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The Silicon Review Asia

Blockchain technology is expanding its foothold in the Asian gaming market

Blockchain technology is expanding its foothold in the Asian gaming market

The gaming industry in Asia has affiliated itself to various tech innovations like augmented reality, artificial intelligence, and virtual reality. However, Blockchain technology is becoming one of the significant contributors because it brings in more trust to the gaming circle. Industry is becoming more secured with the blockchain tech and investors are flocking in to join the bandwagon. The blockchain spending in the Pacific/ Asia region is anticipated to grow rapidly with a compound annual growth rate of 59.8% according to the suggestions made by IDC expectations. This percentage will amount to $3 billion between the forecast period 2018 to 2023. The blockchain spending will be dominated by the financial services for the forecast period.

Managing cross-border/international payments and settlements, tracing, and tracking will receive major investments. Financial enterprises are even focusing on providing a record of transactions between parties. Japan is turning out to be a leader in blockchain gaming following the launch of my Crypto Hero (MCH), this was launched in the 4th quarter of 2018. It is one of the largest blockchain games and it has almost 17000+ active users.  Tran Ngoc Son CEO of TomoChain Japan stated that one of the significant challenge in the blockchain gaming is liquidity and ownership of online items.

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