In an exclusive interview with European Gaming, Bullen claimed the mentality of certain people was holding it back from the masses.
The CCO of DAOGroup, a gaming cryptocurrency and blockchain solutions provider, said:
“Yes, it is attainable [wider crypto adoption], but various ways of thinking need to be reset for crypto adoption to reach its potential. It’s likely not a gambling industry-specific mentality, but too many look back at setbacks in the space and cling onto them as proof that crypto doesn’t have its place in today’s world.
“This is naïve when you consider the various success stories that crypto has in engaging those who cannot access credit cards, those who may not trust the status quo and those who just want to be a little more progressive.
“I would like those doubters to take a deep breath and revisit what crypto adoption can do for the gambling industry.
As well as challenging the industry to revisit cautious stances on cryptocurrencies, the gaming veteran admitted it was time for iGaming to up the pace when it comes to its decision making or risk falling behind.
“We hear so often that gambling as an industry is an early adopter for new technology. All the while however, there’s untold examples of cautious decision-making and sluggish, suspicious adoption of tech that could have major benefits to the whole ecosystem.
“There is no doubt that the payments sector is impacted by this paradox, and the utilisation of crypto is a key example. Operators demand access to new markets and new player bases, and there is a crypto market hiding in plain sight, waiting to be serviced. They must take advantage of this opportunity, or they will fall back against their more forward-thinking competitors.”