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Blockchain has been hugely influential in revolutionizing the way that things are done online. From shopping to playing at online casinos to facilitating payments and smart contracts, It has so many beneficial applications that we are only touching the tip of the iceberg when it comes to its uses.
There is one particular industry where it has had nothing but a positive influence, and that is the iGaming industry. In particular, it plays a big part in ensuring and guaranteeing transparency and keeping players safe when gambling online. And this is a hugely important factor for many gamers, as they don’t want concerns to weigh them down; they just want to get to it and have some fun.
And so the focus subject today is what trends blockchain is bringing to the table with respect to the industry of iGaming. If you’re not sure of what iGaming is, it’s essentially where you’re gaming online through either slots, blackjack, or roulette at online casino sites. You’ve probably experienced it yourself before, and it is a hugely growing market. And it’s also an industry that is being changed by technology nearly every other week. More specifically, blockchain makes crypto casinos ( – see here at https://bitedge.com/crypto-casinos/) a reality. It brings them to life.
Protecting your identity
A major reason why blockchain has been so warmly welcomed within the iGaming industry is due to some of the privacy benefits that it brings along with it. For example, if you want to sign up at a crypto casino, all you need is a digital wallet with an ID. It is optional as to whether you want to use a pseudonym or not. And so, as opposed to signing up at a traditional fiat online casino, you don’t have to provide a plethora of information, such as your name, address, postcode, and all of your bank details. This serves a dual benefit for iGaming fans: firstly, it minimizes the amount of information you’re disclosing, and secondly, it speeds up both the signing up and signing in process.
Speed is key.
In the modern day, we expect everything to be done instantly. If you think about it, when’s the last time you waited over 5 seconds for a web page to load? Or, in fact, waited over 3 seconds before nearly wanting to navigate back off the page until it eventually loaded? Well, you’re not alone. We have come a long way from the days of dial-up internet, and rightly so. And so when you’re depositing or withdrawing from your online casino account, you want it to be done near enough instantly, particularly for withdrawing, and this is what blockchain allows. Cryptocurrency payments are really fast because they don’t have to go through intermediaries such as payment processors or banks; they are directly between the sender and recipient.
Ensuring transparency
Another big benefit that the technology underlying blockchain brings to the iGaming sector is that it holds the crypto casinos to account and promotes transparency. Every single one of us, when we are playing online, wants a fair and enjoyable experience. We want to be able to wager our hard-earned money without having to worry about whether the casino operator is playing fairly. Blockchain ensures 100% undoubted transparency. What we mean by this is that every single payment and wager are publicly listed, so no data or information can be manipulated by the casino operator. It’s in this way that you know you’re getting a fair gaming experience.
It’s more accessible.
Depending on which country you live in, it can sometimes be hard to find the right online casino to play at. What we mean by this is that either legislation in your country goes against the grain or that specific payment methods aren’t accepted due to financial restrictions. And so if you are in a country that allows you to access online casinos, you can consider yourself quite lucky. Whereas cryptocurrency is universally accessible, What we mean by this is that you don’t have to have certain banking regulations, and this means that the world of crypto casinos can be accessed by a wider range of people.
In Summary
These are just some of the trends that blockchain has brought to the iGaming industry, and these are the trends that I can predict lasting a long time into the future. As for blockchain, it is still not being used in the mainstream of online casinos; however, over time, I think we can start to see it slowly being adopted and more and more people getting used to the idea of crypto casinos and all of the benefits that we’ve covered today that it brings along with it. And so the future does indeed look very exciting.