The online gambling sector has made an incredible transformation from the past couple of years, with the emergence of blockchain technology. With the potential to bring betterment, blockchain technology is making its space in almost every industry ranging from academics to finance and online gaming. Online gambling is one of the emerging fields of the 21st century, and blockchain is a town talk that has enhanced involvement in the internet gambling space. This industry’s regulation is complicated; it is perceived as less transparent; people mostly complain about not getting full payouts.
In this article, we have discussed how blockchain is changing online gambling? And how RedApple Token can improve the internet-based gambling?
BLOCKCHAIN AND ONLINE GAMBLING:
Blockchain technology is an internet-based record-keeping ledger system best known for decentralization, transparency, immutability, and transaction speed. It is playing a huge role in modifying many flaws in online gambling.
RedApple Token (RAT) is the world’s first blockchain-based trusted ecosystem for online gambling. It is on the mission to establish transparent, easy-to-understand, borderless digital assets to change the online entertainment industry’s rules, gambling, and leveraging blockchain technology to achieve its goals. RAT, as a native asset, can fuel the entire gaming ecosystem.
TRANSPARENCY:
Transparency and trust is the main issue being always there in casinos and online gambling. Traditional financial receipts cannot provide real transparency. RedApple games open its financial data to all users every week and establish a real-time asset, data inquiry, and verification mechanism to provide openness and transparency.
DATA SECURITY:
Online gambling involves electronic payments that require bank account details- linking personal information. Blockchain has the potential to resolve this security concern. Ethereum blockchain-based Alpha Custodian wallet makes sure that third parties can’t get access to your personal data or inspect your gain and loss.
SAY GOODBYE TO RESTRICTIONS:
In many countries, banks don’t process money transactions to and from casinos; online gambling is prohibited. With blockchain, banks have no involvement; you can make your payouts in cryptocurrencies without any legal consequences. The elimination of banks enables you not to pay a large fee, and the good news is blockchain-backed cryptocurrencies are not subjected to taxation in many jurisdictions.
THE BOTTOM LINE:
RedApple token project has aimed to transform the online gambling industry using its revolutionary methodologies. Blockchain can minimize the challenges faced by gamblers. You don’t have to wait for weeks for payouts. The involvement of blockchain and cryptocurrency is useful not only for bettors but also for casinos to maintain trust and profitability.
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