Speaking at separate events, legal counsels from the Malta Gaming Authority (MGA) have been outspoken about the potential blockchain has in the gaming industry.
Blockchain technology has been linked with the iGaming industry for a long time now, showing a lot of potential and sparking a wave of innovative technologies like non-fungible tokens (NFTs), piquing the interest of professionals in the industry.
Speaking at the Vertex Summit about enhancing player protection, Junior Legal Counsel for the MGA Zachery Sciberras commented that “artificial Intelligence and blockchain technology have the potential to enhance current processes within the fields of player protection and responsible gaming, further aiding operators to ensure regulatory compliance.”
Brandon Debattista, MGA Senior Legal Counsel spoke at a panel discussion on ‘Gambling and Blockchain’ at the CoinGeek conference. He remarked that “blockchain can pave the way for increased security, transparency and operational efficiency.”
“Whilst the technology is generally associated with payments, the benefits derived from using it as a utility tool to bolster regulatory compliance cannot be ignored by the industry”, he added.
With hundreds of iGaming companies in operation, Malta is a major jurisdiction for the iGaming community and has also positioned itself as a ‘Blockchain Island’ through the introduction of targeted legislation, attracting blockchain and cryptocurrency enthusiasts from around the world.
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