The blockchain is a dynamic technology with a vast potential but is yet to find a proper direction. Can mobile gaming industry serve as “killer app” for this invisible technology that many consider as the fourth innovation? It is a known fact that from the healthcare industry to shipping and logistics almost all the fields are somehow trying their beta-testing and pilot programs.
Until now, it was a common notion that finance is that killer app as digital currency like Bitcoin (BTC) running on the blockchain-based platform has become extremely popular in the past couple of years. However, the speed of adoption of blockchain in this field has also stuttered as the finance sector is fighting against bitter barriers like institutionalization and regulators.
It has been used successfully as intermediary-based operations in elections and supply chain management. But none of these fields have implemented blockchain wholly so that mass adoption of this technology as one of the most efficient alternatives becomes possible. The field that really takes blockchain forward must solve the basic issues of understanding and acceptance of this technology.
It is where gaming can make a real difference as the mobile gaming industry shows the potential to adopt blockchain completely. With gaming being a global phenomenon, it has almost similar features as blockchain technology being on the threshold of exploding and with more potential to offer in the future, Forbes reported.
Importantly, gaming is a sector that is being run by people who are predominantly young and have a technological inclination. Just as the mainstream is unaware of the gaming economy, same is the case about the understanding and approach towards blockchain. According to blockchain gaming platform Xava’s Andrew Colosimo, gaming could be the force that can drive blockchain over the edge. He believes that gaming can go a long way in preventing fraud when it comes to lower commission fees and payments and enhance the overall gaming experiences for the gamers, ETF Trendsreported.
While discussing his views on blockchain’s possible contribution to the mobile gaming industry in the future, Colosimo said, “Blockchain from our point of view is not going to take over the gaming industry completely but open new opportunities and a new genre of games. That being said, as the technology matures it could be that in five, 10 or 20 years, every multiplayer game, payment systems and assets are stored and run on the blockchain, but certainly not in the near future.”[The views and opinions expressed in this article are those of the authors and do not necessarily reflect the views and/or the official policy of the website. ]