Virtue Poker Adds Phil Ivey as Adviser

This was published 19-11-2017

Phil Ivey, one of the greatest players in the history of online poker, has joined the burgeoning team at cryptocurrency-based online poker start-up Virtue Poker.

Ivey will be lending his expertise in a number of areas and will assist with product development by helping the Virtue team to fine-tune their almost finished poker client.  Ivey can also use his widespread contacts in the poker world to enhance relationships for the company and provide important information about the state of the poker world.

Ivey commented on joining the company through a press release by saying that he is looking forward to serving as a strategic adviser to the Virtue Poker team.  He added that he believes their new peer-to-peer solution built using blockchain technology can add considerable value to the online poker experience.

Brian Rast and Dan Colman, Ivey’s fellow poker superstars, also teamed with the Ethereum-based business as ambassadors two months ago when the company announced its enterprising business.

Virtue will endeavor to solve two issues with online poker, namely trust in the fairness of the software and trust in the operator as a neutral party that holds player funds in escrow, with blockchain technology being the key in both cases.

Virtue employs a program called Mental Poker which is a peer-to-peer card shuffling protocol.  All players seated at the table contribute to the card shuffling and company employees, therefore, are not able to see players’ cards.

Ryan Gittleson, the co-founder of Virtue, commented that instead of trusting a random number generator from an operator stored in some offshore server, every single player has an RNG built into the machine that they utilize and they shuffle the deck for each hand played on the platform.

Poker players have become wary of trusting sites with the money after Lock Poker, Ultimate Bet and Full Tilt Poker did not prove to be liquid when it came time to pay up.

Virtue, however, eliminates that potential issue as the site never actually controls player funds.  Cryptocurrency is used by players to fund a digital wallet enabling players to then buy in and send the funds into an escrow via an Ethereum smart contract with the contract executing and automatically paying out winnings at the end of the game.

 

 

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