Wednesday, February 28, 2024

The Cyprus Betting Regulator will Host a Conference on Blockchain and Cryptocurrency Trends

Increased accessibility to the Internet and the most advanced technological advancements are also having a big impact on the gambling sector. There has been a drastic shift towards virtual gaming, augmented reality, and online gambling. While the industry enjoys tremendous opportunities, regulatory bodies face new challenges with respect to national sovereignty and government regulation.

The National Betting Authority has been contemplating whether it can keep a watch on the gambling industry of Cyprus using Blockchain technology or not. The regulatory body will soon host an event for discussing the most recent trends in cryptocurrency and Blockchain. The discussion will have a special focus on how this technology can offer opportunities to the gambling industry of the country.

Can Blockchain help in supervising Cyprus’ gambling industry?

The regulator mentioned in a recent blog post that “unprecedented” opportunities are offered by the latest technology. At the same time, there are several challenges with respect to national sovereignty issues and government regulation. The authority is trying to find out whether Blockchain technology will be able to enhance and support its supervision of the gambling industry of Cyprus.

The University of Nicosia is going to come up with a presentation that may cover the use of cryptocurrency and Blockchain in the industry. A panel discussion will follow the presentation to touch upon the advantages offered by the technology to the private and public sectors. Cyrus is not new to Blockchain technology. The country has used it at the beginning of this year for certifying that approximately one hundred physicians and nurses had got the COVID-19 jabs.

Cryptured Team
Cryptured Team
The writers team at Cryptured.com is composed of passionate and experienced journalists who cover the latest developments in the crypto and blockchain space. They aim to provide accurate, unbiased and easy-to-understand news and information for their readers, as well as insights and analysis from industry experts. The writers team is always on the lookout for new and exciting stories that can help the general public learn more about the potential and challenges of these technologies.
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