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Ethereum, Decentralization and Gambling

Gambling Chips

Ethereum is the continuation of a very grand experiment. That experiment started with Bitcoin and has come to be known generally as blockchain.

Ethereum is a tool for any developer to make any type of decentralized application. It is the idea of a “world computer” or “php in the cloud”, realised.

The first generation of developers are using this tool for a variety of purposes. If history is any guide, gambling will be the first successful application.

A number of developers are already building such decentralized apps. Leading the charge is the vDice platform.

Their decentralized fund raiser, on Ethereum, has a raised a substantial $2 million so far. The ICO is still live and finishes this week.

Technology enthusiasts from across the globe have thrown their weight behind this project.

With its success come profound implications. The vDice platform aims to be what it calls the “Wordpress of Gambling”. Project founder Jason Colby noted, "Maybe you’re talented. Maybe you’ve written a great gambling app for Ethereum. The incentives are great. The monetisation model is built right in. If you don’t have the time to promote it, just contact us. We’ll stick it on the vDice platform. Then you can leverage our brand, reach and marketing”.

The online gambling industry is huge. It is orders of magnitude bigger than the big blockchains; Bitcoin and Ethereum.

If vDice were to even capture a small percentage of that market the implications for the Ethereum network would be substantial.

Jason Colby further noted, "There are so many developers making free apps for platforms like Android and the App store. They’re not getting paid. They should have a better opportunity to make decentralized apps for Ethereum and earn for their skills. Our platform offers that unique opportunity”.

The real disruption associated with decentralization never really came to gambling, for a variety of reasons. With blockchain technology and platforms like Ethereum and vDice that may very well change soon.

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June 23 14:30 UTC Released

USECRI Weekly Annualized*

Actual

3.4 %

Forecast

Previous

3.7 %

June 23 14:30 UTC Released

USECRI Weekly Index*

Actual

143.7 %

Forecast

Previous

144.0 %

June 26 08:00 UTC 781781m

GBIfo Expectations*

Actual

Forecast

Previous

106.5 k

June 26 08:00 UTC 781781m

DEIfo Business Climate*

Actual

Forecast

114.4 bln BRL

Previous

114.6 bln BRL

June 26 08:00 UTC 781781m

DEIfo Expectations*

Actual

Forecast

106.4 %

Previous

106.5 %

June 26 08:00 UTC 781781m

DEIfo Current Conditions*

Actual

Forecast

123.3 mln

Previous

123.2 mln

June 26 08:30 UTC 811811m

GBIfo Expectations*

Actual

Forecast

Previous

40.750 k

June 26 08:30 UTC 811811m

BRBBA Mortgage Approvals

Actual

Forecast

Previous

40.750 k

June 26 11:00 UTC 961961m

BRBBA Mortgage Approvals

Actual

Forecast

Previous

84.2 k

June 26 11:00 UTC 961961m

RUFGV Consumer Conf*

Actual

Forecast

Previous

84.2 %

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