The biggest growth came from mobile gaming. In addition, new technologies have the potential to radically build the gaming market and offer new growth opportunities. Blockchain technology has the greatest long-term potential here.
Here are the three ways that the blockchain will change gaming in the future :
1. The blockchain will turn traditional gaming companies inside out
The blockchains are known for bringing decentralization to massive industries. It transfers the power from the centralized organizations (e.g. banks, notaries, game manufacturers, etc.) to the consumers themselves. This is exactly what the blockchain can and will achieve in the game industry.
Companies such as Activision / Blizzard, Electronic Arts, CCP Games and Perfect World currently determine which games are played in the gaming universe. With the blockchain, however, this can turn from companies to platforms where users can decide what they want. This can have a huge impact.
For example, gamers currently have gatekeepers (centralized organizations) that dictate prices, control taxes, censor users, control content, and monetize data. However, with decentralized platforms, consumers can get in touch and act without such intermediaries. This would ultimately give players more control and flexibility in their gaming experience.
2. Blockchain offers cross-platform support
As long as the gaming content is created on a central platform (ie owned by a single organization), there will be no cross-platform support. Facebook can easily prevent gaming content developed for Facebook's own Spaces VR Welt from running on other platforms such as Oculus.
Due to the limited ability of a consumer or developer to use multiple platforms, the game manufacturers have limited the growth of in-world communities. Decentralized platforms with a blockchain, on the other hand, would give players and developers what they really want: more control. Only then will users get the best game for their needs. This is exactly why there are users of games who modify their games themselves - that is, modding!
Chris Vollmer, a strategist in PwC's global entertainment and media business, told VentureBeat last year: "If I were a games publisher, I would work more about social communities, peer-to-peer connections, and a network for a specific object and create more connectedness".if Vollmer said, blockchain-enabled experiences should empower the creativity he thought was necessary.
3. It gives power back to the gamer
Gaming experiences that are controlled by a central company result in the following problems:
- Control of the rules - artists, developers and consumers can only offer items and services that are approved by the platform owners. This has also resulted in a black market in many digital worlds, ostensibly worth over $ 6 billion.
- Control of Transactions - Nowadays, users are unable to capture the full value of their actions due to transaction costs. For example, Second Life charges a 5 percent fee to users for every item exchange in the game.
- Access Control - Centralized platform operators can deny access to any user at any time and at their own discretion.
- Control over the in-world currency - For currencies within a game world, gamers are exposed to the game manufacturer's monetary policy. You have little or no insight into the future development of the in-world currency. The game manufacturer can therefore decide how the money in the Blockchain game development and how much it is ultimately worth. Supply and demand that time not determine the price here.
There was a time not long ago when the barter system was brought to an end with the advent of gold.
It also led to hoarding and became the de facto means to establish one’s net worth.
This continued till the time they found all the disadvantages of gold including the liability associated with storage, transport, and ownership.Remember stories of caravans being robbed midway into the journey with women laden with gold being the prime target?
Paper currencies tied to gold standards were the next invention where each paper note/currency guaranteed a certain quantity of gold.Everything was fine till the time people understood that gold was a limited commodity and made it difficult to keep parity with paper money for all times.
This became especially acute in times when economies started to boom, and the governments had to print notes to keep up with the demand for money.Gold couldn’t keep pace, and in the year 1929 at the end of the Great Depression, the world finally broke free of gold parity and established the system of fiat currency that was printed at the beck and call of individual governments worldwide.
Each currency’s value was determined by various factors including GDP growth rates, rates of industrialization, status of industries and infrastructure, intrinsic worth of economies and the likes.With each country having its own currency, there was felt a need to bring parity to worldwide transactions that to an extent was brought about by the Breton Woods system in 1944 where signatory countries agreed to a complex system of recognizing each-other’s currency via the USD which was tied to gold.In 1975, the US government being the main player unilaterally pulled out of the system by terminating the USD’s tie-up with gold.
Blockchain in Financial Sector:The blockchain is being the guideline for many debates and evaluations about the future of the blockchain in financial sector.
What is very clear is that it is a concept with the potential to change market logic and create new business opportunities.
The blockchain can be defined as a digital system of nodes that operate in parallel and allow self-certification and information exchange.
Technically it is a process of adding cryptographically signed blocks of data to form perpetual and immutable records.
This system is based on parallel and simultaneous information processing, being extremely secure.
The data of the transactions after being registered cannot be falsified or erased, and they are stored in a history that contains all the operations since their creation.
Yes, Today we are going to discuss about the concept “Blockchain In Telecom Industry” .
We already know that Blockchain have started to transform many industries like banking, SCM, Fashion, Food, Medical and so on.
Existing problems in Telecom Industry
( i.e) the number of mobile internet users in India is about 358.46 million people (2018) This would increase in count furthermore, so as of 2021 the count will be nearly 462.26 million.
Based on the market share and customer base, the list ascends as follow.
Cost per Minute ( Acquiring charge of connecting STD,LOCAL, ISD calls per Minute)
Ready to build a proof of concept for your business's blockchain initiative?
and Why Companies Should Build a Blockchain PoC in 2018 and How They Should Do It.
Curious to learn what all its latest release ‘TRON 4.0’ brings for all?
If yes, you have landed at the right place.
This article provides an overview of TRON, explaining it already existing upgrades and finally focusing on the latest version of TRON.Read More: https://bit.ly/3iYq63T
