Ridotto’s Disruptive Legal Framework
Today Ridotto is thrilled to reveal its carefully crafted, and totally innovative approach to decentralized casino legal strategy. The framework that the team has adopted deconstructs the definition of traditional casinos and thereby frees Ridotto to circumvent classic restrictions to pursue maximal reach and impact.
Legal Framework Overview
At a high level, the legislative landscape surrounding the casino industry centers around regulating third-party gambling providers, who bankroll and otherwise facilitate gambling. The current set of legal definitions successfully targets centralized organization models, both physical and online, and forces them to comply via licensure, which is a certification of government approval to operate within its jurisdiction.
While the path of licensure is severely restrictive to globally-minded projects like Ridotto, it happens to be non-applicable to decentralized casino models which, by virtue of their lack of ownership, lie outside of the traditional legal conceptualization of casinos.
By bucking centralized ownership, Ridotto enters into a new category in which the old rules no longer apply. Ridotto is not a casino, but a decentralized casino infrastructure, governed by a DAO, and utilized by an open-source and nebulous community of players, builders, and bankrollers. No one recognizable individual or party makes the rules, controls the play or earns the profits.
This means that Ridotto is positioned to avoid the many pitfalls of licensing, which includes both time intensiveness and high expenses as well as regional limitations and the responsibility to enforce non-anonymous KYC customer practices.
Introducing a New Paradigm
At present, blockchain-based crypto casinos fall into one of two categories: Unlicensed and licensed in limited jurisdictions. In practice, both categories may act illegally when they are centralized and operate outside the jurisdiction where they are licensed and such other countries require their own licensing. They, therefore, fail to appropriately differentiate from ordinary Web 2 online casinos, and their vulnerability in the face of the law.
Ridotto, on the other hand, deconstructs its role as casino operator and distributes all rights and privileges to its sea of community members via what will soon be a well-structured DAO. In active governance and reward sharing, it will work in tandem with the team, whose sole responsibility it is to put in place the structure for a self-sustaining and unstoppable decentralized application.
Far from being unique to $RDT, by replacing law and license with blockchain and transparency, Ridotto is not reinventing the wheel, but furthering a movement initiated by Bitcoin and carried by DeFi to replace centralized intermediaries and their onerous laws, with flawless, transparent and fair, code based decentralized infrastructure.
Ridotto is the very first cross-chain gambling and lottery protocol based on complete transparency, anonymity, security, and fairness. Our approach is to provide an open protocol driven by the community, where users can play, build, and even bankroll casino games, thus earning generous liquidity. Ridotto’s overarching goal is to elevate the user to the role of “house,” thereby offering a fully scalable alternative to centralized online gambling.
Beyond our vibrant flagship casino, we will unleash retail ingenuity by giving users the decentralized infrastructure to experiment and evolve the gambling ecosystem, much like the App Store did for mobile gaming.