The Blockchain Gambling Impact – Professional Opinions – Part 5
Playing online at blockchain casinos brings several advantages, and one of those advantages is independence, in the sense that the games we are playing don’t depend on a private server or any bank that stores our money.
Let’s continue reading about the opinion of industry professionals about online gambling.
Jez San, FunFair
Jez San from FunFair, a blockchain powered solution company, says what many think and feel, that players don’t have a blind faith on their online casinos, and this happens because when the players provide the casino with their credit card information they simply lose control of what happens to their funds.
When using games at FunFair or at other online gambling solution this doesn’t happen as deposits are not necessary, the games are played directly using the cash or cryptocurrencies on the players’ wallets, giving true independence and freedom to the players.
Joseph F. Borg, WH Partners
WH partners is an advocates and solicitors company and Joseph Borg is their Gaming and Blockchain Advisory, and he shows some concern about this particular aspect of blockchain gambling, about the protection for more vulnerable people, like minors. It has to be ensured that the blockchain will tackle problems like the lack of register for players.
Tone Vays, Blockchain Analyst
Tone Vays considers the blockchain has already impacted strongly the gambling industry, namely through Bitcoin payments, which makes that gambling operators and companies can take bets faster trusting the payment is happening, even without the existence of user accounts.
The opposite is also true, gambling companies can pay any user worldwide, and bank accounts or other centralized services are not necessary. As an additional feature, the blockchain can store all the operator data in a transparent way.
The use case of being able to bet from anywhere and not having to deal with jurisdiction questions is undeniable, so the possibilities and endless.
Ilkka Aalto-Setälä, Borenius
Borenius is a legal company, and Ilkka Aalto-Setälä, a partner at the company, explains how in Finland Veikkaus Oy is the only legal gambling operator in the country. Having this said, the Finnish government has created a work group to debate how to prevent other online gambling than the one run by Veikkaus Oy and necessary legislative changes for that to happen.
Blocking payments in the blockchain is something impossible to implement though, so there’s no easy way out of this question for the Finnish or any other government in the world, as true decentralization is impossible to fight.
This is a clear example of how blockchain gambling will disrupt governmental gambling monopolies and create a new gambling paradigm.
The blockchain is introducing many changes and possibilities to the gambling industry, and poker is one of the games that will also be impacted. Today we have already more and more poker rooms using the blockchain technology, something that is improving speed of play and usability, but also peer to peer interaction and their own payment method.
In our next article we will continue to discuss blockchain gambling and in particular its effects on poker and other games.