Blockchain has been around for quite a while now. As time passes, this technology is only consolidating its authority. It is slowly becoming a key technology for many industries of the future, and currencies like Bitcoin are becoming widely accepted, even by major companies like Microsoft, Starbucks, and AT&T.
But, all of these implementations are only a rather recent development. In the race for blockchain adoption, a few industries acted way faster than the ones mentioned above. We’re going to cover the three industries that contributed considerably to blockchain adoption in the early days.
Gaming is one of the first implementations of blockchain in something other than cryptocurrencies. This is thanks to technology’s peer-to-peer functionality and underlined anonymity. This is preferred by many gaming niches, including gambling. But, blockchain gambling is a bit different from the classic one.
Classic online gambling is closer to land-based gambling. You’re able to find a lot of casino games like poker, slots, roulette, and many others that would traditionally be featured in a regular Vegas casino. Slots like Book of Ra, Sizzling Hot, and Lucky Lady’s Charm are very popular both in mobile but also desktop casinos.
A lot of these casino games also have dedicated mobile apps that bring gambling closer to the user. You can find countless examples on Google Play but also iTunes. However, blockchain gambling differs a bit. Most blockchain casinos only have desktop or browser versions, and can’t be accessed through a native mobile app.
Blockchain casino games also take a different stab at gambling altogether. Whilst they feature slots and other classic casino games they don’t have any recognizable titles. But, they do have a lot of “new age” games that can be very entertaining. Games like Dice, sports betting, and even esports betting are very popular on the blockchain.
Banking represents a key industry that blockchain is set to disrupt. Although many people hoped that cryptocurrencies would replace banking; blockchain managed to find a better use case by supporting banks and enabling them to perform at a new level. Blockchain is transparent and decentralized, making it a great addition to banking.
Ripple is a network that was first released in 2012 and aimed to improve banking. Global transactions are inefficient and take a lot of time since they go through multiple banks. But, Ripple enables banks to perform borderless real-time transactions. The project supports over 300 financial institutions in 40 countries, including American Express and Money Gram.
Every retail company is competing right now to develop a better system that’s getting more people through the door and creating an advantage. This only leads to more digitalization, the creation of retail apps with useful customer features, and even the adoption of blockchain.
As mentioned in the introduction, more companies are accepting Bitcoin nowadays, even major brands like KFC and Burger King, in certain countries. Bitcoin is kind of notorious for being slow but its Lighting Network is meant to fix all of these issues and set it up for retail mass adoption