The Rise of iGaming and the Role of Blockchain in It

iGaming is an umbrella term for games where players offer a set value for an anticipated outcome. Online slots and online poker are some examples of games that fall under this category. iGaming has shown steady growth in the last year, according to new figures. Last year's increase in online activity was more than double the amount compared to.

iGaming market could reach $8.4 billion by 2025, according to a recent report. The Kindred Group owns at least six iGaming businesses, such as Relax Gaming. Gala Bingo's colossal selection of slot games includes well-loved classics like Monopoly. iGaming sites like Bitstarz and Stake accept cryptocurrency as payment. Because it's a type of currency that goes through the decentralized ledger, it can't be counterfeited or double-spent. iGaming regulations on iGaming platforms are still very strict in some states like New Jersey and Pennsylvania. From user safety to better regulatory policies, blockchain has done much to accelerate the growth of the iGaming market. And as new uses for the blockchain are discovered, so will its contributions to iGaming.

Comments

To boost trade, Africa is simplifying international payment systems

It's hard to transfer money between African countries. The Ghanaian king settled a bill with a Nigerian attorney. His experience highlights a systemic problem impeding Africa's economic growth: high transaction costs and inconvenience. 15% of all imports and exports occur between 55 African countries. 60% of Asian trade is within Asia. 70% in EU. The difficulty of international payments hinders African trade. There are also high tariffs, long border procedures, and congested roads. Proponents of AfCFTA say easing trade restrictions will boost trade, FDI, and economic growth. 50 million people will be lifted out of extreme poverty by 2035 due to the accord's positive impact on real income, which is projected to rise 9.1%. Another issue: In Africa, currency values fluctuate. From July 2021 to 2022, Ghana's currency fell from 6 to 8. Volatile currencies make financial transactions more costly and risky. To overcome these problems, PAPSS facilitates financial transactions ...

This summer, the Fed will take another step toward creating a digital money

This summer, the Federal Reserve will publish a research paper that examines the possibility of a central bank digital currency. Multiple countries' initiatives in the central bank digital currency arena, most notably China's, have heightened debate about how aggressively the Fed should act. The Federal Reserve is pushing ahead with its plans to create its own digital currency, stating that a study paper will be released this summer that will go deeper into the topic. Despite the fact that the central bank did not announce any particular plans for the currency, Chairman Jerome Powell acknowledged advancements in payments technology and stated that the Fed has been "actively monitoring and responding" to those developments. In the statement, The proper operation of our economy requires that consumers have faith and confidence not only in the dollar, but also in the payment networks, banks, and other payment service providers that allow money to flow on a regular basi...

Blockchain holds the key to a globally trusted coronavirus vaccine passport

"The idea of a vaccine passport was the reason I first got into the blockchain space back in 2014. The initial vision of how it could utilize blockchain technology was a pipe dream at a time when there was no need for it," says Andrew Weil. More than 4 billion vaccine doses have been administered worldwide. Some governments have opted to implement novel technologies to support contact tracing and keeping immunization records. Some governments have implemented new technologies such as blockchain technology to keep track of people's contact information while others have chosen to use the traditional method of paper records. Amid a growing market of fake vaccine certificates, Travel Pass, Digital Covid Certificate, increasingly aggressive variants, underpinning blockchain. Singapore's Digital Health Passport initiative stores Covid-19 discharge memos, swab test results and vaccination records in a single, secure digital wallet. Smart contracts, pre-encoded with specific...

USFCX_US Foundry Exchange

Search This Blog