Inside Asian Gaming

IAG JAPAN JAN 2019 32 cryptocurrency transactions, is quite simply ground- breaking. Simply put, blockchain is the system that allows the safe recording and transfer of data without the need for middlemen. It’s tamperproof, transparent and irreversible. When it comes to safety and transparency of records, blockchain has it all: fraud, identity disclosure and payment data vulnerability are all solved by the distributed ledger technologies (DLTs) that power blockchain. In their essence, DLTs hold the key to transforming the land-based gambling industry by facilitating products that are faster, more transparent and more secure. Currently, casino operators deal with an operational process that requires the physical creation and distribution of gambling chips that are used on gambling tables and are then converted back into cash when a player’s winnings are redeemed. This process is slow, expensive and insecure. Operators face several risks at every point within the process. Based on DLTs, crypto transactions will become far more frictionless and profitable to handle than traditional fiat – making it a far more attractive prospect for gaming operators and players alike. As we currently stand, many land-based casinos are suffering with falling revenues because of increasing competition and saturated markets. It is undeniable, however, that land-based casinos can always provide a better gambling experience than their digital counterparts. As anyone who has watched James Bond can attest, there are few experiences that can match the adrenaline thrill of playing at a real gaming table in a physical COLUMNISTS