Gambling seems to be a fairly popular use of cryptocurrency and blockchain, but it also tends to lend a certain reputation to cryptocurrency among those that aren't familiar with it.
Welcome to the Cosmic Crypto Explorer podcast. Today I’m going to talk about the issue with gambling games in the cryptocurrency world.
Those that are familiar with the world of cryptocurrency know the good things about it and the different ways it can be used. For some it’s a speculative investment, similar to the stock market. For others it’s a way to earn rewards and offer rewards. And for others it’s an interesting new technology used to store data in an interesting way.
Then there are those that are skeptical about the whole thing. Many have heard the phrase “magic Internet money” before.
If we want to bring new people into cryptocurrency we have to be very careful and thoughtful about how we do it.
One of the concerns I’ve heard from those that aren’t part of the crypto world is that of crypto gambling. To them, gambling seems like one of the main reasons crypto exists and it makes crypto unseemly to them. When gambling is pushed so heavily with cryptocurrency it tends to give the cryptocurreny world as a whole a certain reputation.
Games are a great way to bring new people to any platform, but gambling may not be the best sort of game to go for. There are all sorts of other games that could be used to attract new people to cryptocurrency. Games that are free to play and reward the players for playing, perhaps by sharing some of their ad revenue. Games that would be fun and interesting without the issues that come from gambling. There could even be family games where crypto assets could be displayed like magnets on an electronic refrigerator, and possibly traded in for real toys and objects.
Ideas like that could give cryptocurrency a much wider appeal and a more gentle reputation, and that’s the sort of thing that could help to grow the cryptocurrency audience.