Courtesy of: Bitcoinfy.net Why not apply the Blockchain Technology to the online Gambling Industry? For the purpose of helping to improve the reliability and security of their processes, blockchain technology is revealing its heat in the marketplace, since many companies and financial institutions worldwide have adopted this form of technology. Even though the blockchain is applied newly for the online gambling world, majority of the casinos have adopted cryptocurrencies, such as ethereum, and Bitcoin as a mean of payment. By the same time these casinos have even developed their own systems for completing and signing smart contracts. The center of European Igaming, which is none other than Malta, has approved three separated cryptocurrency bills, one of which is the Virtual Financial Assets Bill that provides the regulatory framework for cryptocurrencies and initial coin offerings according to local media. The meaning of this is the usage of cryptocurrencies at online casinos which would be handled and certified. What is the reason for the significance of Blockchain Technology? Applying by means of Blockchain Technology for the online bitcoin gambling arena, the regulators will be able to demonstrate that they are following the rules and it’s fair for the entire customers. It is to be noted that the things may become clear and there will be more players, which results in expanding the casino’s revenue. Besides proving the fairness of the bookie, the blockchain will even assists for minimizing the cheating of the players. By means of on site decentralized ledger technology, the entire winnings will be automatically calculated and the outcome can be clearly seen. For the purpose of monitoring the player’s intentions for manipulating the market, the smart contracts are going to be used. This is deemed as a step for preventing the casino’s losses, that results in bringing huge financial benefits for the gambling industry.less