Presented at the 2018 Canadian Gaming Summit by AXES Network, blockchain technology claims to revolutionize online casino transactions’ security. Goodbye to fraud and another money laundering. Currently being tested in Malta, the European capital of gambling, AXES Network is now looking to implement its device in Canada.
After Bitcoin, it’s time to move on to online casinos
Originally promoted in the digital currency industry, this technology could solve many of the problems associated with money exchange over the Internet. The blockchain would allow for greater transparency of transactions in the gaming industry from the online casino side to the player side.
Digital currencies, such as Bitcoin and gaming sites, already share a common history. In particular, Bitcoin’s decentralized, virtual, and almost anonymous nature has converted many online casinos. Today, it is common to find it as a means of payment or withdrawal on gaming operators’ sites.
It, therefore, seems almost logical that a technology that has already proven itself with cryptocurrencies could also be associated with online gambling sites. The blockchain would allow for greater transparency of transactions in the gaming industry. The Gaming Standards Association (GSA) creates a blockchain committee.
Axes Network, CEO Earle G. Hall, has been appointed by the Gaming Standards Association to promote innovation and development of blockchain technology in the gaming industry. For the GSA, this arrangement would mainly ensure the security of players: gaming operators will be more transparent with respect to regulatory authorities, particularly regarding the nature of their transactions.
This is, therefore, excellent news for online gambling enthusiasts: if blockchain technology can impose itself on Canadian online casinos, then players will be able to have the certification to play on secure sites. With online scams being so prevalent, perhaps we are finally witnessing a revolution in online transactions?