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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...
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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.

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