From the 19th to the 20th of September at the Kempinski Corvinus Budapest, in Budapest, Hungary, the Central and Eastern European Gaming Conference takes place. The organizers of the event have expressed excitement in the announcement of a new panel that will target updates and information about the role that Bitcoin and other cryptocurrencies will play in the online gambling industry.
The online gambling industry has embraced Bitcoin and other cryptocurrencies as forms of both deposit and withdrawal options. It goes as far back as 1998 when Wei Dai had a description of “B-money” published which outlined the anonymous, electronically distributed system of cash which was followed by “Bit Gold” that was created by a man named Nick Szabo. Bit Gold required users to create a proof of work function to allow the proofs to be cryptographically welded together and issued. Hal Finney later improved on the work by creating a digital currency system that worked with a reusable proof of work.
All this lead to the first real cryptocurrency that was developed by what is commonly thought to be an anonymous group of hackers and programmers that go by the name of Satoshi Nakamoto. This, of course, is Bitcoin. Bitcoin uses an SHA-256 crytographic hash function to make up its proof of work procedures. Although governments tend to give decentralized currencies a side-eye, in August of 2014, the UK resolved to have its treasury department conduct a study on Bitcoin and the various cryptocurrencies that also exist. The aim was to find out if Bitcoin or any other cryptocurrency had an effect on its economy and if so, what that effect was. The study also included a report on the need for regulation.
There has been a notable increase in the Bitcoin gambling community that has resulted in 4.5 billion in Bitcoin used in online gambling since 2014. This has been used as proof in various articles and arguments that cryptocurrencies are ideal for placing wagers online and has been shown to extend into various other real-world platforms. It allows gamers to maintain their privacy, avoid national banking fees, and enjoy instant deposit and withdrawals based on the digital nature of the currency. These are all reasons why the coordinators at EEGEvents have developed this specific panel for the Gaming Conference.
The panel’s moderator will be Joseph F. Borg. He is Vice President of BitMalta and is currently a Senior Advisor to WH Partners which is a law firm that specifically operates in Telecoms and intellectual property law. He is a lecturer of gaming law at Malta’s prestigious University of Malta and sits on the Malta IT Law Association as the Secretary General. These are just a few of his credentials as he has a long history in the online gaming industry and legal associations that are involved with it.
You can secure your seat at the gaming conference for 299 EUR as an Early Bird Special which can be placed with a 50% discount until September 3rd. You can register here: https://ceegc.eu/registration/