Blockchain technology derives from Bitcoin which in nature is a kind of decentralized digital currency system developed with computer algorithm, cryptology and other technologies, aiming at currency issuing and transaction functions. It is not until several years after the launching of Bitcoin that its background technology began to win wide recognition. Many entrepreneurs have recently believed that blockchain technology will break through the development pace of many industries and even bring subversive changes to some enterprises.
A preliminary application of blockchain technology can now be found in many industries such as finance, network security, property registration, internet of things and supply chain, and has gradually achieved some results. However, restricted by some technical barriers such as block storage capacity and storage speed, there is still a long way to go before a large-scale commercial application. Although the development of blockchain technology is still in its infancy, nothing can hide its huge potential. The commercial value it can bring in the future will be no less than and even far exceed the Internet.
Online interactive gaming industry is one of those with relatively centralized application of blockchain technology. It provides a better technical support for this industry and effectively addresses many sticky issues of global gaming like convenience, fairness, reputation and trust. With this technology, the online interactive gaming industry becomes absolutely transparent and appealing. The randomizer and auto-reporting system are no longer managed by people but by encrypted verifiable code, which will greatly improve the trust level. This might bring revolutionary impacts onto the online interactive gaming industry. We are wondering what changes blockchain will make to the online interactive gaming industry in the future.
Change 1: blockchain-based online gaming platforms will spring up.
A large number of online gaming platforms in the world are competing to each other comprehensively for attracting users all the time, with trust and payment draining the most effort. Trust mainly refers to fairness and to making users believe they are fairly treated with no manipulation of any banker for the result. For this issue, blockchain technology should be the answer as it makes the entire process transparent. In this case, blockchain-based technology will definitely win higher trust, attract more users and as a result take a higher share.
Change 2: the online interactive gaming industry will largely apply blockchain technology as foundation.
Its success story in the online interactive gaming industry before will advance overwhelming popularization of blockchain technology in this industry. More and more gaming platforms will apply blockchain technology as their foundation, making blockchain technology a standard configuration for all gaming platforms.
Change 3: governmental regulatory departments will legislate to promote the application of blockchain technology into gaming.
The government will become an important promoter of blockchain application and popularization in the online interactive gaming industry. In order to develop local online interactive gaming industry, some countries and regions will promote the application of blockchain technology in the gaming platform through legislation and blockchain will become an important tool for regulators in work.
Change 4: blockchain-based tokens will become mainstream chip conversion tools.
Chip conversion with digital currency will become the mainstream operation. Digital currency is favored by many players with its anonymous feature. The convenient experience in payment with digital currency will encourage more gaming platforms to follow for free conversion between digital currency and chips.
Change 5: Online interactive gaming industry has stepped onto a global phase.
Compared to regionalized distribution of traditional gaming, the emerging of online gaming platforms will push the online interactive gaming industry to the entire world. The application of blockchain technology will promote global development of the online interactive gaming industry. Blockchain-based gaming platforms are going to welcoming players around the world.
Change 6: heavyweight blockchain-based gaming platforms will get birth.
The uprising of the Internet gave birth to Google, Amazon, Alibaba and other large internet-based groups, followed by tens of thousands of internet enterprises. The current blockchain technology will follow its example. Plenty of blockchain-based startup enterprises are also expected to develop into large groups, but at unimaginable faster speed. The online interactive gaming industry is bound to witness large enterprises that apply blockchain technology into their platforms and all such enterprises will be as large and mighty as or even larger and mightier than current international internet groups in scale and capacity.