Technology drives innovation in just about every industry. This is no truer than in gambling. Perhaps the biggest shakeup in recent years was the arrival of the internet. The global information network allowed casino operators much greater reach into potential players’ lives than ever before.
Innovation has hardly slowed since. Advances in payment technology have meant players can deposit money using many new and convenient methods, the evolving skill of web developers and the tools they use mean games are ever more engaging, and the proliferation of the mobile phone and roaming data means almost every individual now has a casino right in their pocket.
Recently, another new technology has grabbed the attention of casino software developers. Known as blockchain, it’s a major breakthrough for applications that can only function with trust between participants. It may eventually see the casino remove itself from gameplay altogether and allow players to enjoy a much greater opportunity to win.
What is a Houseless Blockchain Casino?
You probably already know what the “house” is. It’s a term used to describe the operator and host of casino games. To ensure a viable business, the casino runs games with a “house edge”. This sets the casino versus the player, which is an odd business arrangement. On the one hand, the casino needs the players to lose. On the other, it needs them to have fun whilst they’re losing so that they continue to lose and keep the business profitable.
Almost all games have some house edge at traditional online or brick and mortar casinos – a notable exception is poker. Poker is played between the players themselves. The casino takes a percentage of each pot but is not actually involved in the game. In this instance, the casino really doesn’t care who wins because they make money either way.
Blockchain, meanwhile, is a distributed data storage system. You can think of it like a fancy database. Authorised users of a blockchain network…