How Blockchain Technology Can Transform the Fantasy Sports Industry

1. How Blockchain Technology Can Transform the Fantasy Sports Industry Blockchain technology has risen among the most advanced and secured technologies in last half decade. The penetration of blockchain technology is going to the next level and its increasing day by day. Different industries like Healthcare, Manufacturing, Supply Chain Management, Banking, and Financial Services implementing the use cases of blockchain technology except for the Fantasy sports industry. When blockchain technology applies in the correct way, truth to be told it stands out among the most innovative and secure technology for the Fantasy sports industry. Presently, the global fantasy sports market is USD 12.47 billions and is estimated to reach USD 19.93 billions by 2025 at a CAGR of 9.63%. Blockchain technology is the perfect tool for the Fantasy sports industry because of its transparency and security. Also Read: Why it is Smart Idea to Launch Fantasy Cricket App Before 2019-20 Why Blockchain Development Services are the most secure for Fantasy Sports Industry? Blockchain Technology is a digital ledger that stores digital records of information in a decentralized manner. These records can are used to contain financial as well as any other valuable information.

2. Blockchain technology for the fantasy sports industry holds numerous functionality because of its capacity of being decentralized and secrecy. In addition to this, other vital information like customer data, booking, payment gateway, transaction transparency, smoother fund transfer, and assets protection, etc can also be stored on the Blockchain. Use-cases of Blockchain Technology in the Fantasy Sports Industry: 1. Data Security The major concern for iGaming operators is to protect every user account information from hackers or other cyber criminals. Blockchain technology is the best fit for the fantasy sports industry in data security management. 2. Usage of Cryptocurrency Cryptocurrency and Fantasy sports industry are the perfect match for each other. A cryptocurrency like bitcoin, litecoin, and ethereum based on the blockchain technology offers you several benefits like Identifying Theft, Access to Everyone, Decentralized, Transparent, Secure, Cost-effective and Recognition at the universal level. 3. Trust & Transparency Trust and transparency are the primary concerns among the participants. Many fantasy sports operators made multiple fraudulent activities in online gaming. With the help of blockchain technology trust and complete transparency would be maintained by the DFS operators like fair game policy system, No hidden terms and conditions, fair environment, transaction transparency and quick fund winning amount transfer. 4. Manage High Volume Data In fantasy sports industry there is always a high volume data of users, transaction history. Blockchain always secures high volume data and manages it in a very precise and transparent manner. Mobiweb Technologies is known as the best and renowned Fantasy sports app development company that delivers cost-effective and top-notch fantasy sports development solutions. We have expertise in multiple sports platforms including football, cricket, soccer, basketball, casino, tennis, hockey, rugby, etc.