Evolution of Blockchain and VR on Online Gambling Industry
Technology always causes change. The internet—for instance—changed way too many things to list in this article. Sure, it takes time for this change to be fully realized but it is almost always inevitable. In our present decade, technologies like Blockchain, IoT and VR are what will probably shape how our world moves forward in basically every field, even how we gamble in an online casino. Let’s have a look at how these technologies will shape the future of online gambling.
Virtual Reality (VR)
Let’s start with the one that is arguably the more mainstream of these technologies—virtual reality. Almost everyone who uses a smartphone must have come around this term at some point in their digital lives. Virtual Reality and VR Headsets have gained a lot of popularity in recent years and there is a reason why.
Since the beginning of written, filmed or online entertainment there was always one problem—the person could never actually enter his source of entertainment. It could have been the best ever written book but the reader could never actually experience the story for them self-firsthand, it could be the best movie ever made but this problem would still perceiver. Even when playing immersive games on a computer or a smartphone, it was still just pressing buttons while looking at a screen.
Entry of Virtual Reality
Virtual Reality offers a level of immersion that is unprecedented. It can literally put you right into a game and help you experience it on a whole new level. Suddenly you aren’t just pressing buttons on a keyboard, you are actually holding a virtual gun in your hand and using it to shoot the virtual avatars of your enemies! All this from the comfort of your home without the presence of any real danger.
But VR isn’t just for action-based games and stories, VR is also a very interesting and possibly revolutionary addition to the world of online gambling.
One of the primary reasons people prefer to gamble online rather going into an actual casino is convenience. Not every city may have a casino and not everyone would be willing to travel a significant distance just to gamble. Online gambling fixed this problem by bring the casinos to the laptops or smartphones of such people and ensure they could gamble as much as they want.
But also, no matter how interesting the game, it was still just on a screen. But with virtual reality, once a person all the necessary gear, they can actually enter into a virtual casino. They can play all the games they always wanted to play in the virtual casino, in a significantly more immersive environment without every having to travel a single inch outside their door.
This is probably the biggest reason that VR is having such an amazing impact on online gambling.
Now moving onto—what could be considered the hottest piece of technologies in present-day—blockchain.
Blockchain may not be the easiest thing to understand in the universe but it is extremely versatile when it comes to its use cases. From cryptocurrency to digital voting, blockchain may very well become the defining technology of the current generation in the same way the internet was for the previous one.
So how does this revolutionary piece of tech fit into the online gambling industry? In more ways than one.
Cryptocurrencies might one day replace all regular currencies when it comes to online gambling as they are significantly more convenient when it comes transferring money across international boundaries. Cryptocurrencies start to look like an even better option for this job when taken into account that countries like India hate when their native currency is used by their citizens while gambling online.
However, blockchain can have a much larger impact on online gambling than just the use of cryptocurrencies.
Blockchain virtually guarantees two things, transparency, and security.
Benifits of Blockchain
A lot of online casinos and online gambling sites have been accused of hiding their internal workings and the methods for their dealings. With blockchain, such accusations can be resolved once and for all as everyone will be able to see exactly what is going on behind the scenes and this will help in preventing fraud and greatly increasing the trust people having these online gambling sites.
Since Blockchain is built with security as a top priority, using it for online gambling with automatically boost the security of the transactions which place on the gambling sites and ensure that all the funds are being exchanged never get hijacked or lost. This will save both the sites and the players from a lot of hassle and discomfort.
These two technologies can together cause a revolution the online gambling industry so much so that one day it may even surpass its offline counterpart. That is the power of VR and Blockchain Technology.