Melco’s Avery Palos says blockchain adoption is inevitable

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Updated September 21, 2022 | Published October 6, 2020

2 mins read

In a LinkedIn article, the executive outlined some of the key upsides of adopting blockchain sooner rather than later, such as digital assets that are immutable, verifiable and are the exclusive property of their owners with no middlemen.

Palos found such currencies and assets particularly apt for the Internet age where a new generation of consumers has come to be.

With land-based operators making the shift towards online gaming, Palos observed, many companies would think to adopt blockchain right away.

Of course, he acknowledged some of the inherent challenges, such as opening an account at a cryptocurrency exchange and using a credit card to purchase crypto.

However, these challenges are slowly going away, he added.

One of the best aspects of going digital with cryptocurrencies is that it's easy for consumers to become shareholders and benefit from the house edge.

Projects such as Wink and BetFury have already introduced a similar revenue-sharing model, for example.

Palos further believes that the blockchain experience can be morphed into pretty much anything. With the casino industry on the cusp of adopting more advanced technology, such as augmented reality and virtual reality.

Already, the gambling industry is seeing a high rate of adoption insofar as cryptocurrency is concerned.

Entire websites are built on blockchain technology and are now established household names in the industry.

These leaders include Bitcasino, 1xBit and FortuneJack as representatives of the traditional FIAT/crypto branding mix.

Yet, there are full-fledged blockchain projects, such as CasinoFair and Fun Technologies-powered websites that provide a one-hundred percent blockchain gaming experience.

Love to gamble with crypto? We’d love if you took a couple of minutes to tell us about your favourites in our CGN survey

 

 

Looking for your next crypto casino? Check out: Bitcasino or FortuneJack.

Written by David

Co-founder

David is co-founder of CryptoGamblingNews.com, and has worked in the crypto gambling space since 2015.
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