A financial service blockchain developing and consulting firm, HashCash, has disclosed that it is working with top-tier gaming companies. Indeed, it has become expedient to establish blockchain platforms and cryptocurrencies that are compatible with current gaming platforms’ APIs. So, this move will spur on more industry players to use native digital assets as play chips across gaming platforms. In addition, they will still use the tokens for trading on cryptocurrency exchanges. Going forward, the strategic business alliance will see to it that more utility tokens serve as gaming play chips and not necessarily securities.
The Role of Blockchain in Gaming
Unarguably, the third-generation blockchain has left indelible footprints on the crypto landscape with its ubiquitous use cases. Sure, more and more industries now see the need to integrate the blockchain into the baseline business processes. From diamond mining to pharmaceuticals, academics to medical research, space exploration to export and import of goods, it is making generational impacts. Given that the global gaming industry is valued at $94.4B USD, it is natural that the blockchain is used to develop it. Although blockchain has featured prominently in the gaming industry as cryptocurrency collectibles, it can play innumerable roles. This is the motivating factor behind HashCash’s move. Before now, HashCash had focused on producing White Label currency, but not anymore.
What Should Gamers Expect?
The introduction of blockchain to the burgeoning games industry will be a major game changer. No doubt, blockchain-powered game platforms will become the holy grail as gamers will enjoy topnotch security and safety. Moreover, players should also expect a high level of transparency, immutability, and decentralization. All this would effectively rid the ecosystem of theft and fraud. Putting it all into perspective, it will become disastrous for the gaming industry to go any further without the gains that blockchain technology offers. Presumably, this will make more sense when one tries to understand the huge amount of betting that goes around the gaming circus. Indeed, expert projection estimates that the industry is home to some two billion users. Moreover, its forecast projects that the industry would control an annual revenue of $128B USD by 2020. From the onset, going without blockchain means risking too much.
The Role of HashCash
Blockchain will copyright user’s data as well as provide better storage capabilities for safeguarding and maintaining such data. It will also introduce flexibility in gaming. Needless to say, blockchain will enable gaming companies to fortify their terms and conditions using smart contracts. It is no wonder that HashCash is working around the clock to build a system that will better regulate the economies of games. The company also aims to create a license for developers to make gaming more lucrative. And to the players out there, HashCash wants to make your favorite hobby exhilarating and engaging.
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