Blockchain might have entered into the world scene on the back of currency, but the implications of the technology far outstretch the boundaries of finance. The basic structure of distributed ledger technology is an unparalleled way to ensure the transparent exchange of assets, secure and equal sharing of information and unique ownership of digital information.
All of these benefits can come together to solve long-term issues in the gaming industry. Over the years, online gaming has come under fire for how it handles user data, polices fraudulent behavior and charges its players for services. On top of all of this, the giants of the gaming world are still secretive about how they operate, making many users unwilling to trust their systems.
Happily, it seems like blockchain technology was born to solve the problems of traditional gaming. Here are four areas in which distributed ledger technology is disrupting the industry.
The rise of mobile and other free-to-play games has heralded the arrival of freemium, where games make their money on in-app purchases rather than upfront product costs. It’s a handy way of a wide range of users interested in a game without them having to make an economic commitment, and once they’re invested they have the option to enhance their experiences by purchasing items, boosts and rewards.
The way blockchain can streamline this process is by reducing the need for intermediaries in the purchasing process. A dedicated cryptocurrency baked into the game’s store feature can give players more instant access to the items they’re buying without having to navigate through payment windows or external companies.
A key consideration of lots of online gaming services is allowing privacy for their players, something which is much more easily established with blockchain technology.
“By using a dedicated cryptocurrency,” says Carmen Celecta, a tech blogger at Australia2Write and Nextcoursework, “players are not required to register the same level of personal information that regular banking solutions require. This means that they can feel secure in their anonymity.”
By negating the need for piles of official documentation, blockchain technology can also make online gaming more accessible to new players. Some services can even allow players to try out a game without needing an account, while still maintaining the security of the network.
The gaming industry involves a huge number of online users and digital assets, which means it’s also a hub for fraud. With the various loose threads that traditional data handling entails, hackers can gain access to personal information or valuable player-bought items and take them for their own purposes.
Sheila Mackenzie, a journalist at Write My X and Britstudent, points out that “if there’s one thing that blockchain can bring to gaming, it’s secure data encryption. The very nature of the technology is strength in numbers, making the community its own safeguard against hackers and other cybercriminals.”
A decentralized blockchain network is near impossible to effectively breach, as the database is shared across all nodes. This makes it an ideal technology not only for traditional gaming but for casinos and lotteries that manage user money and random number generation.
One of the downfalls of the move from analog to digital formats is that users no longer truly own their purchases. A far cry from your parents’ collection of cartridges, its hard to ascribe unique possession of online gaming assets, particularly for in-game purchases.
With the arrival of blockchain, however, players can regain ownership of their purchases, even if they’re still digital products. In any blockchain technology, smart contracts are delivered upon purchase and are immutable, meaning they are a static confirmation of unique purchase. This, along with the distributed technology discussed earlier, means that each user has their online possessions recognized by the entire network.
This feature promotes continuity and transparency that traditional models of online asset management lack. It allows players to access their unique purchases anywhere they can access the game and provides open access to all rules and terms of service, again preventing fraud.
This really is the headline of blockchain technology: giving power back to the player. In any industry that truly values player engagement, this is invaluable.
Beatrice is a professional copywriter at Research Paper Help and Academicbrits.com specializing in everything from game design to business development. She is always open to share her personal experience by giving advice to early-career writers at Phdkingdom.com, helping them to create winning content with a unique voice.