Adopting Blockchain

Blockchain

Changing The

iGaming is expected to generate over $180 billion in revenue over the next few years, it is therefore unsurprising to find that over 2 billion of the world’s population are gamers. The use of more mainstream applications of block tech, such as smart contracts, fraud prevention, and the ability to remove middle men from the equation is central to propelling iGaming into the arena, allowing the sector to move ever closer towards eventual blockchain adoption.

The opportunity to achieve transparency by operating on a blockchain has been invaluable to the iGaming industry. Players are flocking towards platforms that can offer them fairness - such as full disclosure of gambling odds and betting results, and reassurance that the Random Number Generator is operating within fair parameters and is not subject to manipulation.

FunFair comes to mind as a prime example of a company leveraging block tech to ensure gaming that is low-cost, secure, and transparent. The platform runs on Ethereum and is supported by innovative Fate Channel technology.

Smart contracts have been crucial in building trust between player and operator, providing a secure transaction and reducing the need for intervention from top-level administration. Integrating fully-automated digital agreements into the equation has helped base the process on the valuable tenets of clarity and immutability. MeVu, for example, is allowing players to set their own odds and bet on anything. By leveraging smart contracts on an Ethereum blockchain immutable and secure storage of players’ funds and data is ensured. Once in place, contracts and agreements are pretty much set in digital stone.

New technology is also turning traditional gaming platforms on their head, shaking up how they store sensitive data, such as player information and gameplay history. Known to be prime targets for cyber attacks and data breaches, traditional gaming platforms are turning to cryptographic protection from decentralised blockchain structures which can offer far more security than centralised systems. Without a central point to exploit, hackers quickly find themselves struggling through quicksand.

As demographics continue to shift, and the confines of its world open up, the iGaming industry has sought to embrace tech innovation. The emergence of the Millennial market has been a game changer, with a younger, techsavvy crowd driving the trend in easy to use, experiencebased and personalised player-brand relationships.

It is this change in tune that has cleared a path for A.I. and blockchain controlled marketing platforms to take hold - without them, operators would struggle to retain customer interaction whilst still achieving the kind of personalisation that is key to cracking the new kids on the block. Tailored products powered by fast, automated delivery are at the forefront of customer retention. In such a competitive world, digital industries such as iGaming are expected to know what their players want, almost before they do.

True innovation is about reimagining the digital environment by changing the fundamental process of how consumers interact with the product and brand whilst improving their overall experience: it is this that will help it gain greater traction amongst online players.