How the Blockchain Technology is changing the iGaming Industry in 2019

Faireum Official
Jun 11 · 3 min read

With online gambling expected to reach US$59.79 billion market value by 2020, Asia is becoming the fastest growing iGaming market will surely undergo a transformation.

We are witnessing new use cases for blockchain technology each day. And they have far outgrown the original cryptocurrency bitcoin and the financial services sector.

Agriculture businesses, energy companies, and supply chain are integrating blockchain into their operations. Now, another high-performing sector — iGaming — is joining in. Numerous cryptocurrency projects are seeing the entry of some of the biggest names in iGaming into the blockchain sector.

Blockchain technology entering the over $50 billion iGaming market seems like the most logical step given the segment’s resilience to the recession. As one of the few sectors that is actually growing amidst the credit crunch that decimated other industries, iGaming is adapting to new software, new platforms and new applications that address the increasing trend of iGaming. Coupled with the upward trajectory of cryptocurrencies since 2017, iGaming truly is shaping as the most profitable and the most competitive sector.

The global online gambling market is anticipated to generate revenues of more than $74 billion by 2023, growing at a CAGR of approximately 10% during 2017–2023. Blockchain technology is allowing development of cost-effective DApps and mobile applications across the US, the UK, Italy, and China & SAR countries, helping vendors generate higher revenues in the global market. The dynamic changes of lifestyle, improvements in the living conditions, high-spending sentiments, and rising awareness of the latest technologies will drive the evolution of the market. We are witnessing the iGaming and gambling sector enter a new phase of digitalisation and growth thanks to new technologies.

The upward trend of the iGaming market is also attracting new investors in lucrative startups and cryptocurrency markets. Amidst the evolution of the global iGaming market, now is a good entry point for people who want to grow their investments through a safe, proven model with high potential ROI.

With online gambling expected to reach US$59.79 billion market value by 2020, Asia is becoming the fastest growing iGaming market will surely undergo a transformation.

Projects like Faireum present a unique opportunity for entry into the growing iGaming market as they fill a segment need for both DApp developers and users to connect without middlemen. By leveraging blockchain as a development platform for gaming companies and individual developers, Faireum is expanding the iGaming industry’s reach. A proprietary blockchain and a set of protocols allow developers to create their Dapps compatible with all of the WASM blockchain contracts written by high-level programming languages.

An already existing MVP that can be accessed at https://faireum.com — Faireum is an operational business, with fundamental structure. Meanwhile, the platform will be integrated with the Faireum token soon and bring the best experience to every player.

Faireum Official

Written by

A Fair Gambling Blockchain Network for All | Visit https://faireum.io to learn more.