Blockchain Impact of blockchain on the Gaming Industry Report

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As a preview to the upcoming report on Blockchain to be published by GamCrowd later this month, we asked the report’s authors to give us a summary of what the report will be telling us about how the technology has the potential to truly change the way the gambling business is run. Given the technology is still at the (very exciting) stage of developing, we do not pretend to give all the answers in this report. Rather, it is a way of laying out what we know about the Blockchain landscape of the very near future and seeing how it will potentially impact not just this sector but also many others. We hope this series of articles will be the continuation of a conversation that began back in June,  with our panel session at GamCrowd’s  London Technology Week event. We are looking forward to the report as we hope you are which you be able to purchase at the end of the month.

Summary
The authors of the report introduce readers to blockchain technology and examine its potential disruption of the gambling industry. The introduction defines blockchain technology, highlights  key features and strengths - immutability, hardened security, anonymity, transparency, disintermediation, validation and authentication, and describes evolution from being the technology behind bitcoin to the distributed ledger technology that is taking the financial services industry by storm.

The report identifies a number of key areas where blockchain tech may be a significant transformative technology for the gambling industry. These examples include “no charge back” payment systems, inherent randomness, user identity and authentication capabilities, innovative random number generation, transparency for gaming authority oversight, and enhancing traditional land-based gaming operations and customer management.The research also contains some case studies on blockchain-based gaming ventures including prediction markets, lotteries, card and dice games, and e-sports wagering.

The writers also examine the significance of recent major hacking attacks against at bitcoin exchanges, the implosion of the DAO and readiness of smart contracts code, the scalability and transactional speed of blockchain, and major regulatory and compliance questions with blockchain adoption in the gambling industry.

Chain-Finance Description
The mission of Chain-Finance is to examine and evangelise how different blockchains and distributed ledger technologies can enable and disrupt the global financial services industry. The team at Chain-Finance accomplishes this by providing research, intelligence, and education regarding the development of blockchain technologies for financial services and other industries. This includes producing events that bring stakeholders together, inform and educate about these new technologies, and encourage constructive discussions on how they can enhance services.

Report Contributors

Dr. Hans Lombardo
Hans is a successful entrepreneur and enthusiastic analyst of new, disruptive technologies including blockchain technology, crypto-currencies, data analytics and Internet of Things. In 2012, Hans sold his previous company, a boutique research firm focused on Chinese high-technology industries. Hans is an Internet industry veteran with Asian regional c-suite experience. In the late 1990’s, he earned tech journalist credentials at internet.com and Internet World magazine, interviewing Jack Ma, Jerry Yang, Vinton Cerf and Richard Li.

Adam Vaziri
Adam Vaziri is a director of Diacle, a firm that provides regulatory consultancy and compliance software for the fintech industry. Adam is also a founder of BitLegal, an online directory and provider of information on regulatory landscape of bitcoin and blockchain technology. Adam is also a qualified solicitor and on the board of the UK Digital Currency Association.

Matthew Warner
Based near Windsor, England, Matthew is an enthusiast for innovative, cutting edge technologies. Matthew writes for Chain-Finance.com and AllCoinsNews.com. He is also a B.Eng. graduate in engineering with honours from the University of Warwick and a member of Mensa.