GMB – You were a pioneer in bringing sports betting in Brazil. I would like you to make a parallel between that moment and today, in front of a global fair like BiS SiGMA Americas.
Fabio Tibéria – We started 11 years ago with a small website, as technology in 2012 was not as advanced as it is today. At that time, there were 10 to 15 websites throughout Brazil and today, 10 to 15 websites are born every day in the country. This difference involved not only software technology, but also payment systems. When the activity was born, it was necessary to wait three days for the money to enter the account. Today, this takes a moment, both for the pix and cryptocurrencies, which are entering the Brazilian market in a preponderant way.
That’s truth. Cryptos have approached in an exuberant way in the sports betting sector. Is it already at its top moment or are there still advances to come?
No. Crypto is still a baby. But the development is not just about cryptos, it also involves blockchain technology with bitcoin, as well as smart contracts, which do not just involve the payment method. It is very secure and decentralized, without any kind of fraud. The blockchain has a ledger that records all movement. Gaming is also changing and moving into the “play to earn” phase. Before, old games had the concept of “playing to lose”. Now, there are separate remuneration and rewards. In addition, software with blockchain technology is emerging and this is booming.
In other words, is there still a lot to grow and ensure more safety for both the operator and the end user?
Absurdly yes. Soon all KYC part will be placed on blockchain. The issue of player identification is complex. With the new regulation of general data protection, we know that a company can have to pay up to US$ 20 million if it has any breach or failure in the security of player data. Blockchain helps preserve this security. That is, a company can use a blockchain system. It is still a system under development, but it will revolutionize our entire world, not only in the payment system. And web3 is also coming with strength, which will be all centralized and based on blockchain.
Are technological advances already available to everyone and especially to the sports betting sector?
Yes. Processing billions of data can lead to failures. On the blockchain, however, it is like writing in stone, as there is no way to cancel it. It is very secure and does not allow retroactive actions. Blockchain is crashing the banking market by advancing this technology. Cryptos work with a real economy and not a fantasy one. What the traditional economy revolves around only promises business or profit. The blockchain and bitcoin are real money.
Technology is changing not only the sports betting market, but everything is migrating to the 3.0 world!
And just to remember. In 2018 I gave a lecture on cryptos and bitcoin, making a prediction that it would grow 10 times. Since then, it has grown more than 23 times. Today it fell, due to being influenced by some events, including the war. But bitcoin will grow exponentially and in three or four years it will reach at least US$150,000.
Source: Exclusive GMB
