Online Gambling golden age began with the invention of the Internet. Learn more about the online gambling industry over at Spinathon. Today, the above-mentioned industry worth is estimated in billions of US dollars, and it keeps on growing. However, considering how much freedom the Internet gave to all sorts of fraudsters, it may also be the reason for online gaming industry’s credibility loss.
Thus, as soon as cryptocurrency entered the market, more and more online gambling operators began to think of adding it to their platforms, aside from the traditional US dollar and Euro. The new currency has proved to be much more beneficial in terms of conversion speed, low commissions, and, the most important, operations’ transparency. But still, despite all its advantages, there were too many legal obstacles in the way of its adoption by online gaming companies, which slowed down the development of the online casino industry.
However, Curacao’s authorities recently provided the first license to the Ethereum based online casino. This precedent will give any online gaming providers an opportunity to implement Etherium (or any other coin) system on their platform. It may become the key to online gaming credibility improvement. Moreover, the new system will secure the future sustainable partnership with payment system vendors, stock markets, and banks multiplying both online casinos and players’ profit.
Although there is still much to learn about blockchain, it seems like its implementation in the online games industry may provide something more than just credibility and validation: an evidence-based adaptation model of the new technology will make it work in full conformity with online jurisdiction. The continuously growing list of blocks is to put an end to cheating and money laundering: an absolute transparency of the newly invented system is the very reason it may become the future of online gaming. The inherently resistant to modification, the new database will significantly curb the fraud.
The cryptocurrency value strengthens every day, and very soon the players will have the possibility to make money by playing online slots as well as secure their winnings, which will multiply over time.