An analysis on Blockchain as the revolutionary digital technology for iGaming in Malta

Abstract

The purpose of this dissertation is to evaluate the impacts of Blockchain technology on the iGaming industry. The study examines various literature on Blockchain technology and iGaming and explains how such innovative technology could be of assistance to iGaming operators. A particular focus is applied to Malta’s performance in light of both sectors.

The researcher conducted semi-structured one-to-one interviews with six participants who have both direct and indirect relation to the gaming industry. The interviews were later transcribed and interpreted through the use of NVivo Software which facilitated in acquiring the main themes.

The results show that despite the promotion on Blockchain technology, more knowledge on the technology should be shared to the general public. Nevertheless, the majority approve that Malta’s interest in applying Blockchain technology, in context of existing industries, is a positive step forward towards innovation. However, the newness of the Blockchain technology and regulatory framework make it difficult to anticipate how many operators will effectively implement the technology on their iGaming platforms, in Malta.

The research provides an understanding whether Blockchain technology can have a positive impact on the iGaming industry, however, two limitations must be considered. Firstly, the interviews were conducted with only six participants. Therefore, to reach a conclusion whether operators recognise the potential of Blockchain technology in the iGaming industry, more participants need to be interviewed. Secondly, since Blockchain is a relatively new technology, the participants responded to the questions asked during the interviews on the basis of their knowledge on the topic. Therefore, this dissertation can be useful for both operators and players because it provides a general knowledge on the Blockchain technology and how the iGaming platforms will be affected with the implementation of the Blockchain technology. Furthermore, this dissertation serves as a suitable reference to the legislative framework in Malta with regards to Blockchain technology and iGaming industry.