The organizers of CEEGC2017 are excited to announce a new panel on the Agenda which will aim towards giving updates and advices about the role of Bitcoin and cryptocurrency in the online gambling industry. The Central and Eastern European Gaming Conference is going to take place between 19-20 September at the Kempinski Corvinus Budapest.
In their press release, the organizer expressed feelings that they are certain that if you open up your internet browser, listen to the radio streams or just watch the news on TV, a new piece about Bitcoin or any other cryptocurrency will pop up.
And if you are in the online gambling industry, no doubt you’ve heard about how the industry is embracing Bitcoin. Cryptocurrency is not a new thing, as a matter of fact, in 1998, Wei Dai published a description of “b-money”, an anonymous, distributed electronic cash system which shortly thereafter, was followed by “Bit Gold” created by Nick Szabo.
Just like bitcoin and other cryptocurrencies that would follow it, Bit Gold was an electronic currency system which required users to complete a proof of work function with solutions being cryptographically put together and published. A currency system based on a reusable proof of work was later created by Hal Finney who followed the work of Dai and Szabo.
The first decentralized cryptocurrency, bitcoin, was created in 2009 by pseudonymous developer Satoshi Nakamoto. It used SHA-256, a cryptographic hash function, as its proof-of-work scheme. Many other cryptocurrencies have been created though few have been successful, as they have brought little in the way of technical innovation. On 6 August 2014, the UK announced its Treasury had been commissioned to do a study of cryptocurrencies, and what role, if any, they can play in the UK economy. The study was also to report on whether regulation should be considered.
It didn’t take much time for the online gambling industry to eye out the possibilities of adopting Bitcoin and this has lead to a total of 4.5 billion in BTC to be wagered since 2014.
Bitcoin gambling has continued to rise in popularity over the years. Many people believe Bitcoin is the perfect currency for online wagers and cryptocurrency-based gambling statistics have shown that the market agrees.
It is clear that Bitcoin gambling is just one of many excellent platforms that demonstrates the cryptocurrency’s real-world use cases. Using bitcoin has allowed for more privacy-centric gambling, alongside quicker ways to fund casino accounts, pay out jackpots and reward players. Online gambling is a huge industry with a volume of $45.86 billion in 2016 and Bitcoin has captured just a tiny fraction of this market so far.
This is why the team at EEGEvents has designed an exclusive panel for the second edition of Central and Eastern European Gaming Conference in partnership with BitMalta.
The panel will be moderated by Joseph F. Borg – VICE-PRESIDENT of BitMalta and Senior Advisor to WH Partners