How Digital Identity Can Change the Landscape of Gaming at its Doorstep
The gaming industry has been booming over the past decade as nerd culture; which was once frowned upon; has taken over the world by storm with the inclusion of Esports allowing passionate gamers to make a living out of playing their favourite games competitively. Gaming has expanded to such a large scale that it now has other elements making it more worthwhile for the casual gamer. Among them are in-game cosmetics and betting on official matches on games such as Dota2, Counter Strike Global Offensive and Overwatch.
However, with each user having their own game accounts such as Steam which may contain hundreds of games, in-game items and money is vulnerable to malicious hackers or just plain carelessness of the account holder. The problem lies in the traditional login method which requires username and password to access the account making it easily traceable for hackers resulting in large losses for the users. Loss of wealth is not the only worry as private information such as credit card details are also in jeopardy, especially in the case of Konami incident.
Undeniably, the old way of accessing accounts has proven to be unviable in terms of absolute security. This is where Xenchain.io and its eKYC makes an impact. Its eKYC solution requires live facial recognition to verify users’ ID or passport to ensure that only the true holder of the account is able to access it without breaches.
Gaming companies usually allocate a large budget for their customer service segment for users who have lost their accounts; either due to it being stolen or just having forgotten the password. These gaming companies can now reinvest that money into making more games instead of helping hundreds of gamers retrieving their accounts! (We need more games!)
As many cryptocurrencies have stepped into gaming such as Refereum, removing the middleman for in-game transactions as well as between users can now be done seamlessly without high transaction costs.