Blockchain gambling impact – Professional Opinions
In our previous article we talked about the changes the blockchain is making to the gambling industry in terms of safety and transactions, and we heard the opinion from Jan Sammut from BlockScope, a web development and marketing company partnering with RefToken, a decentralized affiliate platform, or the first decentralized affiliate platform.
Let’s take a look now at the opinion of other professionals working in this area.
Ivan Montik, Softswiss
Ivan Montik, from Softswiss, a casino software company, was asked about the impact of blockchain on the gambling industry and it’s with no surprise that he answered that the blockchain already has a global impact on gambling.
Licensing procedures, provably fair control, fraud tracking, finance management, all of this will be transferred to the blockchain by the gambling regulators. Montik concludes by saying that 100% transparency on financial operations and a clear taxation will definitely contribute for the development of the industry.
Nick Garner – Oshi.io
Nick Garner, from the online casino Oshi.io, a site that accepts cryptocurrency as payment method, was asked the same question, and the answer was also in the direction of a drastic change of the gambling industry.
The blockchain will decentralize and reduce the number of intermediates or even eliminate them, and FunFair and Bettor are already good examples of that, by offering gambling ecosystems and tokens.
The decentralization brings the possibility to create immediate operations with minimal initial costs and legislative concerns. The almost anonymity of cryptocurrency creates a lot of potential for the industry.
For Garner, a five-year scenario will show a massive blockchain gambling activity rivaling directly with the existing iGaming industry, and not only the traditional casino games will be on the table like slots or card games, but also skin gambling games, loot boxes and E-sports.
Putting this in other words, the loot boxes from the game publishers will migrate to the blockchain, to open gambling ecosystems and marketplaces leading to a further online gambling expansion.
The social acceptance of this new gambling model will contribute to the growth of the industry. In the same way that lottery players don’t see themselves as gamblers, also these new gamblers from these new games won’t be seeing themselves that way.
Johan Styren, Dilanti CEO
Johan Styren, CEO at Dilanti Media, a pay for performance marketing company operating in the cryptocurrency and gambling markets, among others, has a similar idea to the one from Nick Garner.
Johan says that online businesses will naturally take more advantage of the blockchain opportunities, saying that ICOs will have the biggest impact, as it will mean new funding for investing in the industry, representing an opportunity for smaller operators to enter the market and generate some innovation.
Andre Rodrigues – Goldblue AB CEO
Andre Rodrigues, from Goldblue AB, a Swedish iGaming holding company, mentions the obvious benefits that the blockchain brings to the igaming payment processes and confidentiality in the transactions, which is just a small part of what the blockchain can do for the industry.
The blockchain development is at its peak, so future blockchain online casinos will have advanced features in terms of activity of the players, wallet ledgers, among many others, depending less and less on the existing databases and infrastructures, that do not add value in terms of security and transparency.