Blockchain technology and digital gambling rooms
Blockchain technology is beginning to enter entirely new practices and industries throughout the world, and the world of gaming is a prime market for the potential. As of now, blockchain and gaming — which includes video games, eSports and digital casino gambling — is only just a theory, but it’s one that could develop into something more real in coming years. In Canada, there are a number of companies that have already recognized the immense potential of blockchain and are trying to get ahead of it so they can become leaders in the space. Here are some ways in which Canadian companies are taking charge.
The application of the blockchain technology
It’s no secret that Canadian digital gambling rooms are extremely popular, and the country is even talking about ways in which it can expand and extend the rules and regulations to potentially allow for more regulated digital casinos and more types of gambling.
These casinos have recognized that the more available methods for deposit and withdrawal that players have, the better chance they have at attracting new players. That’s why in addition to accepting credit cards and debit cards as forms of payment, these casinos are ensuring they offer a wide variety of third-party applications as well, such as PayPal, Skrill and other eWallets.
PayPal and Skrill themselves are already working on some forms of blockchain technology. Skrill accepts cryptocurrencies currently, and PayPal is working on something in the blockchain world.
But what does this mean for digital casinos in Canada? For one, it means more and more casino operators will most likely be working toward integrating cryptocurrency deposit and withdrawal options for players, as they seek to increase the number of available options and add on security measures as well. Digital casinos in Canada already have exceptional security measures in place. See for yourself at this digital casino.
Blockchain in other industries
Blockchain technology is also entering other gaming industries in Canada, including video games and eSports. Ubisoft, one of the world’s leading video game developers, has partnered with blockchain developer Ultra for future innovations. Ubisoft — which publishes popular titles such as Assassin’s Creed and Far Cry — has major development hubs throughout Canada, even though they are based in France.
In eSports, the Ubique Networks, based in Canada, is working on developing eSports networks that are based on blockchain technology. They have partnered with Sri Lankan Telecom to work further toward integrating this into the up-and-coming industry that is eSports.
What the two companies are hoping to do is create a decentralized gaming platform that would allow both gamers and eSports competitors to compete against each other no matter where they are in the world, with no latency or lag. The platform could also eventually be developed so that players could share resources during a game in a peer-to-peer type transaction — which blockchain technology is essentially built on.
Canada has quite the impressive and developed gaming industry — whether you’re talking about eSports, video games or digital gambling platforms. It’s part of the reason why the country is already at the forefront of adopting new innovative technologies such as blockchain by innovative companies in these industries. In fact, Canada could be one of the world’s leaders in accepting, integrating and moving forward the partnership between blockchain and gaming.
The economic gains
To buttress the good things that will come from this venture, the WSLS-TV reporters try to explain the results of a study which the Chmura Economics and Analytics carried out. They revealed that if the city of Danville gets a casino within its shores, they could be smiling with revenue of up to $384.8 million by 2022. In terms of taxes, it could generate up to $12.1 million every year.
Jones continued by pointing out that the general assembly are the people equipped by law to make the decision, after which the citizens of the city will now go to the pools in a referendum. When they go out to vote, they will be simply making a stronger case for the law, and with it, the various committees will now look into it. Digital casinos in Canada are already fully developed and functional. Have fun at one now by visiting the digital casino below.