Isle Of Man Blockchain Lottery Receives Licence

Quanta claims it is the first fully compliant blockchain lottery in the world

Claiming it is a world first as a fully compliant blockchain lottery provider, Quanta Technology has achieved Isle of Man licensing to operate and develop its business on the island.

Quanta director Lee Hills said in a company statement this week:

“As the first blockchain gambling business in the world to obtain a reputable gambling licence, we have negotiated significant regulatory and operational hurdles. Our business partners on the Isle of Man and the Department of Economic Development have been extremely knowledgeable and helpful throughout the process of establishing operations on the Island.

“We are fortunate to have found in the Gambling Supervision Commission, a supportive regulator, committed to understanding our unique technology, while maintaining the principle of ensuring the Island’s gambling industry remains crime free, protects the young and vulnerable, and ensures our services are fair and that players receive their true winnings.”

Built on the Ethereum blockchain, Quanta utilises smart contracts for ticket sales, the selection of winners and prize pay-outs.

Developed with breakthrough Random Number Generation (RNG), Quanta’s lottery can operate independently or be adopted as a white label solution, the company claims.

Daphne Caine MHK, the Isle of Man Member with responsibility for e-Gaming said that the government welcomed the new company to one of the Island’s fastest growing sectors.

“The Isle of Man is a leading jurisdiction for online gaming and blockchain operations, with a well-established digital business ecosystem and community,” she said. “The Isle of Man’s regulations and compliance procedures are specifically designed to accelerate cryptocurrency and e-Gaming industry growth on the Island.”

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Brian Cullingworth

Brian Cullingworth

Infopowa news was a staple of Casinomeister’s news from 2000 until 2019. Brian Cullingworth was the main writer, contributor, and was one of the most knowledgeable persons I have ever known involved in the online casino industry.

We first met in January 2001 at the ICE in London where I observed him going booth to booth interviewing online casino, software, and licensing jurisdiction representatives. Brian was also heavily involved with our forum as “Jetset“, he was involved as an informal consultant to eCOGRA, the OPA, and was a player advocate who assisted countless aggrieved players with his connections to industry folks. He also published “Casino Cautions” via Infopowa news for quite a number of years. These can be found in our news archives.

His passing in February 2019 was a dark day for us. He will be forever missed.

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