CEEGC 2017 addresses cryptocurrencies

CEEGC 2017 will include a panel about cryptocurrencies.

CEEGC 2017 announces a special Bitcoin and Cryptocurrency oriented panel in partnership with BitMalta.

Hungary.- The organisers of CEEGC2017 announced a new panel on the agenda, which will aim at giving updates and advices about the role of Bitcoin and cryptocurrencies in the online gambling industry. The Central and Eastern European Gaming Conference is going to take place on September 19-20 at the Kempinski Corvinus Budapest.

Cryptocurrencies are not a new thing, as a matter of fact, in 1998, Wei Dai published a description of “b-money”, an anonymous, distributed electronic cash system which shortly thereafter, was followed by “Bit Gold” created by Nick Szabo. Just like bitcoin and other cryptocurrencies that would follow it, Bit Gold was an electronic currency system which required users to complete a proof of work function with solutions being cryptographically put together and published. A currency system based on a reusable proof of work was later created by Hal Finney who followed the work of Dai and Szabo.

The first decentralised cryptocurrency, bitcoin, was created in 2009 by pseudonymous developer Satoshi Nakamoto. It used SHA-256, a cryptographic hash function, as its proof-of-work scheme. Many other cryptocurrencies have been created though few have been successful, as they have brought little in the way of technical innovation. On August 6, 2014, the UK announced its Treasury had been commissioned to do a study of cryptocurrencies, and what role, if any, they can play in the UK economy. The study was also to report on whether regulation should be considered.

It didn’t take much time for the online gambling industry to eye out the possibilities of adopting Bitcoin and this has led to a total of 4.5 billion in BTC to be wagered since 2014. Bitcoin gambling has continued to rise in popularity over the years. Many people believe Bitcoin is the perfect currency for online wagers and cryptocurrency-based gambling statistics have shown that the market agrees.

It is clear that Bitcoin gambling is just one of many excellent platforms that demonstrates the cryptocurrency’s real-world use cases. Using bitcoin has allowed more privacy-centric gambling, alongside quicker ways to fund casino accounts, pay out jackpots and reward players. Online gambling is a huge industry with a volume of US$45.86 billion in 2016 and Bitcoin has captured just a tiny fraction of this market so far.

This is why the team at EEGEvents has designed an exclusive panel for the second edition of Central and Eastern European Gaming Conference in partnership with BitMalta. The panel will be moderated by Joseph F. Borg – VICE-PRESIDENT of BitMalta and Senior Advisor to WH Partners.