Solidifying its position as the leader in blockchain and Web3 adoption, India is forging ahead when it comes to progress across its digital entertainments. Since 2024, the country has been pushing forward, with individual provinces as well as incentives. Additionally, there an increasing number of blockchain partnerships and collaborations underway as well.
While the finance minister is leveraging blockchain technology to distributed ledger technology, and the tokenization of real-world assets, there are other uses the blockchain is being put to in the country as well. When it comes to digital media, casinos, film, TV and so on, huge leaps are being made too.
Media partnerships
For one, Shemaroo Entertainment, India’s main media and entertainment company, is partnering with PWR Chain. This is an advanced Layer 0 Blockchain infrastructure which means that the entertainment platform will soon be offering more immersive content. This could be a game changer in the coming years as Shemaroo has 50 Youtube channels, 100 million daily views, Bollywood, television and children’s entertainment.
Impressively, PWR Chain’s blockchain technology is one of the sustainable options. With a low carbon footprint, this technology is capable of processing 300,000 transactions a second on a single CPU core. It’s setting a new high for green blockchain technology. Currently, Shemaroo is transitioning its entire collection and portfolio onto the blockchain, which means that there are options for creators to monetize their content via digital collectibles and tokenization right here. This will be a major influencer on the content landscape in India. Full software applications can also be deployed via the innovative design that’s scalable and speedy.
Blockchain payments
Vishvasya is India’s National Blockchain Technology Stack, and is a major turning point in the journey India is taking to get a strong digital public infrastructure. It was developed by the Ministry of Electronics and Information Technology and is designed to improve public services and governance.
Importantly, it’s likely to have a major impact on India’s payment landscape. Ideally, it’s going to integrate blockchain-enabled solutions to improve security and transparency for any financial transaction. It will also reduce the costs of transactions and mitigate fraud for cross-border payments. This will be launched alongside the Praamaanik system which is an identity verification system based on the blockchain. This will help improve the mobile app system too, as well as other digital and entertainment services such as online casinos.
Indian casinos and the blockchain
Now, if we take a closer look at the online casino industry within the country, this increase in blockchain technology is only going to help. Many Indians already play at and make regular payments to top casinos like Rocket Riches India. This means that any way to make things more secure is a must. With the combination of the Vishvasaya payment solution and the Praamaanik system for identification, online casinos could become a whole lot safer when it comes to playing.
Let’s not forget that the blockchain is already being used in various capacities when it comes to online casinos. For instance, there are already provably fair (PF) games in place. This is technology used to make sure that the games are random. While most casino games undergo verification and fair gaming checks, those on the PF technology can be verified by anybody. To check these games, the server creates a random seed using an algorithm. The game result and the random string are hashed and then given to the player. When a game round finishes, players then receive the encrypted key to check the game’s result.
This technology enhances transparency and helps to build immense trust between players, operators, and game developers. It also serves to ensure that all players are gaming under the same conditions with no manipulation. Because of this, such technology will likely become an automatic fixture within the digital casino world.
Final thoughts
India’s use of the blockchain and complete integration into digital media is an impressive move. Not only will it transform the gaming industry, but will also change the way the music and film industries operate too. It can ensure transparent financials, increase fan engagement and improve monetization for all involved. However, there are scalability and complexity concerns that still need to be considered.
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