David Williams | 23 Oct 2017
Blockchain technology has grown immensely in stature all over the world, working its way into every industry from governmental administration to medical fields - and even mobile gaming. Blockchain, which is the basis of cryptocurrencies like Bitcoin, has even been touted as the next biggest thing in the gaming industry since in-play betting came along, promising major opportunities for casino operators and mobile developers.
Major technology events like ICE 2017 have focussed heavily on Blockchain and its potential this year, and in particular when it comes to the mobile gambling industry. Its partnership with GamCrowd means that cryptocurrencies can now provide cost-effective and safe payment methods for mobile gamers, as well as many other benefits in terms of player safety and anonymity.
GamCrowd Managing Director Chris North even noted that as Blockchain technology touches down in the gaming industry, it could prompt a revolution of trustless, instant payments and ‘smart contracts’ that could forever change the way mobile casino games are played. The director noted that there could be equal doses of opportunity and disruption as a result, leading to an overhaul of the industry that could be just on the horizon.
Venture Beat has also reported numerous benefits of Blockchain for the mobile gaming industry thanks to its decentralised nature, which gives power back to players instead of handing it to centralised organisations. In the future, players could eventually begin to dictate their own prices, levy taxes, and control content, as well as socialising and transacting without the need for intermediary parties.
And although this may be a few years off from being a reality, many experts have predicted the same pattern of events, making mobile gaming more streamlined and personalised thanks to the anonymity and rapid processing of cryptocurrency payment systems.
The use of Blockchains in mobile gaming could also enable cross-platform support, for example between social casino games on Facebook and mobile casino games at a licensed operator’s site. Blockchain’s decentralised platforms will give players and game developers the license to create in-world communities and enjoy increased connectivity.
Lastly, Blockchain is expected to empower mobile gamers by giving them full control over their transactions. Cryptocurrency payments are processed without transaction costs and exchange fees, making them a convenient way to pay for real money gaming. Players also enjoy control over the currency itself, driving its value up with continued use and increasing their ownership value.
With all of this in mind, there is no doubt that Blockchain will be heavily implicated in the future of mobile gaming. Many mobile players are already experiencing the benefits of playing at Bitcoin mobile casinos – and it is exciting indeed to think what the future may hold for the gaming industry with Blockchain technology at its side.