Does the word Blockchain mean anything to you? That likely depends on how much experience you have of the world of Bitcoin and cryptocurrencies. There is so much to know and discover about this world, and the Blockchain only scratches the surface. But, you should know that the Blockchain is one of the most important elements in the Bitcoin universe.
For this reason, it seems inevitable that it would eventually start to affect the casino industry. Bitcoins have already started to make their way in the world of online casinos, and the Blockchain is what allows for verification. Let’s look a little deeper.
Simply put, the Blockchain is a system that records peer-to-peer Bitcoin transactions in a transparent and organised way. Everyone can look at the public ledger and see the transactions that have occurred. It is this system that makes Bitcoin a tamper proof mechanism, as it provides evidence of everything that occurs. So, how is this affecting the casino industry, you might ask?
Well, let’s think about what people fear with online casinos. There is always that worry that the odds are stacked against you, and that the casino has an unfair edge. And it has become increasingly difficult over time for casinos to set their customers’ minds at ease. Sure, they can promise people what their house bias is, or what the player percentage works out as, but there’s no way to prove whether this is legitimate.
Well, this is something that is becoming more and more important to people. So casinos are being forced to come up with a way of understanding and working out how to do this. In fact, some casinos have even gone to great lengths to ensure that this happens.
For instance, a new casino called Edgeless Casino has been launched and runs specifically on the Ethereum blockchain. This is most definitely a step in the right direction for online casinos. They have to be sure they present as transparent an operation as possible because this is what customers are looking for. And, since the emergence of Bitcoin and the Blockchain, people are demanding more of businesses and online gambling.