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How blockchain can help revolutionize the gaming industry

The game of chance is one of the most valuable sectors in circulation with a market capitalization that is expected to exceed $ 520 billion by 2023.

Just like any other important industry, new technologies infiltrate the gaming industry and offer future opportunities and open up new markets. It is therefore not surprising that countries such as Malta offer a legal framework for gambling companies to start working in European territory.

In addition to cryptocurrencies, as a means of payment, the same blockchain technology can bring significant transformations in the existing gaming industry.

A prime example of how the blockchain can be used to revolutionize the gaming industry is betbox.

Betbox is an online application designed to function as a high-tech betting platform based on the Ethereum Virtual Machine.

Betbox app users can bet on events that are listed on the platform and even create individual events by themselves. Events can be private for a selected public or shared in public so that anyone can participate.

In addition to betting events, betbox users can also list personal challenges within the platform, so that other users can bet on whether the challenge will be met or not. In addition, betbox aims to provide futuristic capabilities to entertain its followers and give them the chance to secure gains or win a life-changing jackpot.

Using the blockchain technology, betbox aims to store all the information related to bets and votes in the decentralized locations, thus providing transparent and secure data on each bet. (Try the MVP now on www.betbox.app)

Betbox also guarantees secure payments within the platform by providing decentralized portfolios that will be linked to user accounts. The betbox coins, which are used to power the native OX chain, ensure a smooth flow of payments within the betbox platform and also make it convenient for users to make quick bets. But not only betbox coins can be used to participate in events. The ecosystem is designed to allow bets with other currencies and also with FIAT in the future.

What does Blockchain mean for the gaming industry?

As mentioned in the beginning, the gaming industry is among the most prosperous global industries.

With the introduction of the blockchain in the game of chance, more people will be interested in trying their hand at gambling and betting, thanks to the transparency and security offered by blockchain.

Betbox is one of the best betting and betting apps supported by blockchain and offers a completely legal, convenient and secure environment.

As blockchain becomes more and more important everywhere, we will certainly be able to see more platforms like betboxes that incorporate the features and efficiency of blockchain in the gaming industry. But will there be space next to this industry leader?

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