Cryptocurrencies have been in the game for a long time now and things ought to be moving a bit slow. The blockchain is such a wide piece of technology that it is being used in a variety of places like supply-chain management, sports, arts even dating.
However, when we talk about mass adoption, no other sector but gaming has been able to utilize the blockchain technology to its best and has pushed it towards its popularity.
We believe that there could be a number of reasons for it, for example, that this sector is run by people who are already technologically inclined and predominantly younger so they keep it relevant.
So could gaming become blockchain’s “killer app”? Is this what will push blockchain to its heights?
Among the ashes of finance, rises gaming…
The currencies saw a massive wave of adoption when bitcoin hit it’s all tie high – $20,000. Bitcoin was a financial tool and it was part of the financial revolution.
Things- started going off the rails when Bitcoin started aiming towards being a digital gold instead of what it was meant to do. The whole narrative had investor flocking towards it only to come crashing down when things got a bit turbulent. Leaving Bitcoin in ruins and far behind on adoption.
It seems that cryptocurrencies could have been the silver bullet when it came to mass adoption however, the environment wasn’t so welcoming.
On the contrary, the gaming ecosystem gets almost everything right; from the people to the environment. That place is just the right amount of disruptive to bring things to speed.
The start of something new
The potential is never a problem when it comes to the blockchain. It is capable of doing so much if it gets the implementation and the possibility of reaching the critical mass right.
What makes gaming such a great contender is the fact that it needs the technical enthusiasts who like new technology on its hands. People who could get things stirring because they have all this love for technology and an understanding of it.
But there are numerous barriers such as the complexity of the game and it’s not easy who are not a part of the crypto act. The blockchain games seem to be slow and complex. The initial setting up stage can be daunting.
It is not like the entire ecosystem would shift to blockchain but there are some aspects that it could work with very well.
The gaming environment it what makes it welcoming for the blockchain and this is how gaming can be the catalyst for its adoption. The integration could further aid other sectors and bring efficiency and improvement.