2017: Second Era in Bitcoin Gaming
2017: Second Era in Bitcoin Gaming
In 2016 Bitcoin experienced its second birth. “Second Era of Bitcoin” is what they often call it in mass media. A couple of previous years turned out to be quite frustrating to the supporters of Bitcoin, and the crash of major cryptocurrency exchange demotivated new businesses to adopt and invest into the new technology. However, Bitcoin suffered but wasn’t killed. It took its time to strengthen its technological base and together with blockchain proved to be the most reliable cryptocurrency. The trust of businesses and users is back.
Since 2009 the number of daily Blockchain transactions has grown from one hundred to over 250,000 transactions per day. In 2016 BTC to USD rate grew from 400 to 1000. How is Bitcoin spreading to the masses so fast? Mass media is playing an important role, covering frequent price surges, changes in governmental regulation, telling about new merchants adopting bitcoin, etc. UK Gaming Commission gave green light to casinos uder its jurisdiction to accept Bitcoin and process cryptocurrency transactions. Just think about the fact that Mercedes, Microsoft, Wikipedia, Reddit, T-Mobile, Lionsgate Films, Tesla, Virgin Galactic, to name just a few, have opened up for Bitcoin. Bitcoin is also penetrating small businesses: many shops and cafes across the globe open up their doors to clients with Bitcoin wallets. This fact definitely contributes to the credibility of Bitcoin as payment method.
Igaming industry has always been in the forefront with Bitcoin. Satoshi Dice, probably the most popular Bitcoin game ever made, was launched in 2012 and sold for $11.5 million in 2013, and such a large-scale acquisition in the Bitcoin world was a real hype. People realized that Bitcoin is something important and that it can be compared to, if not completely replace, the real money. However, Satochi Dice did not quite succeed in bringing the cryptocurrency to a bigger audience and remained just a popular game in the minds of those who care about the history of Bitcoin.
The global role of spreading Bitcoin to the masses belongs to other companies in the igaming industry, and I can proudly say that SoftSwiss is a real pioneer in bringing Bitcoin into the software for online gambling. From the very beginning, we realized that those two were a perfect match. Both players and online casino operators, being on the opposite sides of the game, voted for the cryptocurrency and admitted it has a number of vivid advantages over fiat money. Irreversible payments are good for operators as they help avoid fraudulent cashbacks. Players admire Bitcoin as it allows for instant payments and there is no need to wait several hours or days for the bank to approve and process a transaction. As far as privacy is concerned, Bitcoin brings it to a much higher level. The last but not the least, Provably fair technology makes online casinos totally secure and serves players’ interests as an insurance against cheating. SoftSwiss invested a lot of time into the research and implementation of Provably fair into the traditional online casino games, and we really brought it to perfection.
We were enthusiastic about the cryptocurrency from its very birth and supported it during the hard times, and now we see the return on our investments. The list of online casinos powered by SoftSwiss includes over 30 successful brands accepting both fiat and
crypto-currencies. We managed to monopolize the B2B market, and the most successful Bitcoin online casinos which used to operate with competitors’ platforms migrated to SoftSwiss software to rise to a whole new level of business. The names speak for themselves: Bitstarz, Betchain, mBit Casino, leaders in Bitcoin gaming, work with our platform.
I’m very excited to be standing on the brink of the so-called fourth Industrial Revolution and realize that the job my company is doing - development and promotion of Blockchain and Bitcoin as the most innovative technologies of the XXI century - contributes to this revolution. It is obvious that neither small businesses nor large corporations can ignore the existence of the cryptocurrency and its growing significance. Bitcoin has no other options than continue to grow and conquer further markets, convincing governments that potential benefits and opportunities it offers on the global level outweigh any possible hesitations and are worth giving it a try.
SoftSwiss is exhibiting at ICE Totally Gaming at Stand S1-204. Click here for more details.
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