Gambling for many centuries, and during that time they managed to make a highly controversial reputation. Supporters of gambling believe them innocent hobby which can theoretically enrich player for a few seconds, while opponents rightly talking about the risk to lose everything or gain a serious addiction.
All this has led to the banning or severe restriction of gambling in many countries in the world. On the contrary, other countries did not take any significant measures to regulate this market. Both approaches have their pros and cons: in case of heavy regulation of most of the market goes underground and allows crime to flourish, and in the absence of regulation of the industry is soon slipping into a real anarchy, which also feed criminal elements.
History clearly shows that people’s passion for games is stronger than any laws. However, the opacity of the gambling industry is part of, regardless of public policy against her.
The technology of the blockchain is often offered as the most obvious way to do away with the opacity of the gaming industry. Resistance and verifiability of the blockchain, making it ideal to provide full honesty in any online game, whether poker or sweepstakes. Many projects have emerged in recent years, in varying degrees, use this technology.
One of the main problems of such projects is that the blockchain and cryptocurrencies are unknown to most of the population, and so their clients tend to be the big players among cryptoendoliths. To ensure that the principles of fair play is guaranteed, which ensures the blockchain, found wide application in industry, it is necessary that such projects learned outside of the crypto community is quite narrow. In this case, gambling can benefit the industry and make the technology of the blockchain is more attractive to big players.
One of the most notable projects in this area is Edgeless Casino that offers their players a full verification of all the games on the blockchain. At the moment the platform is available blackjack and craps, however, the administration also intends to add to your Arsenal of poker and sports betting. Opacity online casino has long been the curse of industry and deterred them from a well-known part of their potential audience. Thanks to the introduction of the blockchain, this problem can be solved.
Another iconic project, implementing blockchain innovation in the area of gambling is Cryptocup offering players to bet on the outcome of the world championship on football in 2018. For this project, use so-called tokens standard ERC721, which are coded forecasts of the participant. Tokens then you can sell and buy, and for the coin with the winning predictions of their holders will be paid the reward. Thanks to the introduction of the blockchain, according to the creators of the project, solve the problem of lack of transparency and of riskiness of a tote.
Finally, the platform FirstBlood offers its users the opportunity to compete in eSports tournaments and receive prizes for winning. All matches and their details are recorded in the blockchain, so that each party can verify the integrity of both opponents and the platform. The popularity of eSports is growing fast enough, and some discipline can be considered Olympic in the next decade. Due to this, the blockchain has a good chance to gain more widespread use in the eSports industry.
The fairness of the games and betting has always been questionable, but the blockchain as a whole is able to put an end to the typical opacity. However, it should be remembered that even provably fair games are games, and therefore should be approached with responsibility and care.