G

aming is one of the biggest and most popular forms of entertainment on the planet today. It can be enjoyed in multiple guises, across multiple devices and platforms, by a multitude of people. One thing that can certainly be said about the gaming industry is that it has always embraced the latest technology and trends, with both then playing a significant role in the gaming industry evolving and therefore moving forward.

One of the most talked about developments regarding the gaming industry recently could be labelled as both technology and a trend. Cryptocurrency, while it has been around for a good while, became more of a mainstream product just a few years ago, and so did the blockchain technology which powers it. This saw many industries take note, one being the gaming industry, as in general they are open to new ways of working.

Online casino and mobile casinos are both instances of where cryptocurrency payments could have a hugely beneficial impact for several reasons. One of the first is that cryptocurrency payments and the associated blockchain technology allows everyone to gamble anonymously. They will no longer have to share any of their personal details and players would even be able to enjoy gaming from wherever they are in the world, whether gambling services are made available in their current location or not.

Blockchain technology also works in a way that means any gaming site would be able to prove that they’re operating honestly, fairly. The technology makes everything transparent, due to the blockchain records that are created when a transaction takes place and is verified. There are other benefits to consider too, such as there being no middle man involved in any transactions, therefore meaning no fees, no risk of criminality, and all transactions are instant.

As a result of the benefits of accepting cryptocurrency as a method of payment we have already seen there are a few crypto based online and mobile casinos in operation and they’re proving to be very popular. However, the perceived larger companies who operate using the relevant licenses and under strict rules and regulations are yet to make the move to allow their members to pay using cryptos such as Bitcoin. However, this doesn’t mean that the likes of mobile gaming giant mFortune aren’t actively investigating the possibility, as there are a lot of benefits to consider. These brands may not accept cryptocurrency just yet, but there is little doubt their core services like bingo and casino would most likely benefit.

Cryptocurrencies and blockchain technology are already having a positive impact on the gaming industry and there’s certainly more to come in this regard, especially when some of the bigger names and more reputable and respected operators embrace both cryptos and the technology behind it. It could completely revolutionise and transform how the gaming industry operates in general, especially where payments are concerned, and it will come as no surprise that cryptos and blockchain technology are already having an impact in other industries and sectors too, as the world moves ever closer to a decentralised way of working.

Posted 
Mar 16, 2019
 in 
Gaming
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