FinTechtris is an industry thought leader exploring disruption from multiple topics and trends in FinTech, including blockchain, cryptocurrency, and AI -- providing strategies and analysis on future developments, opportunities, and overall impact.

How Does Blockchain Go Mainstream? Gaming

How Does Blockchain Go Mainstream? Gaming

gamification.png

As 2018 rolls along, blockchain continues to be a huge buzzword full of tremendous future potential.  With all this attention and promise of innovation, why has the technology not gone mainstream already to the masses?  The answer lies in creating a clear understanding for everyone, which can be definitely be catapulted by a gaming app.

Blockchain has come to its newfound popularity as the technology that powers Bitcoin and other cryptocurrencies.  Besides being a future alternative to cash, other established purposes have come in the form of maintaining accurate transactions sequences, and protecting private data - - all with implications for multiple industries from manufacturing to banking. 

Among the newest applications is the creation of a global identity system for people and businesses online (more on the topic here), which removes the need for government intermediaries.   A game, Cryptokitties, has taken the concept further and applied it to a virtual marketplace in which cats are uniquely created, purchased for adoption, bred, and able to be sold - - each with unique characteristics stored in the game's blockchain.  Capturing all the innovative components of the technology, users are able to create their digital asset (cats coded in the form of unchangeable tokens),  maintain this token permanently (until you sell it), and have the token altered based on future transactions between two parties.   With a user-friendly design, the game has become a hit with its audience, engaging them to learn about purchasing, cryptocurrency, identity systems from blockchain, and wallet storage for their tokens.

We all still remember the hype and popularity around Pokemon Go from the last two years, a game which connected a mobile game to the real world through a sense of augmented reality (game characters can be found and captured in different areas around your city).  The same can take place again in 2018 for a game created by blockchain technology that is easy to play and missing the element of 'fun' for global, everyday users.

Thanks for checking out this article - - here are some other Fintechtris articles on Blockchain

Image credit, Article from Forbes

Fintech Targets "Unbanked" with Mobile Deposit and Debit Cards

Fintech Targets "Unbanked" with Mobile Deposit and Debit Cards

Blockchain's Next Use: A Global Identity Network

Blockchain's Next Use: A Global Identity Network