Blockchain Technology Is A Positive Influence on The Gaming Industry

The online gaming and gambling industry is one that is constantly growing at a rapid rate. It’s believed that 2018 will be the year where it’s value surpasses the $50 billion mark and it has received a further boost with the growth in popularity of mobile gambling. It’s grown by an impressive 75% based on the year on year figures and it will be instrumental in taking the industry in a new direction, while it’s value continues to sky rocket.

One thing that has always plagued the industry though are concerns over transparency and safety. A lot of money and details change hands in the online casino world and this has seen it become a target for online criminals and hackers. With online security being a big thing for so many consumers these days, it’s vital that reputable sites find ways to offer a totally secure service, and this can be achieved by using blockchain technology.

A lot has been said about introducing cryptocurrencies as payment methods in the online gaming industry, but it’s the technology that underpins it that looks set to be investigated in 2018. Blockchain technology works by putting a transaction ledger to work which is not only verifiable but unchangeable too. With all parties able to benefit from a copy of the ledger, it would provide complete transparency where transactions are concerned.

What blockchain technology will ultimately do is provide both the operator and players with the ability to know where their money is, and where it’s going, at all times. There could also be the possibility that any middlemen or third parties could be eradicated too, providing further transparency, through the use of “smart contracts.”

Smart contracts would see computers enforce a digital agreement between the relevant parties and with this providing another layer of transparency. The system would work hand in hand with the blockchain technology ensuring that there is no deviation from the rules and that all payouts are instant. In modern day online gambling, the withholding of winnings is a common occurrence and it infuriates players.

With the site or any third parties not involved in governing games and payments, these methods will see payments immediately issued to the player, with absolutely no interference. This will be a very attractive proposition for players who will not only benefit from complete transparency in regard to their gaming activities, but they will never encounter delayed or withheld payments again.

There is no denying that blockchain technology would have a very positive influence on the gaming industry. In a world where there has been concerns over security and transparency for many years, it could be the ideal solution for both operators and players. It also raises the question as to whether cryptocurrency should be adopted by more established online casino brands like Unibet. There are certainly security benefits that come with it, but one suspects the real push will come from the players themselves.

The post Blockchain Technology Is A Positive Influence on The Gaming Industry appeared first on Bitcoin Garden.

Komentar

Posting Komentar

Postingan populer dari blog ini

Blockchain Supply Chain Forum will be held on January 10th in Hong Kong

Gambar
The concept of a blockchain – a distributed, tamper-proof and time-stamped database of transactions that can be managed without intermediaries – is highly attractive in the supply chain domain, and the industry has launched a number of proof-of-concept initiatives. However, awareness of how blockchains work and what they can accomplish for supply chain is still relatively low. The lack of knowledge is exacerbated by the fast pace at which the technology is evolving. A success Blockchain Supply Chain Forum was held on October 24th in Shanghai, professional blockchain organizer EventLinker and Global Supply Chain Council will organize the Blockchain Supply Chain Forum on January 10th in Hong Kong, it is the forum connecting blockchain experts, supply chain and logistics decision makers and tech innovators. This intimate gathering will explore how companies are investigating the use and deployment of the technology to help their supply chains in China. Organizer: EventLinker EventLin
Baca selengkapnya

Transformation of education in post-industrial society

Gambar
Education has always been an expensive privilege; and the education sector has always been one of the most conservative. People chose profession once in their life and did not change it until retirement. Usually education meant studying at a university; self-taught people were rare. However, in the post-industrial society changes in the shape, sense and affordability of education finally began. According to Alvin Toffler, a well-known US sociologist, the emergence of the post-industrial society is a consequence of the intellectual revolution. The possession of knowledge and information will replace financial capital as the biggest value. Development of innovations, empowered by the most educated, will become the most important sector of economy. It means that high-quality affordable education will become even more important than now. The last time when the global education experienced a serious transformation was at the very beginning of the 21st century when the wide access to the I
Baca selengkapnya

After GDPR effect? In A Post Cookie World, Blockchain Is Rising

Gambar
The European General Data Protection Regulation (GDPR) was rolled out in May this year. It introduced far-reaching implications for companies which process personal data related to EU citizens. Even those far outside the EU could not fail to notice this change. Email inboxes were overflowing with opt-out reminders. Cookie banners now obscure many websites, forcing users to agree to a privacy policy so that they can browse the content on the site. Although the GDPR document itself clocks in at 88 pages, the majority of what it covers can be summed up in one word — consent. If companies are processing personal data, it must be done with the explicit, informed consent of the individual. For some forms of marketing, such as email subscriber lists, this involved minimal changes. Individuals already have to take the active step of providing their email addresses, and usually it is pretty clear why they are asked to do so. However, for the digital advertising industry, consent is far less
Baca selengkapnya