Blockchain by Tina Hamilton August 20, 2018
The gaming industry has started using blockchain technology in China in a tremendous way. Just recently Tencent in China uncovered Steam who is its competitor in the gaming marketplace having uncensored games titles from mainland developers for the first time. With this, the Hong Kong Monetary Authority announced the country wise trade finance platform created on the blockchain technology. Additionally, Alibaba announced the multiple increases in the efficiency of the digital world.
The recent headlines show that China’s Gaming industry is heading towards western countries with completely uncensored in nature. The gaming business in China is so big that is expected to be 2.3 billion gamers would spend $137.9 billion on games in 2018 as predicted by Newzoo. With this 28% gaming spend would be contributed from China alone. Let’s not forget that the gaming industry has come a long way that China’s technocrats to look for more growth abroad.
Amongst all these, Tencent (a Chinese multinational investment holding) invested a huge amount by creating its own platform – WeGame (as same as Steam in the West) in the Hong Kong next year. Though the announcement of this investment does not look interesting as it may have concealed certain aspects. The major issues are the Censorship and not to compete and grow globally. Even if Steam along with outer competitors in the market, the censorship always matter as per the valid source of the company.
As per the government of China, any games or contents imported into the country with pornographic perspective will be blocked immediately. This reminiscence the government’s action that it took last year especially when U.S. game developer – PUBG tried to introduce its renowned western game called “Battleground” but it was blocked by China’s General Admission of Press and Publication (GAPP).
However, in the one country, two system policy of HongKong, the WeGame platform powered by Tencent can execute its operation as a global company and will not require any censor for its game contents. Besides this, the mainland Chinese game developers will create uncensored titles for the international marketplace for WeGame.
As and when users of games are increasing, the need for a transparent system in place becomes mandatory on the policy and governance perspectives. If any industry be it Gaming or Entertainment, when widely used by its users globally, the key aspects to consider is to use the new age technology in an ethical way. When the company becomes global, it must require a strong brand equity in place!
Let’s not forget that the blockchain technology is a key enabler that helps process transparent and speedy worldwide by introducing a decentralized platform!! So why should Gaming industry lags behind in order to use Blockchain!!