Blockchain and ICO’s are invoking sharp reactions from all. However, one thing is certain that this technology is here to stay and it is going to bring quick and vivid changes to the way things work. While sports betting industry has become decentralized the online casinos have yet to adopt the policies.
This is probably because the players lack trust and believe that such entities are prone to frequent cyber-attacks. If the online casinos have a backing of a trusted government institute then probably the players may feel safe and less exposed.
Blockchain technology can actually solve these problems for you. The biggest benefit that you derive from the technology is that it offers transparency to brands of the iGaming industry.
The brand can now connect directly to the player and this establishes a trust level which is hard to beat. Improved trust leads to streamlining of other processes as well which in turn creates more games and hence more players. Overall a beneficial situation for all the parties involved.
Apart from the blockchain ICO’s are also gaining prominence within the industry. When you initiate an ICO for your iGaming brand you get the benefit of getting high investment to put into your venture. However, there are many scams happening in the ICO world and before jumping on to it you need to define its purpose.
Best scenario would be to have a Minimal Viable Product (MVP) before you start planning on initiating an ICO. When you do that you show to the investors the initial potential of your brand and the future prospects as well. However being a future ICO er you should take care that your model passes independent audits before it enters the market.
Blockchain technology also works to bring together many similar companies. Ever since ICO’s have started rising new companies and better blockchain based games have entered the industry. The manner in which the games are now developed has improved vastly and the overall experience of playing has also changed.
This has led to the creation of some worthwhile partnerships between casinos and blockchain based game producers. Mostly these partnerships share technological know-how, the manner of operation and create a setup which benefits both the parties and the player as well.
As time passes only time would be able to tell us how the blockchain technology can shape the future of the iGaming industry. One thing that is however certain is that the blockchain technology is going to revolutionize and redesign the iGaming industry completely.
We generally fear any big change assuming that it is going to harm us, however, in this case, it can show some major advancements that have never ever been seen before. Definitely, this holds enough potential worth exploring.Tags: Blockchain, Blockchain Technology, ICO, The iGaming Industry