Macroeconomics, Gambling and Crypto: A Perfect Storm? Two small islands are showing us how blockchain-dilbert bitcoin mining legislation can help encourage development that could affect the whole industry.
How Can I Buy Bitcoin? How Does Bitcoin Mining Work? How Do Bitcoin Transactions Work? How Can I Sell Bitcoin? How Does Blockchain Technology Work?
What Can a Blockchain Do? What is a Distributed Ledger? How Do I Use Ethereum? What is a Decentralized Application? How Do Smart Contracts Work? The gambling world is no stranger to disruption. Just as online platforms are pushing aside evocative, casino-based settings, they themselves are starting to face big change.
From technology, we have blockchain. Combine these trends with national legislation and economic strategy, and you begin to see a fundamental shift that has the potential to transform a massive segment of the leisure economy. As an example, this past week U. This enables it to offer real-money betting to most of Europe, and token-based betting to the rest. What makes this noteworthy is the platform’s new crypto token.
A couple of years ago, the company created a platform-only digital token to enable users to place bets on the outcomes of games such as League of Legends. The new version, however, will run on the ethereum blockchain. This means that it can be traded between players, sold on an exchange and converted to fiat money in many jurisdictions. It also points to the emergence of a community of developers that in theory could extend its utility by creating additional apps and add-ons. A more intriguing aspect, though, is the strategy of the Maltese government, and where this could lead.