Applications and Use Cases
July 16, 2018

How Blockchain Will Revolutionise the Gaming Industry

By Special Guest
Egor Gurjev, CEO and Founder, Playkey

Blockchain technology is continuing to become more widely known throughout the mainstream and in part, this is thanks to the suitability it provides the current digital era. One aspect the benefits of blockchain can be profoundly seen and thus understood is within the gaming industry.

Constantly evolving and growing, blockchain technology is the next wave of disruption for the gaming industry. Shifting the industry from its traditional hardware roots, to a cloud-based ecosystem, the use of blockchain technology, opens up a new world of gaming capabilities.

For many, not owning or having access to the correct hardware simply means missing out on playing some of the biggest and best gaming titles available. A lack of expensive, powerful hardware – of which is required to run the games sufficiently – requires a drastic change to the way in which we consume and play videogames. Blockchain technology enables this change. Blockchain allows owners of high-end equipment to ‘rent’ out their servers to individuals who hardware is lacking. This enables all gamers, no matter what specification their hardware, to play the latest video games.

However, it’s not just ease of access that makes the idea of a decentralised gaming system so appealing. Blockchain technology aids in the speed in which the ecosystem can scale and progress. This ultimately puts the power back into the hands of the gamers and out of the hands of the corporations.

The transferring of power back to the user is one of the key benefits of blockchain technology. This creates an ecosystem that is transparent, safe and provides an ease of communication between gamers – without the need of intermediaries. In addition, areas which are currently fragile, such as online gaming security, become harder to intercept and hack thanks to the decentralised gaming ecosystem that blockchain technology can provide.

Not only this, but the technology also aids in the sale of gamer-earned goods – the earning of a reward or item as a result of the time and effort they have invested in to the game, which they can then sell on for a monetary reward. Further integration of blockchain technology and cryptocurrency in to the gaming industry, is to offer cryptocurrency as an incentive to reward in-game achievements. Blockchain makes such payments a simplified process and therefore creates a genuine means of income for those ready to embrace the technology.

However, the appeal of earning from expertise is not the only reason why we should embrace blockchain technology, or why it is the future of the industry. One of the biggest attractions of this technology is the level of transparency it can offer. All parties involved within the decentralised cloud gaming ecosystem are able to see the movements of their cryptocurrency and a decentralised gaming platform, such as Playkey, will depend on the exchange and investment of cryptocurrency - such as the Playkey Token (PKT). By utilising blockchain technology, owners of the token are able to exchange and trade worry-free.

At the moment, it is hard to comprehend the full potential that blockchain technology can bring to the gaming industry. However, it can be said the current known advantages outweigh the negatives. Benefits such as scalability, earning of cryptocurrency and the removal of intermediaries are just a handful of ways in which the technology can add to what is an already booming industry.

Edited by Ken Briodagh

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