Could Blockchain be One of the Next Biggest Innovations in the Gaming Industry?

While blockchain technology is nothing new, there is definitely still some scope for it to be developed and used throughout multiple industries. One such industry where it could really cause some innovative actions is the gaming industry. Let’s take a look at some of the changes that could arise here.

What is Blockchain?

Blockchain is a digital database of different blocks, each one representing information. Since blockchain technology is frequently used with cryptocurrencies, the blocks will often carry details of transactions.

The beauty of a blockchain system is that it is incredibly difficult to edit. This is done by placing a little bit of the information in one block into the one that is before it on the chain. If you were to edit the block in any way, you would then have to alter the one before it. In turn, you would then have to edit the one before that, and the one before that. This computing power simply does not exist, and it helps to make the blockchain one of the most secure ways to handle transactions online.

How Can It Help Gaming?

Many games nowadays feature some sort of transaction within the game. A lot of popular multiplayer games feature “skins”, allowing you to customise the appearance of your character, and some people have made businesses trading the skins outside the game for money. This is often not allowed, and many game developers are attempting to put protections in place to limit this sort of trade. By introducing blockchain, these companies would be able to weed out the fraudulent traders and direct players back to legitimate ways to earn their skins.

It would also help many sites give their players peace of mind that their financial details would be protected. Sites such as Unibet already have some excellent player protections in place to ensure that their customers’ details are encrypted and safe. However, the introduction of blockchain could be the next step that is needed.

Bringing Forth Decentralisation

A key component of any blockchain technology is that it brings with it decentralization. Assets will not be tied to the game or to the developer once earned, but rather to that player. This means that any time and money the players have put into procuring a certain item will be protected.

It will help to create a realistic and working economy within many games. Through this, we should be able to create an attitude to gaming wherein a successful game can be measured by its value to the player and not its revenue-based successes. All of this will work together to create a gaming network fuelled by players who want to be there, and who aren’t bound by the decisions of the creators and developers.

Will we ever see this come to life? With the right forward steps it could very much become a reality. Take a deeper look into the world of blockchain today – it really has the potential to transform the gaming industry as we know it.

Image Source: Pixabay