HashCash Breaks into the Gaming Arena with Blockchain
The potential of Blockchain to diversify the online gaming sector is immense, and HashCash is facilitating gaming companies to incorporate the technology into their existing platforms.
HashCash is working with leading gaming companies to set up blockchain networks and digital assets that integrates with their existing gaming platform APIs. The native digital asset is used as a Play chip across the concerned gaming platform, and the asset is then listed on various digital asset exchanges for trading globally.
This digital asset created will be considered a utility asset because of its usage on gaming platforms, and not a security.
Third generation blockchain has come a long way from just cryptocurrency and finance, and is now robust in almost every prominent industry – diamond mining, export and import of goods, medical research, pharmaceuticals, academics, space exploration etc. Naturally, the 94.4 billion dollar, cutting-edge technology centric sector of online gaming had to take to it, eventually. While it’s been some time since blockchain made its debut in online gaming mainly in the shape of crypto collectibles, the possible modes in which it can revolution the way people can participate in online gaming is innumerable.
This has motivated leading gaming companies to collaborate with tech firms to incorporate the revolutionary innovation as best suited to their field, pushing the boundaries of some firms that has till now remained firmly rooted in finance and banking. HashCash, one of the global leaders in producing White Label cryptocurrency exchanges, is already working with a few renowned studios to explore the fertile field for upgrades and new innovations.
Raj Chowdhury, MD of HashCash, explains “Online gamers are inherently very intelligent, and their minds are always curious to find new functionalities of what is already at their disposal. Integrating gaming platforms with blockchain will provide ways to increase the value of virtual items, create interoperability between games, and most importantly, make online gaming a less expensive affair.”
A gaming platform powered by blockchain will provide a till date unparalleled security and safety. Its decentralized, transparent, and immutable nature will mitigate, if not make obsolete, the chances of frauds and thefts of money invested in the network by participants, their scores, and identities. Home to about two billion users, and a projected growth of revenue to $128 billion in yearly volume by 2020, the stakes of loss are very high.
As popularized by superhero storylines, people have come to expect the parallel universe experience in gaming also, a prospect that could be materialized through blockchain’s distributed ledger. Upping the thrill factor, a gamer’s character or items could be utilized in more than one game as their credentials would already be verified by smart contracts.
A blockchain would copyright your data and provide better storage option, giving it the flexibility to be used in games as digital assets. Gaming companies too could fortify their terms and conditions via smart contracts to move toward an increased loyalty across all inter-linked titles, if they consider joining hands to bring the concept of multi-universe to actuality.
Along with the evolutionary possibilities mentioned before, HashCash is actively working to tailor a system that will help regulate the economics of gaming better , afford greater authority and creative license to developers, and make the profession more profitable, while simultaneously making online gaming more exhilarating and engaging for every player.