Skip to main content

MLB Team Washington Nationals Partners With Terra Blockchain Community, Ballpark Plans to Accept UST

On February 9, the American professional baseball team based in Washington, D.C., the Washington Nationals, announced the team has partnered with Terra, the open-source blockchain platform and decentralized autonomous organization (DAO). The Washington Nationals detail that the team is a “leading innovator” and is “consistently introducing new technologies to enhance the fan experience.” Washington Nationals Ink Long-Term Deal With Terra Major League Baseball (MLB) team the Washington Nationals has partnered with the blockchain platform and DAO Terra, according to an announcement published by the team on Wednesday. The deal with Terra follows a slew of sports-related deals with crypto firms, but the MLB team will be the first to partner with an open-source blockchain project. In addition to the partnership, the algorithmic stablecoin UST that’s issued on the Terra blockchain will be “accepted as a payment method at Nationals Park as early as next season.” “The Nationals continue t...
Post a Comment

Top Gambling Firm IGT Obtains US Patent for a System to Enable Customers to Fund Their Bets via Crypto

Top Gambling Firm IGT Obtains US Patent for a System to Enable Customers to Fund Their Bets via Crypto

A gambling tech giant received the green light from the U.S. Patent and Trademark Office (USPTO) to start offering cryptocurrency payment options to their users. The company is known for manufacturing slot gambling machines.

Gamblers Could Also Transfer Crypto From Their Wallets to the Casino’s Ones

Per records from the USPTO, International Game Technology (IGT) received the patent that allows gamblers to pay their pets via bitcoin (BTC), ethereum (ETH), and bitcoin cash (BCH).

As described in the patent’s filings, IGT’s system will consist of the following:

A system that enables cryptocurrency funds to be transferred between a gaming establishment account associated with a player and an external cryptocurrency account.

The document shows some graphics of phones with illustrations of what seems to be mobile applications and uses QR codes that transfer cryptos onto the slot machines. The app also seems to act as a wallet, as well.

Moreover, the cryptocurrency would convert to fiat after the user pays a fee. Technically, the patent extends beyond the slot machines, as it covers services such as moving crypto into the users’ account, as the wallet’s function suggested.

During an interview with Bloomberg Law, Phil O’Shaughnessy, IGT’s spokesperson, commented on the announcement, stressing the need of the company to prepare the ground for the future:

IGT secured this patent to bolster its industry-leading patent portfolio in anticipation of any possible future direction in regulated gaming involving cryptocurrency.

Trends in Crypto Gambling Industry

The announcement comes in the midst of another one that involved IGT, who gained approval from Nevada’s regulatory authorities to establish a cashless wagering system through gamblers’ phones.

On April 2, 2020, news.Bitcoin.com reported that Chainalysis researchers found that the downward trend in gambling activity appears unrelated to the bitcoin price drop during the decline witnessed during such a period of time.

According to the analysis, it can be explained by the fact that such market has proven to be more resilient to the dips in the crypto sphere.

What are your thoughts on the announcement? Let us know in the comments section below.

The post Top Gambling Firm IGT Obtains US Patent for a System to Enable Customers to Fund Their Bets via Crypto appeared first on Bitcoin News.

Labels:

Comments

Post a Comment

Popular posts from this blog

Blockchain Software Firm Consensys Acquires Mycrypto Ethereum Wallet

On February 1, the blockchain infrastructure firm Consensys has revealed it has acquired the Ethereum-based wallet Mycrypto and plans to merge the wallet into Metamask. The price Consensys paid for Mycrypto was not disclosed but the announcement notes that the acquisition will “further improve the security of all the products.” Consensys Obtains Mycrypto Ethereum Wallet, Plans to Merge With Metamask in the Future Consensys has acquired the Ethereum-based wallet Mycrypto for an undisclosed sum according to an announcement released on Tuesday. The deal aims to strengthen the company’s Ethereum wallet Metamask and “enhance Web3 experiences.” The eventual merger between the two Ethereum interfaces will “provide users with a heightened experience that is even more extensive and secure,” according to Consensys. Consensys is an Ethereum software company led by one of the Ethereum co-founders Joseph Lubin. The Web3 wallet Metamask, with 21 million monthly active users (MAUs) is owned by C...
Post a Comment
Read more

The Congolese Mountain of Gold: Surprise Discovery in Africa Shows Metal’s Scarcity Is Hard to Prove

A myriad of gold bugs like to compliment the yellow precious metal for its ostensible scarcity, as estimates say only 2,500 to 3,000 tons of new gold is produced annually. While new gold discoveries have seemingly slowed, investigative studies also show that in some areas, gold is being smuggled into the economy by the ton, and often never accounted for as far as per annum issuance estimates. Recently, reports show a whole mountain of gold was discovered in the Congo, as the Democratic Republic of the Congo is well known for being a region that sees tons of smuggled gold filtered into the global financial system unreported. Surprise Gold Deposits Continue to Crack the Precious Metal’s Scarcity Proposition It has always been said that the precious metal gold (Au) is scarce, and some reports even say that gold mining on earth will end by the year 2050 . Additionally, estimates also show that there’s roughly 2,500 to 3,000 tons of new gold that is accounted for and enters into the fin...
Post a Comment
Read more

Bitcoin Legal Tender in 3 Days but Survey Shows 7 Out of 10 Salvadorans Want Bitcoin Law Repealed

Bitcoin is becoming legal tender in El Salvador in three days. However, a nationwide survey conducted by the University Institute of Public Opinion (Iudop) shows that seven out of 10 Salvadorans want the government to repeal the Bitcoin Law. El Salvador’s Bitcoin Law Goes Into Effect in 3 Days The University Institute of Public Opinion (Iudop) in El Salvador conducted a study between Aug. 13 and Aug. 20 of how the public views the country’s upcoming Bitcoin Law. The institute is a research center of the José Simeón Cañas Central American University (UCA). El Salvador’s Bitcoin Law is set to go into effect on Sept. 7 , when BTC will be legal tender in the country alongside the U.S. dollar. A total of 1,281 respondents ages 18 and over participated in this national survey that “represents the entire adult population residing in the country,” according to the institute. Out of all the respondents, 62.4% said they were aware of the approval of the Bitcoin Law by the deputies of the ...
Post a Comment
Read more