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HashCash Consultants LLC, a California-based consulting firm, today announced that the company will bring its blockchain-based gaming platform to the UK video game market.
The platform provides a blockchain system that enables video game developers to issue reliable digital currencies and track game elements within a secure ecosystem. This allows a game developer to create their own currency for microtransactions, a common funding method to play for free and more easily allow currency trading between different games on the same platform.
"Distributed distributed technology facilitates the interoperability of gaming items, which are sometimes valued at thousands of pounds," said Raj Chowdhury, general manager of HashCash. "This can be instrumental in creating a multiverse experience."
To enter the UK market, HashCash has partnered with a still undefined "leading video game maker" that will be provided with the highly customizable blockchain gaming platform of the company.
According to HashCash, a June 2018 survey revealed the UK market as a rapidly growing gaming industry, with 2,261 established gaming companies. Approximately 32.4 million people in the UK played video games and spent $ 6.43 billion in these games in 2017, 12.4% more than in 2016.
HashCash has a strong presence in the financial sector where the company works on platforms that require maximum security and trust. Using blockchain technology, HashCash has provided platforms that can exchange and track money or digital titles. This would be a fundamental skill for the creation of digital currencies and ecologies of localization of virtual objects for gaming companies.
Blockchains automate many parts of currency transactions and do so in an anti-tampering system. As a result, they are often sought after to help reduce operational costs associated with managing currencies while at the same time reducing errors and fraud.
"This is just one of the many ways in which blockchain can revolutionize the way we live games today," Chowdhury said of the capabilities of the company platform.
The trend of the gaming industry that has been working with blockchain companies has been growing for some years. For the most part, blockchains are implemented to provide a framework for digital currency and digital commerce, and as a result, the Gaming Standards Association announced a technical committee to publish standards in February 2018.
Since then, startups have continued to form gaming platforms such as the EON Foundation, the Chimaera of Typhon Ltd. and the partnership of Razer Inc. with Gamma Innovations Inc. The trend has become so saturated with interest for the video game company Atari SA has collaborated with Animoca Brands Ltd. to put "RollerCoaster Tycoon Touch" on the blockchain.
Image: HashCash consultants
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