When Stuart Haber and W Scott Stornetta mentioned a cryptographically secured chain of blocks for the first time in 1991, no one would have thought this innovation would take our technology development to a brand new level.
So, if you’ve had an interest in funds and the stock market in the last few years, you probably know the blockchain is an underlying technology behind all cryptocurrencies. In the end, this technology is what allows many clients to reach consensus without having to trust each other.
However, blockchain technology indeed played a part in the Casino sphere. As you might have noticed, many casinos are now moving online. There’s simply a demand for it: people want to gamble from the comfort of their own home.
Nevertheless, Casinos had quite a trip down the road when building a place where it’s possible to gamble online. And blockchain is becoming a part of such casinos more often these days.
So, how are these two related?
The main reason why online Casinos implement blockchain technology into their casinos is transparency. By switching to the blockchain, profit is still made. Not only does having blockchain in your Casino attract more and new customers, but it also helps to revolutionize the industry altogether. Revolutionize in a good way, of course.
Blockchain allows to guarantee full transparency to the gamblers: there’s a possibility to implement a smart contract two players can use with each other. What’s also really attractive to the customers is money transfer. With blockchain, the funds will be transferred as soon when the result is final.
After all, trust is the ultimate factor that leads customers to come back or not. And many ethical Casinos are aiming precisely for that – safety and trust to provide to their clients.
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