Blockchain will disrupt egaming in 2018
Anthony Ure, head of e-Gaming for the Isle of Man Department for Enterprise outlines his top three industry predictions for 2018, with blockchain set to make the biggest splash
Continued synergy between blockchain and e-Gaming: We expect the e-Gaming industry to continue applying and integrating blockchain technology to various aspects from storing player information to smart contracts.
It is attractive for the industry as blockchain gaming platforms are more resilient to breaches and hacks because there is no centralised point which can be attacked, unlike traditional sites which own or control a server. In addition, it streamlines the system of processing transactions making them more expedient and efficient.
The Isle of Man continues to support and nurture blockchain technology. Recently, it granted a license to Quanta Technology Limited, which operates the world’s first fully compliant blockchain lottery in the world, to operate and develop their business on the Isle of Man.
Increased focus on player protection: The online gaming industry has made significant progress in implementing player protection policies. In fact, it has set a strong example for other online industries in specific areas such as age and identity verification checks.
In 2018, we believe the focus on player protection will continue as GDPR is implemented in May and a result, operators and suppliers change their internal privacy compliance policy.
Also, we expect regulators from different jurisdictions to work with each other closely to discuss themes and challenges, and share learnings and best practice guidelines on player protection.
Continued growth of the Asian market: There is no doubt that the Asian market has been growing at an unprecedented pace over the last few years and this trend will continue this year. This is driven by a large middle-class market and an increasingly tech-savvy younger population in the continent.
Also, the increasing collaboration between East and West, particularly when it comes to football betting, has created more opportunities in recent years. Therefore, the prospects for businesses catering to Asia continue to look bright. As Asian facing operators further expand and develop their operations, they will look towards jurisdictions which provide a robust but fair licensing regime and high speed, high quality technology and infrastructure systems.
