It is no secret that online gambling world comes with a little bit of shade and usually one not on the brighter side of it. To name a few, rigged games, some unpaid winnings, and casinos blatantly keeping player funds are just some of the problems that are associated with the games of chance and the internet. What is a better way there to remove any type of ill intent from online gambling community than by implementing blockchain technology to do all of the governing of fairness? There are quite a few blockchain casino projects currently in works that are powered by Ethereum network but the real question to ask is whether the regulators are ready to loosen up yet?
Official Positions On The Blockchain Technology
Online gambling market capitalization surged to the all-times high over the past couple of years and if trend should continue then this would mean that in the span of next decade majority of gambling will be taking place in the deep spaces of the interweb and not at your local casino any longer. Imagine this new revolutionized online playground where you do not need to second doubt any of the outcomes because everything is transparent and easily verifiable? Now open your eyes and say hello to blockchain technology because this is what we are going to witness with the launch of projects like DAO.casino and Edgeless. Regulators try to avoid topics of blockchain when it comes to regulating online casinos or supplying them with appropriate licenses. As one would expect there are some who are actively pushing towards officials recognizing blockchain technology as being a must when it comes to the standard of online gaming but just like any new technology is expected to have a few doubters happens to be accurate for this case as well. In general, regulators are slightly more warm towards the idea thanks to the mass coverage that decentralized public ledgers are getting in the media worldwide.
Open-Source Software & Automated Cashiers
There is little more to ask when it comes down to the gaming environment that Ethereum blockchain has potential to create and there should be not too much jock-blocking to be expected from the regulators. We mean, why would you be against licensing any operations that are transparent about their product? On top of that, they will never keep any of the player's funds because all of the money is managed by the smart-contracts. We can only hope that future will be bright for the blockchain casinos and regulators worldwide. Potentially we could experience true borderless gambling without anyone getting cheated which is the main thing that anyone hopes for whenever playing online. Hopefully, regulators see that blockchain is the real answer to all of the internet gaming problems and we will see one smooth ride for the adoption of it.