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5 Ways Blockchain Will Transform the Gaming Industry

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blockchain gaming industry

In the last decade, we have seen the gaming industry being rapidly transformed by the introduction of new technologies which allow for immersive experiences, such as AI, VR, and AR. However, one of the latest of these emerging technologies — blockchain — is set to redefine the future of gaming by turning what has been seen as a leisure activity into a potential economic endeavour.

In this respect, blockchain looks set to disrupt the gaming industry, and enable a new way for players and developers to interact with gaming platforms. With nearly 70% of the American population playing video games, and with the gaming market forecasted to be worth more than $138 billion by the end of the year, how is blockchain set to transform the gaming industry?

1. Gamers will have full control of their virtual assets

Due to the risk of assets being duplicated, gaming companies often store in-game assets on centralised servers. However, this means that gamers don’t actually own their purchased virtual assets, and don’t have the capacity to buy, sell, or trade assets outside of the game. Currently, if a gamer wants to trade or sell virtual assets, they would have to do it through non-traditional means.

Blockchain allows full transparency and decentralised control of virtual assets, meaning players will have ownership of their virtual assets. They will be able to exchange these assets with other players, and for assets on other games, instantly. Gamers will also be able to use their virtual assets across different games, providing players with a more personalised video gaming experience.

2. Players stand to be rewarded for their interaction with video games

Through the tokenisation of platforms, players will be able to earn tokens for playing, reviewing, or sharing games on social media. Players will also be incentivised to provide reviews and feedback to developers, leading to the improvement of games available. Blockchain will allow players’ activities to be tracked, and for them to be rewarded accurately and instantly.

3. Blockchain builds gamer credibility and accountability

As the blockchain is an immutable ledger which records all transactions and allows players to use their account across multiple games services, gamers’ interactions, player history, and trading of in-game items are always tracked and documented. With these records made publicly available, a player’s reputation is tied to the blockchain, therefore encouraging good behavior within the community. This builds and fosters a safer gaming environment, giving value to those with credible reputations, and encourages transparency within the gaming ecosystem.

4. Better security for games

In the past, virtual goods ownership and trading was never fully possible. For example, the rare or expensive item players worked hard or paid for was often copied by fraudsters and resold, making their item neither unique nor as valuable.

Blockchain prevents the trading of illegal virtual assets on the black market, as well as the hacking and stealing of keys, by creating an immutable ledger of that item and who it belongs to, making duplicating impossible. After all, the original purpose of blockchain was to irrefutably prove ownership of bitcoin and other cryptocurrencies.

5. Transparent and faster payments to developers and gamers

UltraBlockchain technology will allow players to purchase items or games faster while ensuring their payments are secure. Developers are increasingly having a hard time selling their software outside of app stores, which result in large commission fees and loss of control over their own customers. Blockchain makes it possible to process nano-payments and for developers to get paid instantly, enabling developers to quickly reinvest money in their game launch marketing.

Meanwhile, gamers will have access to a range of new revenue opportunities, with proof-of-activity potentially earning gamers free swag.

This guest post was contributed by Nicolas Gilot, Co-CEO of Ultra, a blockchain-based, game publishing platform designed to put an end to the current PC game market status quo.

Blockchain Technology

Vodafone Ghana Introduces Blockchain Programme for Technology Students

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Vodafone Ghana

Vodafone Ghana in collaboration with IBM, HackLab Foundation, and Stanbic Bank has introduced a blockchain technology programme for technology students at the Kwame Nkrumah University of Science and Technology (KNUST). The aim of the programme is to promote digital innovation in Ghana.

The Hacklab Foundation Hackathon

The blockchain programme took place at Hacklab Foundation’s hackathon held on April 19, 2019, at KNUST. The programme was based on the theme: “Can blockchain technology transform the services sector?”

Hacklab Foundation is a non-profit organisation based in Ghana that instills skills in the youth in preparation for the job market while connecting them to potential employers.

Vodafone GhanaAs GhanaWeb reported, the hackathon attracted 600 developers from more than 18 institutions across Ghana with the purpose of finding blockchain-based solutions for the country’s market and for the entire continent. Vodafone Ghana will help the developers that had the best solutions from the hackathon to execute their ideas.

“Our status as a leading telecom company in Ghana means we have the power to drive change in our society and this is one of the many avenues we are deploying to accelerate Ghana’s digital journey,” said Vodafone Ghana’s Enterprise Business Director Angela Mensah-Poku.

According to a statement from Vodafone Ghana, the blockchain technology programme will revolutionise how student developers think.

“Blockchain technology is a very fascinating concept which has captured the attention of the world and this hackathon is a demonstration of our commitment to lead a digital revolution in Ghana. We are always excited about the opportunity to unearth young talents in the digital technology sector,” Angela added.

Promoting the Digital Revolution in Ghana

Vodafone Ghana has been promoting the digital revolution in Ghana for more than three years, the telco company said in the statement. This has been done through the implementation of a digital strategy that is all-inclusive. Vodafone implements its strategy through annual hackathons, national digital coding, and the youth skills and jobs portal.

Vodafone Ghana was recognised as a digital leader at the Ghana Business Awards in 2018.

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Mauritius-based Horizon Africa Launches Blockchain Education Platform for Africans

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Horizon Africa

Mauritius-based technology firm Horizon Africa has launched a new platform aimed at educating Africans about blockchain technology and encouraging startups, corporations and public sector institutions to utilise it.

An Ethereum-based Network for Africa

Horizon AfricaHorizon Africa is an Ethereum-based blockchain platform that offers blockchain solutions and facilitates DApp development. The Horizon Africa Blockchain Network (HABN) aims to apply blockchain to a number of industries including fintech, digital healthcare, education, governance and more.

According to the company’s co-founder, Suyash Sumaroo,

“Even though the public Ethereum (blockchain) has been available for years, the blockchain landscape in African countries has not developed much. There is a gap which is being filled by Horizon Africa. Its focus is not about creating a network or increasing the value of its token, but instead to allow people to learn about using the network. Building prototypes and ultimately real solutions is a large part of the mission,” he stated in an ITWeb Africa interview.

To make this dream a reality, Horizon Africa aims to involve African developers in the creation of blockchain solutions. The HABN network will provide a ‘test bed’ for local developers to design and deploy DApps that solve specific challenges in areas such as identity management, land registry, supply chains, gaming, and agriculture.

Sumaroo believes the uptake of blockchain-based products in Africa will increase within five years. He argues that Horizon Africa’s platform will play an important role in enabling African companies, startups and governments to learn about the technology, develop an implement blockchain systems.

Investing in Jobs of the Future

The platform launch comes after comments shared by the President of the African Development Bank (AfDB), Akinwumi Adesina, at the 2019 Mo Ibrahim Governance Week, where he urged African governments to move away from “investing in the jobs of the past, but rather in the jobs of the future.”

He stated that Africa should position itself to maximise on the opportunities brought by digital technologies such as blockchain, AI, big data analytics, and 3D printing. Sumaroo mirrors the same belief and reiterates that blockchain technology will play a critical role in industries such as finance, agriculture and the public sector in the future of Africa.

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How to Bridge the Gap Between Blockchain Hype and Adoption in Kenya

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Blockchain Hype

The blockchain has garnered a lot of hype thanks to its potential to disrupt various industries from healthcare and banking to the supply chain and elections. However, there is still a huge gap between blockchain hype and actual implementation.

BitcoinAfrica.io spoke with Kingsley Ndiewo, CEO of Nairobi-based blockchain development and education startup Funtrench, to hear his views on how this gap can be bridged.

Awareness is Everything

The first step towards moving from a lot of talk about what the blockchain could do to adoption is awareness. According to Ndiewo, the Kenyan government and the private sector should spearhead the sensitisation of civil servants, policymakers, and the public.

Nairobi“When government functionaries are well-informed about the technology itself then they can better push for adoption within government bodies and recognise the benefits that accrue from widespread adoption. Institutions such as NITA and TVET can be equipped to train blockchain skills at a vocational level through private sector partnerships,” he said.

The National Industrial Training Authority (NITA) and the Technical and Vocational and Educational Training (TVET) programs focus on instilling hands-on skills to learners. Ndiewo believes that for blockchain technology adoption to actually happen, hands-on training is important as well.

Moreover, for real blockchain adoption to take place in Kenya, the private sector needs to develop market-ready blockchain solutions.

“Only by well-implemented and viable solutions being in use can adoption become possible. A sensitised government will provide opportunities for the private sector to implement blockchain-based solutions,” he added.

To this end, little is being done towards increasing awareness and executing blockchain-based solutions in Kenya.

For instance, the Kenyan government created a Blockchain and AI Taskforce in 2018 whose report is yet to be released publicly while only a handful of companies – such as Twiga Foods and the Kenya National Chamber of Commerce and Industry (KNCCI) – have announced partnerships for blockchain-based solutions.

Leading by Example: Blockchain Solutions and Education

With less than a year in the blockchain space, Funtrench is eager to make a change with its three blockchain-based solutions, Ndiewo noted.

Funtrech

The first solution the technology company is working on is a portable DLT. This solution will offer a portable solar-powered blockchain network.

The second solution is SACCO Chain, a mobile app that seeks to solve the challenge of fractional ownership of machinery, vehicles, and other assets.

Ndiewo explained: “Fractional ownership is a key aspect of table-banking and SACCO operation in Africa. The solution will manage member elections on investment and administrative decisions and manage revenue distribution and virtual meetings.”

The third solution is Ganji, a cross-border payments and asset exchange platform. The solution solves the issue of cross-border trade in Africa and the high-cost of remittances.

Additionally, Funtrench has partnered with US-based certification company Blockchain Training Alliance (BTA) to offer blockchain education courses such as Blockchain Business Foundations, Blockchain Security Professional, Blockchain Solutions Architect, Blockchain Developer Hyperledger, and Blockchain Developer Ethereum.

The Nairobi-based startup is also working with organisations such as Oshwal College, AkiraChix, BlackRhinoVR, Kesholabs, Hyperledger Community, Kenya’s Blockchain & AI Taskforce, and Botlab to promote the blockchain and other emerging technologies in Kenya.

Most Kenyan Companies Will Adopt Blockchain in the Next Five Years

In the next five years, the Funtrench CEO envisions an environment where most businesses, including SMEs, will have deployed blockchain solutions in their operations. Moreover, he expects that blockchain solutions in Kenya will be prevalent in government agencies where they will be used to enhance transparency and secure data.

“We expect that blockchain solutions will be as commonplace as databases and their benefits will be more deeply understood by the general public. This will increase confidence in systems that employ blockchain technology and subsequently increase demand for blockchain-savvy professionals,” Ndiewo concluded.

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