The Blockchain Gambling Impact – Professional Opinions – Part 4
New technology has been shaping our society for years now, and the blockchain is promising to create new solutions for several industries, including online gambling. Or should we say with online gambling leading the way?
Let’s continue to read some opinions about professionals working in this area and their perspective about gambling and blockchain.
Responsible gaming is a legal requirement, and the blockchain contributes to a fairer gaming by using open source algorithms which ensure that there is no fraud in their random number generators (RNG).
The current RNG can be tampered, something that doesn’t happen in a transparent blockchain system, where the data is available to anyone, making clients trust more in the system.
Softswiss, Casino Software Company
That is an information Softswiss agrees with, having the advantage of not only eliminating fraud, but also to allow casinos to focus on providing a better service by offering provably fair games and transparent entertainment.
Stephen Drew, Trading, Software and Investment Banking
Stephen raises funds for his clients, small to medium sized companies, and has raised over $1 billion over the years. Stephen is also advisor to more than 20 blockchain companies and says that transactions in the blockchain cannot be deleted or changed, so the record of those transactions is there forever for anyone to see them.
Cryptography gives online gambling sites on the blockchain the possibility to prove they are indeed honest, as everything is verifiable and viewable, including payouts.
Roger Ver, Bitcoin Cash
Roger Ver, well-known investor in the crypto area, backs this information from Stephen Drew by saying the blockchain will lead to a new online gambling paradigm where trust on the house or regulatory bodies is no longer needed, as players can see everything is transparent.
Mark Hamade, Vivaris Capital
Vivaris Capital is an investment company and Mark Hamade, Vivaris partner, considers the blockchain cannot be taken lightly. Mark predicts that the gambling industry will be bigger than $500 billion in 2019, and the blockchain has the capacity to transform this industry.
The blockchain can create trustworthy transactions and dependable systems, decentralized gaming and build solid and transparent applications, where even brick-and mortar casino can use the blockchain to keep their digital records.
Blockchain Gambling Machines
The impact of the blockchain on online casinos is something that stands out and that we have discussed thoroughly, but land-based casinos will be impacted by the blockchain as well. New blockchain gambling machines will be released soon, to cater for high volumes and top quality, considering it’s expected that the financial volume of casinos will increase $59 billion until 2020.
The production of blockchain machines has already begun and they will be located at the top casinos worldwide, exposing their audiences to the new technology, which offers lower transactions cost and the possibility of new payment methods, apart from money and credit card.
Softswiss, Casino Software Company
Among the companies ready to embrace these changes we find Softswiss, which claims that the blockchain will not only allow their work to be easily tracked, but they also have plans to become an operator themselves and create a blockchain casino.
How fast this blockchain casino will be created will depend on the policies implemented by regulators. Meanwhile, the company provides consulting services to help gambling operators understand the blockchain and how to integrate it in the existing processes of their companies.