When GamCrowd was putting together the technology and innovation day we hosted as part of London Tech Week earlier this year, it was abundantly clear that one of the most interesting areas of tech affecting the gambling industry was the developments in blockchain. As the panellists were talking, it became obvious to all in the audience the truth of the statement that blockchain was a fantastically innovative technology that has the potential to change whole spheres of business.
The conference was enough of a spur for us to start thinking about this report that we have put together with our friends from Chain-Finance.com. Once we started speaking to the nascent universe of companies that are starting to work at the frontier of gambling and blockchain we also saw the opportunity to give them more of a platform.
One company we spoke to is Coinsilium, and chief executive Eddy Travia says the gambling industry is in a similar position as the financial technology (fintech) sector was a few years ago with its thinking about blockchain. “We are now getting to a stage where the industry can look to blockchain and any viable opportunities it might hold for the space,” he said.
The GamCrowd Blockchain Report is aimed at proving an overview and genuine insight first, into what blockchain actually is and what it represents in terms of disruption across many sectors, and second, gives ideas of how it might affect the gambling sector. The companies we talk about in the report – whether it is Gnosis and Augur in the prediction markets, Gulden in P2P betting, Quanta in the lottery space or CoinGaming.io and OneTouch.io in the ProvablyFair arena – are just the tip of the iceberg.
We know that the casino space has already seen an influx of Bitcoin casinos – the kind of influx which reminds commentators of the original rush to online casinos back at the turn of the Millennium – but other areas are also attracting a lot of interest, particularly eSports where there are a number of start-ups already working on blockchain-based solutions, including GameBet, and PVP.ME to name just two we have heard of lately. More will be coming from this area.
GamCrowd is all about innovation in technology and there is potentially no more exciting area than blockchain. Bitcoin and everything it promises in terms of cheaper and frictionless payments is only the start of the disruption.
As the GamCrowd Blockchain Report points out, in terms of immutability, security, anonymity and transparency, the removal of intermediaries, and it properties in relation to validation and authentication, blockchain promises opportunities across the sector that will do nothing less than change the way the gambling business operates.
As Travia at Coinsilium says: “We will likely get to a point where blockchain solutions have touched humanity on all levels of interaction: individual, community, country and internationally. It will have affected all walks of life from developed countries through to third world economies. It will be implemented by all major industries from shipping to finance to charities all the way up to international government organisations.”
That is revolutionary.