In a world where cyber threats are escalating and real-time data is becoming indispensable , the question is not whether jurisdictions should adopt blockchain , but how soon they can do so .
3 . General Data Protection Regulation Blockchain offers the means to securely anonymize information so that someone who does not want their data to be stored in a database can have it effectively removed , even though blockchain does not delete data . This means that the information , while securely stored in the blockchain , can be hidden by an anonymous code and scrubbed . “ Scrubbed ” is a slang term for using technology to effectively erase sensitive data so that the basics are still available but not associated directly with the person that wants to be anonymized .
4 . Casino Audit Traditional audits involve labor-intensive processes to verify data integrity . The technology ’ s ability to securely retrieve that data in real time , validate that the information is true and store it without any possibility of tampering would increase integrity , lower cost and increase tax revenue . Blockchain is the most efficient means to do this work , as the costs of a central system for security protocols are much greater than a blockchain-based system .
5 . Know Your Client Know your client ( KYC ) is becoming the singular differentiating factor in the integrity of a player ’ s journey in a gaming jurisdiction . KYC involves storing very sensitive data about each player as well as their preferences , limits and declarations . ID management systems that are not blockchain-based carry heavy costs for multiple security layers . This inefficiency could be eliminated with a blockchain-based system that ensures immutability .
6 . Anti-Money Laundering Anti-money laundering ( AML ) is a sensitive subject in most jurisdictions , and a complex one to create , implement and police an effective policy . Incidents in several key jurisdictions in 2024 have shown the vulnerabilities and weaknesses in manual and human-process systems to effectively uphold the law .
Blockchain is a technology that removes the doubt or temptation to tamper with or manipulate . Therefore , with respect to integrating an effective AML strategy , blockchain is the technology of choice . It removes interpretation , personalization , adaptation and reasons to not integrate and execute the same standard for all operators .
The Path to Adoption
The path to adopting blockchain is much easier than most realize . The essence of blockchain is information security . Therefore , the path to integration of blockchain is through the development and implementation of security standards that make it easier , cheaper and faster to use blockchain .
Today ’ s security models in organizations are reliant on multiple layers of different security products , protocols and applications . This creates a false sense of security , but at the same time increases costs and involves a complex maze of applications to manage .
Adopting blockchain requires a shift in mindset and infrastructure , which may face resistance from organizations that have created a security culture based on layering . The key here is to rely on a deterrent that will push operators to adopt blockchain . That deterrent is fines . Australia and the U . K . have handed out important fines in the past year . However , the infractions found are only the tip of the iceberg . Operators need to feel the pain of their technological debt , their hesitation to adopt more secure means such as blockchain-based methodologies . Unfortunately , fines are the most efficient tool .
The Inevitable Question : How Long Can Jurisdictions Survive Without Blockchain ?
In a world where cyber threats are escalating and real-time data is becoming indispensable , the question is not whether jurisdictions should adopt blockchain , but how soon they can do so . Those that fail to embrace this transformative technology risk falling behind , compromising their integrity and relevance in the global gaming landscape .
The cost of cyberattacks , lawsuits and jurisdictional fines will be the unfortunate benchmarks of the path to blockchain . Traditionally , the industry will push back on innovation of this kind because of the concerns of cost , complexity and integration challenges . However , these barriers can be mitigated :
Cost-Benefit Analysis : While initial implementation may involve costs , the long-term savings from enhanced security , reduced fraud and streamlined compliance far outweigh the investment .
Education and Training : Simplifying blockchain concepts and providing training to regulators and industry professionals will demystify the technology and build confidence in its adoption .
Incremental Integration : Regulators can adopt blockchain in stages , starting with critical areas and gradually expanding its application .
Conclusion : A Defining Moment for Gaming Regulation
The future of casino gaming regulation integrity is dependent on its ability to embrace new technologies and mitigate the increasingly high-risk landscape . Traditional security models , reliant on fragmented databases and layered security protocols , are no longer sufficient .
The exponential rise in cyber threats , regulatory complexity , and financial risks underscores the urgent need for a transformative approach .
Blockchain is a technological innovation that offers immutability , transparency , and real-time capabilities that traditional technologies cannot . Blockchain offers regulators a powerful tool to enhance oversight , combat fraud , and streamline compliance . The debate is no longer about whether blockchain should be adopted , but rather how quickly regulators can implement it to safeguard the industry ’ s integrity .
Jurisdictions that embrace blockchain will set a new standard for integrity . In this era of ever-increasing cybersecurity risks , blockchain is the only viable option for gaming security resilience . Regulators that embrace blockchain as a new policy and standard will leave a bold legacy for risk mitigation and transparency to safeguard the integrity of our industry .
Earle G . Hall is president and CEO of AXES . ai and co-chairman of the AI and Cybersecurity Policy Committee at the Las Vegas Chamber of Commerce .
16 Global Gaming Business MARCH 2025