What do top-notch game providers, gambling inventions and gaming boards have in common? The answer is – ICE Totally Gaming 2018! One of the biggest shows in the world of iGaming is where industry’s leaders meet and present new concepts and game-changing ideas. And although blockchain has been around for a while, the future use of cryptocurrencies in online casinos wouldn’t mind some additional regulation. Therefore, GSA used the opportunity given on ICE to make an announcement about forming a new Technical Committee for blockchain. Here’s what it’s all about!
GSA Understands the Rise of Blockchain Technology
Thanks to transparency, safety and incorruptibility, the concept of blockchain attracted millions of online customers ever since Satoshi Nakamoto invented Bitcoin in 2009. From that moment on, Bitcoin and other cryptocurrencies have shaken and amazed the world of finance as we knew it.
In the recent years, it has become almost impossible to come across an average Internet user who is not familiar with at least the basics or fun facts about cryptocurrencies, what they are and how they work. Decentralized digital cash has reached and taken over the popularity of gold and hard cash, which led both players and online casinos to start using it.
The newly-established GSA Technical Committee is supposed to address the blockchain technology and provide advice related to certain standards.
Namely, gambling control boards and authorities round the world have been doing their best to standardize the use of crypto. The latest move going in the same direction comes from the Gaming Standards Association (GSA) and Gaming Standards Association Europe (GSA Europe) which created a new technical committee aimed at setting blockchain standards in the gaming universe.
During over 20 years of its existence, GSA has managed to create 15 award-winning standards in nine committees. More than 1,600 people from over 190 companies took part in developing the standards and contributed to making GSA a reputable institution it is today.
Manufacturers of online slots, suppliers, bitcoin casinos and regulators will certainly benefit from GSA’s mission to define, develop, implement and evaluate the use of standards that should further enable interoperability, innovation, education and communication in the online gambling industry.
Comments from GSA Representatives
“GSA was created to help drive innovation in the gaming industry for the benefit of manufacturers, suppliers, operators and regulators”, said GSA President, Peter DeRaedt. “By creating a new Blockchain Committee, we are once again proving how, by creating a standard way to use technology, GSA is achieving our mission.”
Mark Pace, GSA Europe Managing Director, added, “Many industries are evaluating how the blockchain technology can enhance data sharing security and increase operational transparency. GSA will launch this new committee and evaluate the creation of a gaming industry standard. This is very timely and may have significant impact on how companies can achieve GDPR and AML requirements.”