The Future: Casino Gaming on Blockchain

The Future: Casino Gaming on Blockchain

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Andrew Zapotochny
04/15/21 9:09 PM 2021-04-15 21:13:40
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The Future: Casino Gaming on Blockchain So many things have changed because of the coronavirus pandemic; and one of these is casino gaming. Gone were the days where people flock to casinos to chall

The Future: Casino Gaming on Blockchain

So many things have changed because of the coronavirus pandemic; and one of these is casino gaming. Gone were the days where people flock to casinos to challenge their luck. Instead, people now go online to place their bets and play their favorite casino games. The influx of users online have generated a massive amount of data that regular websites cannot handle. There is also the issues of security and double spending as real money is being spent online. Enterprise blockchain Bitcoin SV (BSV) provides the solution to all of these issues. 

What is Bitcoin SV and enterprise blockchain?

Enterprise blockchain is what Bitcoin SV has developed upon which businesses can build various applications and platforms. SV stands for Satoshi Vision. Satoshi Nakamoto is Bitcoin creator and author of the white paper, which laid the groundwork for Bitcoin. Bitcoin SV has successfully restored the original Bitcoin design and has stayed true to its vision of providing businesses with transparency, accessibility, security, scalability and immutability of data. 

The BSV blockchain is equipped to handle big data in the most secure way through its decentralized and distributed network. This means that the BSV network is composed of nodes managed by miners; and each miner has a copy of the blockchain. So even if a problem arises with one miner and it suddenly goes off the grid, the network will not be affected as all data is still stored in all the other nodes. This is what makes Bitcoin SV economic and creates an endless potential for use cases. 

Online Gambling on Blockchain

International gaming company BitBoss has recently released the first blackjack casino game built completely on the BSV blockchain. This is only the beginning as enterprise blockchain is the new technology that will become a necessity for many industries, much like how the Internet has done in the past.

“Because blackjack is a multi-action game; choosing to buy insurance, doubling, splitting, standing—every action is recorded as a blockchain transaction. This has a ton of benefits because everything is provably fair, you don’t have to build off-chain technology and try to scale it. Everything is on the Bitcoin SV blockchain,” BitBoss CTO Alex Shore said.

“It’s a public ledger and that’s the joy of it. We’re not trying to create something that’s secretive and behind-the-scenes, we’re trying to create something very public and very useable so that new business models can come about,” BitBoss CEO Matt Dickson added.

Aside from providing fairness and transparency, blackjack on blockchain also generates real-time metrics and insights that help both players and operators manage their casino gaming experience. 

“A casino operator managing problem players can do that with a client-server and database system as well as a blockchain system. But with a blockchain-based system, you can say to a regulator, “Go look at this casino operator’s player transactions and see for yourself what’s going on in real-time”—not as part of a monthly report from the operator, but in real-time. The regulator also has the certainty that the records they are assessing are true and complete, with no room for an operator to alter or exclude records,” Shore explained.

With this kind of system in place, it is a no-brainer to say that online gambling on blockchain is the future casino. 

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This article is not a direct offer, recommendation, or endorsement of any products, services, or companies mentioned. Blockgeeks.com does not provide investment, tax, legal, or accounting advice. Crypto is risky, do your own research, invest safe.

 

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