Adoption of Blockchain in South Korean Gaming Industry
The effort to sustain profitability in the most developed gaming industry is persistent, and big labels are adopting new technology like blockchain to stay ahead of the competition. California-based blockchain company HashCash Consultants is one of the foreign experts who are in talks to officially collaborate with South Korean gaming companies. The company’s focus will be to create blockchain platforms that can be easily integrated with a game’s existing platform through available APIs to enhance its monetization power.
Video games have become a major part of the South Korean social fabric, and its corresponding market is one of the most developed in the globe. The video games sector raked in US$2,389m this year and is expected to grow to US$2,829m by 2022, with an annual growth rate (CAGR 2018-2022) of 4.3%. Role-playing games, FPS, MMORPG, and Mobile games are extremely popular here, and professional tournaments hold high stakes. This has made the necessity for a transparent database for stats, scores, and money transactions in the gaming sphere a thing of high demand.
HashCash Consultants is meeting this demand with encrypted blockchain ledgers to store game stats, game items, and digital assets permanently. The expert team will help create native digital assets or gaming tokens for the video games if it does not already have one, and provide decentralized payment gateways to drastically cut down transaction costs for users. The blockchain infrastructure in line with HC Net will also reduce fraud and end lost revenue by optimized use of its blockchain IO for monitoring the transactions ledger.
Blockchain platforms prioritize security, and HashCash products check every box to ensure this. Security configurations such as IAM, ports routing, IP Tracking, DDoS & Malware protection, Wallet Security using AES 256 & Md5 encryption standard and SSL Configuration are all ensured by the company.
Traditionally, the Korean society was not one to endorse a career in gaming as one to be taken seriously. But times are a-changing, and with the fame and fortune that the gaming profession has brought to the best in this industry, youngsters are investing their time and money into pursuing this profession in a full-fledged manner. The incorporation of distributed ledger technology into this fold is increasing trust in the way contents are conducted and how transaction money is handled by gaming platforms, drawing in more users, even those who might have been skeptical about the authenticity of the industry itself.