Connect with us

Blockchain News

The Significance of Blockchain in the Online Gaming Industry

Peter Chen



Presently, the online gaming industry is huge and the gamers are more loyal than ever. The excessive use of the internet and mobile has led to the remarkable development in the gaming industry. With the development of technology, the gaming industry has become robust. The application of blockchain can further institute changes in the gaming industry and make it compliant and resilient. Indeed, blockchain technology is expected to change the entire world of gaming and casinos owing to its secure and immutable ecosystem. Furthermore, the smart contracts that are used in the decentralized system will leave no loopholes for frauds and other illicit activities in the gaming industry. This creates a win-win situation for the gamers as well as the operators.

There are certain dynamics and characteristics of the online gambling industry that have serious flaws and loopholes.  To create a robust and reliable gaming industry where gamers feel free and secure to play games these challenges must be addressed. This makes the overall platform disrupting and challenging for the gamers worldwide. There are a number of loopholes that need to be addressed to make the online gaming platform more robust and trustworthy. The fraud activities, data thefts, no privacy and transparency, and high transaction fees are some of the major challenges that the online gaming industry faces today.

Current limitations in the industry that Big Bang can effectively tackle

There are certain challenges in the gaming industry that need to be addressed.

  •    The gaming industry is not self-regulated which means it depends on third parties and grey markets.
  •    The dependency on third partied and grey markets rapidly increase the chances of frauds and malpractices.
  •    There is no clear separation between the online gambling and gaming services.
  •    Rights of all the actors are not entirely secure on the current gaming system.
  •    Loyalty programs that are being offered to the gamers are broken.
  •    Data safety, privacy, and transparency are neglected on the gaming platforms.
  •    Gamers retentions and acquisition become difficult for the operators due to gamers having multiple options and trust issues.

How can blockchain help in the evolution of the gaming industry?

With the emergence of blockchain and smart contracts, it provides gamers an all-inclusive solution to fight against the loopholes in the gaming industry. The decentralized blockchain technology is here to irrevocably alter the future of the gaming industry.  The data and information stored in blockchain are secure and safe from any kind of manipulation and breaches. The distributed ledger ecosystem secures public records, interactions, as well as transactions in cryptographically secured manner. These records cannot be altered or changed at any point in time. All in all, blockchain provides users a platform that offers a more secure and trustworthy network where there is no third party interference or presence of the grey market.

This gives the online gaming industry an opportunity to innovate, expand, and also improve the entire relationship between the actors on the platform. Blockchain technology can certainly leave a notable impact on the online casinos and eSports industry.

  •    The blockchain powered gaming platforms are decentralized so there is no third party interference or the involvement of the grey market. Therefore, the blockchain platforms are not regulated or governed by single users. In fact, the blockchain ecosystem is controlled by a network hence it is impossible to forge or manipulate the data and information. This results in 100% secure network that has zero chances of frauds.
  •    The blockchain powered platforms can also alter the distribution and division of winning money for the gamers. This is can be exceptionally beneficial for betting games as they are played individually. This is the best solution to avoid entry into any gamblers money.
  •    Blockchain platforms for gaming do not need any kind of mediator for the verification process. Therefore, they are cheaper.
  •    The information and data are stored cryptographically over blocks over a network. This makes it impossible to encrypt or manipulate.
  •    Blockchain powered online gaming platforms do not need any kind of documentation which in turn gives anonymity for its users. Also, the gamers can earn or get incentivized in terms of cryptocurrency that can be easily exchanged or traded for various other cryptocurrencies or fiat currencies.

Big Bang a fair play for every actor in the gaming industry

Big Bang platform is one such platform that offers an ecosystem to serve all the actors in the gaming industry. It is a global loyalty and reward ecosystem that is built for the eSports and casinos. This platform promises to tackle the existing challenges and limitations in the gaming industry. Moreover, the BBPlatform aims at providing a better set of loyalty program through a unified set of Big Bang Token (BBT) which will help in building a stronger relationship between the operators, sponsors, and gamers. The Big Bang ecosystem is secure and ideal for the gamers. It offers an ideal platform that addresses the needs of various actors in the gaming industry.

For more details, click the link:

Continue Reading



Pin It on Pinterest

Share This