According to cryptocurrency expert Darin Oliver, the penetration of blockchain into all areas of life in China presents a unique opportunity for cryptocurrency gambling operators to create a powerful new financial industry.
Oliver, whose company develops a blockchain casino platform called BlockDraw, believes that the Chinese market will inevitably have a major impact on the online crypto gaming space. Combining cryptocurrency and gambling is a viable prospect that can best serve the needs of Chinese players in the long term.
From a business perspective, Oliver says there is no doubt that Asia is a huge growth region for online gaming. One way to gauge the growth of interest in gambling is to look at the level of Internet penetration. Countries with rapidly growing Internet penetration into all areas of life tend to rate new online players highly.
Russia is projected to add about 20 million Internet users in the next five years. Ukraine will add 5-10 million. But China’s potential is estimated by experts at 120 million potential users.
China today is not only the largest growing market for the Internet, but also for blockchain technology. The combination of two promising areas provides a unique opportunity for a new industry, crypto-online gambling in the blockchain space.
According to Oliver, China's attempts to stop the outflow of capital from the country and the fall of the Chinese yuan below a critical level, makes digital currencies even more attractive.
Given the difficult times, the Chinese government's attempts to stop the spread of cryptocurrency in the country will lead to nothing, according to Oliver.
The idea that they can block cryptocurrency is nonsense. Cryptocurrency is very fluid and respects no boundaries... and it's no surprise that crypto assets are popular in countries where their own fiat currency has been compromised.
Oliver explained that BlockDraw is now actively working on solving the one question that all new cryptocurrency players are currently facing - how to run a crypto casino when coins tend to be so volatile?
BlockDraw is trying to find a solution to create a stable one token for its platform, thus bypassing the high volatility of the digital market.
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