The latest game industry news has come with the introduction of blockchain technology in the sector. The blockchain technology is said to have a wonderful potential to bring on unique modifications in the gaming industry. To utilize the best of its potential the Gaming Standards Association (GSA) has granted risk assessors BlockRe to go on with a trial on risk assessment framework.
This framework has been adopted in order to understand how well this technology can fit in the context of the gaming industry. GSA approved BlockRe-developed framework to simplify and review the understanding of technology and how this can be brought into the mainstream without affecting the existing business.
The official announcement of the game industry news was unveiled recently that highlighted the risks involved in the blockchain powered apps that the industry regulators and agencies must consider before establishing. Indeed, the risk assessment framework is crucial even if the technology offers many advances, it still is considered an emerging technology which is in development mode.
BlockRe has already done the blockchain deployment in the finance domain and hence it has proved itself successfully in that framework. Perhaps, this gives some assurance to the gaming companies. However, nothing can be said about how successful it is going to be in the case of the gaming industry as mentioned by GGrasia.
GSA president Peter DeRaedt stated that the association is keen to understand the use of BlockRe’s assessment framework which includes risk mitigation strategies, technical guidance, and related regulatory regimes. He added that the association is looking forward to what value this can add to the gaming industry.
Blockchain was initially created as an underlying technology for cryptocurrency but it has gone far beyond as a medium of exchange. (Via GGRAsia)
Benefits Of Blockchain In Gaming Zone
GSA has already created a technical committee which is evaluating the blockchain advances that can help in maintaining the established standards of the gaming industry. This framework assessment is likely to bring in a massive change in enhancing, security, transparency and data sharing of the gaming sector as updated by game industry news.[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. ]