This week Canary Wharf plays host to a one day conference all about Bitcoin – the digital currency that is currently attracting a lot of attention from the online gambling industry. Bitcoin London 2013 is an invitation only event and it is expected that many investors and entrepreneurs will be in attendance, with a view to learning just how the potential for Bitcoin can be fulfilled.
The Bitcoin digital currency is somewhat complicated to explain, but since its creation in 2009 it has started to gain some recognition. It is believed by many that it could eventually become a mainstream currency. It is currently unregulated and has no central authority, but the fact that it can be traded and used for payments with a degree of anonymity has created a significant interest.
There are very few online gambling sites that use Bitcoin as an option for processing deposits and withdrawals; it is currently just a handful of small poker sites that do. Recently, though, there has been a lot of talk about the possibility of Bitcoin being more widely used in the online gambling industry. This is almost certainly some way off, but it remains a distinct possibility.
The Bitcoin London Conference will no doubt generate heightened interest in the currency. If those present have fruitful discussions about ways in which Bitcoin could gain more widespread acceptance in the future, then the idea of making deposits and withdrawals using this digital currency will perhaps not seem such a distant prospect.
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