin.org/doc/CasinoCoin_Presentation_en.pdf)
Why I invested: (https://medium.com/@HolyK1cks/casinocoin-and-why-i-invested-935ecfb28e54)
Closed loop means the token will not be traded publicly, and will only be used, “in-house”. Cammegh made a statement in November of 2019 that said, “All service and maintenance schedules as well as associated payments are held on the CasinoCoin blockchain, with payment utilizing the Cammegh Token (CAM). Operators will benefit from improved data verification and fraud protection as a result of the integration.” What does this simply mean? Cammegh Wheels will push data with every spin creating an immutable audit trail. The CAM token will be used with every transaction (spin) on the blockchain. This is extremely unique to the gambling floor and will benefit operators, regulators, and ultimately the players.
“This is the first, real-world use case of blockchain technology on the casino floor. By integrating the CasinoCoin blockchain into internal systems, Cammegh’s operators now enjoy improved data verification and fraud protection.”
-John Caldwell, Director of Advocacy, CasinoCoin Foundation.
CAM Token Logo
Impact for CasinoCoin
Why does this bode well for CasinoCoin and its investors? Each business that utilizes tokens still has to directly pay a .25 CSC transaction fee for every transaction (Which is subject to change based on CSC price). Every token partner will also pay a “premium fee” on top of the transaction fee. These premium fees differ from every partnership. Here’s an example: A Cammegh roulette wheel spins and causes a CAM token to be registered on the blockchain as a transaction. The transaction costs .25 CSC for that spin, plus the premium fee. That means every spin of every wheel will cost .25 CSC in transaction fees + the premium fee (yet to be released). All tokens will be subject to these transaction fees, much like how ERC-20 tokens do with Ethereum. This means CSC will be used in every partnership, even if its not a direct CSC usecase.
“The blockchain could not be a better vehicle to service the gaming industry’s need for ever more accountability and traceability, while enabling Cammegh to supply our customers with more diverse products in a global market, across varied jurisdictions in differing currencies” -Richard Cammegh
This partnership is great for CasinoCoin because of the exposure existing companies, especially land-based casinos, will receive. Cammegh must educate their customers (Casinos) about this new product. This will in turn create a better understanding of blockchain technology, solidifying CasinoCoin as legitimate, and will create many new opportunities for direct CSC usage or other token partners. This is a landmark partnership for blockchain within the casino sector. CasinoCoin is pioneering how blockchain technology will be used within the gaming sector, and this Cammegh partnership will be the first, of many, landmark deals.
Stats:
Token Name: CAM
Supply: 100,000,000,000
Exchanges: N/A Closed Loop
Transactions Estimate: N/A (Coming soon)
Links:
More articles: https://medium.com/@HolyK1cks
http://www.cammegh.com/
https://casinocoin.org/
https://casinocoin.org/partners/