Gaming Standards Association (GSA) held its first-ever conference event: GSA Technology Summit: Focus on Blockchain, November 8 and 9 at the Nevada Museum of Art in Reno.
Blockchain technology—the second phase of the internet—will have a dramatic impact on our lives and businesses. It is poised to revolutionize data sharing, security and the ability to provide regulatory authorities with previously unobtainable levels of transparency. Those looking at how this technology will impact the gaming industry were able to listen to companies that are using the technology today and regulators as they debated the benefits blockchain provides them.
GSA President Peter DeRaedt said, “We were excited to see a lot of interest in the event. For this unique summit we’ve used our extensive contacts within and outside the gaming industry to bring together speakers and participants who have the experience and know-how to offer attendees a more grounded foundation and education about this technology.”
Blockchain Committee Chair Earle G. Hall, who moderated a panel discussing how blockchain will impact gaming, said, “Blockchain is the answer to so many of our inefficiencies. It is inherently designed for transparent, secure and distributed information flow. Blockchain will exponentially increase the potential for collaboration, efficiency and connectivity.”
While blockchain has many answers for gaming issues, it also has some challenges, such as the speed of uploading, acceptance by regulators, and possible susceptibility to hacking, all of which were noted by speakers at the event.