Technology is constantly evolving, so it is best online casinos in New Zealand it is essential to keep an eye on this development and to look at which development is important and useful. The online gambling market is very competitive and ignoring one development can make you run behind the facts. For example, web3 technology is in development, which will change the internet. But what is web3. 0 and how are online casinos going to use it?
What is web3?
Web3 is all about giving internet users control over their own data and digital assets. Web 3.0 is actually about decentralization and applying blockchain to keep your own digital data and assets under your own control through blockchain, NFTS and crypto currencies instead of storing this data with third parties.
In the case of an online casino, you no longer stole payment details, money or other information from the online casino, you keep this information and assets all in your own control. This way you are no longer dependent on other websites whether they protect your data properly or not.
Cybercrime has been on the rise for years, with many New Zealanders being hacked every year. Usually this is because websites, sometimes also government websites, are not properly secured. Hackers can loot that various data like passwords and payment details like credit card details. Web3 puts this zodiac responsibility in the hands of the user himself instead of that of the website.
Web3 benefits for New Zealand online casinos
Especially with online casinos, reliability and privacy are of great importance. First, you want to be able to trust the casino. You want the money you deposit to be paid out and that if you win money you can just cash it out nicely. However, on the internet there are thousands of examples where online gambling offices not acting fairly which allows players to whistle at their money.
In addition, privacy is very important and you do not want your data to be on the street. A casino that work on the basis of web3.0 will always be able to meet the above criteria. As a player, you always have all these points in your own control.
If you play on a bitcoin casino then you connect to that casino with your own wallet. For example, the moment you sit down at a live blackjack table and you bet money, that money goes directly from your wallet to the casino. The moment you win the hand because you have blackjack, your winnings are immediately transferred back to your wallet.
As a result, microtransactions will always take place to and from your wallet. Through smart contracts, these bets are also fixed and regulated. If you take a seat at a slot machine and you manage to win the jackpot of 1 million dollars. Then it is already fixed in the smart contract to which wallet the amount goes. So the casino can not do anything difficult and stop the money.
Advantages of web3 at a glance
- All privacy sensitive information under our own control.
- Fast Payouts.
- It does not depend on the casino whether it wants to pay out or not.
- Crypto as a universal means of payment.
- Everything is easy from 1 wallet.
