The Future Of Blockchain In The Australian iGaming Industry ⋆ ZyCryptoJune 5, 2019
It is not a secret that Australians have some strong feelings towards casinos, and it is also assumed by many that these strong feelings are also directed towards cryptocurrencies and blockchain technologies. Both these seem to be true, especially if you consider the amount of money Australians have spent on either of the products in the past few years.
Whether this is in the process of development or in the process of purchasing and playing, Australians do not hesitate to express the entirety of their love in dollar bills. And this type of expression has resulted in an interesting development for the industry: the two are currently being combined, or there are attempts being made at combining the two, in order to produce a superior product.
What is interesting is that blockchain is being used as much in the development of games that would allow users to play roulette online in Australia as well as the possible payment systems. The result is interesting not simply because there are games available for play, but also because thee developments are having an interesting impact on the nature of blockchain technology as well, in some cases even increase the efficiency of the technology and its speed.
Why Develop New Ways To Play
In an industry as lively and as endangered as the gambling industry in Australia, it is incredibly important to stay ahead of your competition and to also remain capable of avoiding violating the regulation associated with the industry.
This juggling game results in many companies burning out and having to altogether stop offering their services, while others learn to stick to what they do best for as long as they can and not develop any further than that.
Yet, there are still those in the industry that wish to be able to push themselves and produce products that are beyond what many people expect them to be able to produce. As a result, we get new initiatives and interesting developments, such as cryptocurrency based online casinos.
How these casinos work is mostly up to and dependent on the developers of the casinos, but the real issues only start when the company has finally figured out what a good product is.
In recent years Australia has decided to ban local companies from providing a gambling service to the local populations. This means that Australians cannot play online casinos that are owned by Australians. This has resulted in a surge of online casinos that originate abroad, whether these are casinos that are from Europe, UK or from Asia. As a result, many companies that used to offer gaming services had to stop operating as casinos and start offering services as developers, selling their products to the casinos that actually offer services within the country. Which is one of the most important factors in the way the gambling games have been developing towards more cryptocurrency based adventures.
Crypto Defined Gaming
The more traditional way of looking at cryptocurrency gambling would be to make cryptocurrency into a payment system. This is what has been done around most of the world, with casinos adopting Bitcoin as a payment system that is equal in value and reliability to Zillow or a credit card. But the recent occurrences of scam activities in Australia and the need for humans to constantly develop technologies has resulted in Blockchain is taking one step further in the development of the industry.
Some casinos have decided to make blockchain a part of their currency system, in a way that would result in the casino having its own currency. This way players would have to purchase the currency in order to bet, in the same way, that you have to buy chips in order to play at a blackjack table. This has not been the most popular or the most successful implementation of the technology, but it has still seen some positive reviews by users. The concept is still in need of further development before it becomes a staple of any casino though.
What is more interesting in terms of Blockchain is the fact that there have been games that are developed on the basis of technology. The developers claim that the blockchain has not been slowing down the games at all, instead of performing at the same speed and rate of reliability as any other game would have performed. But, according to the developers, the most interesting aspect of this technological development is the much more capable random number generator algorithms that have resulted in better results than the RNG algorithms that have been available to developers up to this point. This means that the reliability, anonymity and even the randomness of the games have increased at no cost of speed to the player. A great development for the gamblers worldwide.
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