A one-day conference featuring Bitcoin Foundation Executive Director Jon Matonis utilized a keynote speech pertaining to investor and entrepreneur opportunity within one of the world’s largest digital currency markets.
The speech covered many topics, including Bitcoin’s potential within online gaming communities and increasing forefront technology within the industry. Since Bitcoin’s incarnation, two decades have received online financial support through the instrument, and UK gaming officials have responded.
Currently, Bitcoin is the world’s leading attention-getter in terms of online currency, and its standout press attention has contributed to its increasing value and volatility. While many fluctuations have occurred, following a 2013 peak price increase of $1,242, its value has declined to $455 per Bitcoin unit.
However, popular gambling games such as craps, poker and blackjack may find use for the currency — effectively boosting its value within online realms while stabilizing currency fluctuations. While traditional gamblers may have trouble adapting, many others have become keen on the increased risk of before-industry price fluctuations. Such risks may increase both gaming excitement and odds.
Reception and Future Potential
The UK benefits from a particularly well-regulated gambling industry and many online segments contain a variety of reputable options for both natives and overseas gamblers. Currently, online currencies and Bitcoin contain a “capped” potential within such industries, as speculative currencies may be considered volatile by gaming experts and regulation makers.
However, the speculative period has created further thought on industry-specific benefits, such as a removed chargeback risk, reduced fraud risk and potential increased value. Such reduced dangers may directly translate into lower operating costs within online platforms — further increasing player value.
Both players and decision-makers have focused upon the digital currency’s future within the realm of online gaming, and its future will likely rely upon adapting industry standards and slow adoption of new fundamentals within gaming features.