Technology is marching on every day in terms of its progress and new applications. Not only is it creating new possibilities and sectors but it’s revitalizing those that may have become stagnant. New developments in technology such as cryptocurrency, VR, AR, and blockchain are changing the way we do things and driving forward new possibilities for expansion and business.
Crypto in Gambling
Cryptocurrency payments have driven forward a huge interest in the online gambling sector. The market is currently growing at a CAGR of over 12% year on year and it’s set to surpass a value of $160 billion by 2026. Much of this success is due to the way the industry has engaged new technologies, one of these being cryptocurrency.
Allowing cryptocurrency payments means that even those without a bank account, or who prefer not to use their debit card online, can do so with ease. It also provides a greater level of security and transparency than conventional payments. Lastly, crypto is seen as cutting-edge technology and those that include it in their platforms have a significant competitive edge.
With so many sites out there, having a competitive edge is highly beneficial for both the casino, as they get custom, and the players, as they get a better service or experience. For example, there are a number of platforms offering bonuses to entice players, which has proved so popular that there are now free spins comparison sites. These sites specifically offer players a simple way to see what bonuses are on offer as well as which payments are accepted and other terms and conditions. This helps them to make informed decisions on which is the best site for them as well as demonstrates the high levels of competition and technological advancements available within this industry.
VR and AR in Culture
The world has changed a lot in the last few years and people are increasingly looking for immersive social and cultural experiences without having to leave their homes. This is where AR and VR have really come into their own. Last year, many of the world’s most famous museums put virtual tours online along with VR walk-throughs of their collections. They have also been integrated into various cultural and heritage projects, allowing viewers to explore famous or hard-to-get-to sites from the comfort of their device.
AR and VR are also being used in other forms of entertainment, including film making and providing movie buffs with out-of-this-world experiences from home. Over the coming years, we will see much more use of these technologies as well as lower prices and more accessibility for devices such as headsets and glasses.
Blockchain in Logistics
Blockchain technology has found significant levels of adoption in the financial services industry but it’s also making waves in shipping, supply chain, and logistics as well. This market has long been plagued by human inefficiencies and not fit-for-purpose tracking processes.
The result is billions of dollars of lost items, delays, and other issues happening every year. The use of blockchain technology has been heralded as a way to streamline and simplify all processes and to avoid human error.
Furthermore, the integration of smart contracts means that many previously manual tasks can be carried out automatically and around the clock. The implications are huge and investment in blockchain tech is expected to completely revolutionize the sector.
In the next year, we expect to see a significant uptick in use cases for these technologies and soon they are set to become an integral part of our everyday lives.
