Why the gaming and betting industry will be changed forever

Legacy gaming and betting platforms are losing trust because of cheating and greed.

Million dollar cheating no more

The current legacy gaming and betting platforms, in the $3 Trillion industry, have done little to protect their users. Cheating in the gaming and betting industry can lead to millions lost as seen in the image below (Figure 1). [1]

Figure 1

Cheating will be no more because of platforms known as decentralized autonomous companies (communities). These companies are "decentralized" so there is no central point of attack for hackers. They are "autonomous" since the user base, and the platform itself, maintains the network. This is based off a new technology called blockchain technology, which will bring PROVABLE fairness to the gaming and betting industry. Provable fairness through blockchain technology is accomplished by encryption, and verification by the network of its users. The verified transactions and bets can be re-verified by any user, at any time. Those are the same reasons why some of the largest centralized companies in the world like (IBM and Microsoft) are using similar blockchain technology for security, and efficiency, purposes.[2] In the gaming and betting industry, the top contender to utilize blockchain technology is a platform called Peerplays. The world's first provably fair blockchain-based gaming platform using the blockchain technology to prevent cheating, and will include many more innovations.[3] One of the other innovations that Peerplays will have is profit sharing.

Profit Sharing

Not only do the legacy gaming and betting platforms not protect their users, but they also do not share the profits made off that same user base. The gaming and betting industry is again, worth trillions of dollars, so there is plenty of wealth to be shared. Peerplays will treat its user base right, by making profit sharing one of the major incentives of its platform.

The infographic below simply explains the profit sharing, through Peerplays (Figure 2).

Figure 2
Peerplays Profit Sharing-01-01.png

If you have never been to this website, Steemit, it is a decentralized autonomous social network where users get paid for posting and sharing popular posts!

I created both of the images above, as well the article, and they are of course free for commercial and non-commercial use. If you like this post the please upvote it, as I could win $1000, and then I could use those winnings to reinvest into further marketing projects for decentralized autonomous companies (communities).

Again, go to https://www.Peerplays.com to learn more and invest to also receive the benefits as a core token holder.

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