3 Ways Tron Can Use Blockchain to Transform
The Universe of Digital Entertainment The market total for digital entertainment products is currently valued at a cool trillion dollars. And as you read this, the industry is underway for a multitude of radical solutions through the implementation of blockchain technology. Some major services blockchain provides are facilitation of copyright law – which helps everyone, big and small, as well as fair content monetization for artists, gamers and musicians.
Many of them may soon earn a liveable wage off their craft for the first time due to the booming technology’s employment. Wrapped up in one convenient package, Tron is a blockchain-based digital entertainment system, and here are three avenues by by ICO CROWD which it can use blockchain to revolutionize the industry. 1. ONLINE GAMBLING Online gambling is the first online entertainment sector in need of a radical shift towards transparency. Through the use of blockchain, Tron could solve major trust issues users have with the industry, which is estimated to be worth $60 billion by 2020. There have been concerns floating around about fairness of game results and transparency in regard to payouts since gambling was introduced to the Internet in 1994. A user’s winnings are unverifiable with online casinos. Blockchain utilizes an automated, inalterable public ledger to record data. With cryptography, payments and game results are automated and free from control by a central power source. A transparent computation done on the blockchain proves fairness. Smart contracts can set game rules, record bets and pay applicable winnings. Technological self-regulation
will supersede 3rd party-verification of casino game legitimacy, which will save money for the casino. By removing the need weary users have long had for trust, players will have greater confidence in a system that’s infamous for the ‘house’ beating them. Players will also no longer get scalped by huge hidden transaction fees. Users can gamble anonymously and no longer have to wait around for two to five days to receive their winnings, nor do they have to deal with the intriguing fact that deposits to the system take five seconds and withdrawing earnings is intentionally designed to be a difficult process. With online betting worth about $50 billion in 2017, it’s long overdue for hushed algorithms and company practices to be made transparent to the gambling public. 2. MUSIC The digitization of music has long eclipsed the financial opportunities of a once-booming music industry. With the birth of the internet’s cataclysmic streaming and P2P services, the music industry was turned on its head and record labels have been floundering for a decent solution ever since. Fortunately, labels, licences and streaming platforms all intersect on the block-
Published on Dec 28, 2017