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It has been a busy time for the world of blockchain developments over the last few years. While many people believe that cryptocurrency is the only outcome from using the blockchain, the technology actually has a huge number of potential uses. This is why software developers have been seeing what options are available and how far the technology can take things. We’ve taken a look at some of the most interesting developments of the moment in order to try to understand what the blockchain can provide for people moving forward.
This is without a doubt one of the most prominent areas for blockchain technology. In fact, online casinos have been a big driver when it comes to the development of the blockchain. Some of the best online casinos in the world have used the blockchain in a number of ways already.
The first way is through provably fair games. These are titles that use the blockchain to provide proof that the game being played is acting in a completely fair manner. It gives real-time hash updates that can then show the player that the advertised stats are correct. The range of provably fair games that are on the market is improving in quality over time, and the number of games is also rising.
It’s an area that a lot of crypto-only casinos are heading into in order to differentiate themselves from the competition. While it’s obviously not a guarantee at this point in time, it’s possible that in the future, all games could use this technology as the foundation.
It’s not just provably fair games that are getting the blockchain treatment either. In fact, a lot of online casinos are looking at building their entire operation using the blockchain from the ground up. This is a much more complex idea, but it does provide casinos with a lot more flexibility in the future.
It’s believed that by building an online casino in this manner, it will allow players to access the sites in a similar manner to a brick-and-mortar casino. In combination with virtual reality, it could even allow players to roam around the site as though they were walking around a real casino. The operators could even use non-fungible tokens (NFTs) to decorate the walls with unique artwork. There is a lot of potential here that can be used to increase the level of immersion provided by online casinos.
After mentioning NFTs as an art choice for online casinos, it makes sense to cover this aspect of the blockchain next. NFTs are giving artists a brand-new way of creating income. It’s not just standard art that can benefit from using NFTs though. They can be used to store written work, audio media, visual media, and more. It means that pretty much any creative industry has the ability to store and sell its output using NFTs.
What is most appealing to artists who use NFTs is the ability to retain a percentage of sell-on values. When selling an original painting, this wouldn’t be the case. The original might go for USD 100, but if the next owner sells it for USD 200,000, then the original artist doesn’t benefit from this. Using NFTs means that the artist could place a sell-on percentage for any NFTs they sell.
This would allow the artist to get a continuous income from their art. Obviously, it’s not just paintings that can benefit from this practice – all other forms of art can have similar benefits, which means that creative people will have the ability to provide for their families much more comfortably.
NFTs can also allow for limited edition items to be created much more easily. It allows for artists to create unique art that no other person owns without having to go through a painstaking process to do so. NFTs could truly be the future of art for many different people.
This is something that a lot of people seem to have overlooked at this point. However, the blockchain has a lot of potential that hasn’t been fully realized yet. The basic premise behind using the blockchain for voting is that changing any record on the blockchain will change the hash that is generated. In order to edit this so that the next record is able to connect properly, the next hash will need to be edited. This will require the previous hash to also be edited. This will then go all the way back through every record. In order to do this, it will take a huge amount of computer processing power.
This would make it close to impossible to edit any votes. It would truly create a voting process that couldn’t be tampered with. While it’s debatable whether many governments would genuinely want this to be in place, the ability for it to be put in place is definitely a positive for the people around the world.
This is another aspect that would be significantly improved by using the blockchain. Again, because the records couldn’t be changed without it showing up on the blockchain, patients and doctors would be able to ensure that every record is genuine.
So, if a doctor wanted to be nefarious towards a patient, which is obviously an extremely rare thing to happen, then it couldn’t take place without other people being aware of it. On the flip side, if a patient wanted to change their records in order to get access to a certain type of medication, then doctors would be able to see this being carried out and could put a stop to it.
It would also make it much simpler to get access to the records and would prevent records from being lost. This provides a lot more safety to patients and ensures that medical mishaps happen far less often.