From the last couple of years, Blockchain and cryptocurrencies have been penetrated to our lives and its presence is very clear. There are various industries where blockchain had helped them to catapult and achieve new heights. Casinos are one of the industries which have not been touched by blockchain and cryptocurrencies. Synergies between the cryptocurrencies and gambling industry are growing day by day. With the coming years, blockchain will totally revamp the infrastructure of the gambling industry.
There are various issues with the current ecosystem of the gambling industry, fair usage, transparency, payments, and fees are a few of them. Cryptocurrencies and Blockchain technologies are becoming a popular solution for all of them. Hiding the data, winning results are very common with traditional casinos. Moreover, they charge hefty withdrawal fees and implementing master and visa card is a very cumbersome process. Now, trusted online casinos are accessible with the help of cryptocurrencies, which can drastically reduce the fees of transaction and processing time. Small deposits and instant withdrawal have made cryptocurrencies an ideal solution for the online gambling industry. It can also help them to gamble anonymously.
Lack of transparency is killing the online casino industry. If casinos are not transparent, building a long-lasting relationship with the customers is very difficult. Gamblers should have confidence that gambling is fair and there is a house to win every time. Decentralization and open smart contract on the blockchain give huge confidence to the customers.
There are various companies who are working hard to implement this solution, Bitwin is one of the companies who had taken the lead to provide transparent and fair services to its customers.
Bitwin is developing the next generation online casino which will eradicate all the issues with the traditional gambling industry. Bitwin’s solution will be built on Ethereum blockchain; it's all transactions, computing and smart contract will be unbiased to give more confidence to its customers.
All gaming rules will be available fairly, which can be seen and verified with the deployed smart contract on Ethereum. Bitwin ecosystem will also employ the Bitwin network to instant payment tranactions. Processing time, near-instant payments and negligible costs, are few features of Bitwin Network.
Blockchain technology was always one of the jackpots for the gambling industry, and Bitwin is one of the leaders in this to take all these opportunities. Furthermore, Bitwin will make online casinos better and different from traditional casinos.
To summarize, it is very evident that the blockchain industry is helping to improve all the flaws with existing gambling ecosystem. Nevertheless, it is the responsibility of all actors in this space to work together to increase transparency and fairness.