BLOCKCHAIN TECHNOLOGY POWERING NEXT EVOLUTION IN IGAMING

Blockchain technology may be largely known for its association with bitcoin and other cryptocurrencies, but it also holds enormous potential for triggering the next evolution in iGaming. The signs are already here, as casino platforms based on blockchain technology are becoming increasingly popular.

Problem-solving technology

The reason for blockchain’s rise to fame in online gaming lies in its capabilities to solve problems most traditional online gaming platforms face with regards to game outcomes, payouts, winnings, and more. To increase revenues and gain more users, gambling operators are looking to expand their global operations. In order to do this, they will need to gain more confidence from potential users and be more accessible to new players by removing barriers that are typically associated with various fiat currencies. Cryptocurrency makes this possible by offering a more modern style of online gaming across jurisdictions. By employing smart contracts, most critical processes are then automated, while transparency becomes a promotional tool to prevent loopholes from being explored in current systems.

Transparency breeds credibility

It’s a win-win as players can access a platform that offers more simplicity and transparency; allowing online gaming providers to become more credible, which, in turn, makes their expansion plans more realistic.

Decentralized gambling platforms offer users an opportunity to play the most popular games from key industry players while benefitting from the security and transparency provided by blockchain technology. Independent game developers are also able to have their games on the platform, giving them a wider audience, as well as improving their competitive stance among leading iGaming providers.

Brand affiliation

By having major brands work with their gambling platform, the company will expand its White Label network, similar to an affiliate platform. Through this program, gambling partners will work with market partners to promote gambling products by leveraging the strength of their brands and increasing profits from a share of the revenue. This fair and scalable online gambling platform is based on a combination of off chain cryptography and blockchain technology. This offers the ideal foundation for up and coming platforms, benefiting regulators, operators, and players, alike.

Partnering with the big boys

As well as emerging casinos, we can expect to see this platform to work with some of the online gambling’s major trustworthy brands, such as Mr. Green Casino. These brands, having won numerous awards, establishing player trust, and including a number of stop loss features, such as deposit limits, loss limits, and wagering limits; will help the gambling platform company to establish greater credibility.  iGaming operators will also be able to access a wider range of games based on blockchain, under their own brand names. The gambling platform takes care of the admin, such as payment processing and licensing, while developing a network of products spread over an extensive network and worldwide audience.

Source: https://irishtechnews.ie/blockchain-technology-powering-next-evolution-in-igaming/