News
Atlantic City Invests in Blockchain for Future Business Growth
The East Coast’s beachside gambling capital, Atlantic City is a resort town known for its beaches, casinos, and iconic Boardwalk. In the future, it may also be known as the home of blockchain technology.
Atlantic City recently hosted the largest cryptocurrency event ever held in North America, the Blockchain World Conference, with a 50,000-square-foot exhibit space. More than 5,000 people attended in person and about 25,000 people watched remotely. Today, casinos are intrigued by the idea of how blockchain offers new ways to manage and secure transactions without having to go through the banking system.
Blockchain’s distributed ledger provides a permanent record of transactions, making it difficult for hackers to alter the data. This helps create greater transparency and increases user trust. It is a viable solution for online gambling sites, tracking transactions in casinos and allowing gamblers to access cryptocurrencies like BonkBitcoin and Ethereum for placing bets.
People also read…
Casinos are also considering developing loyalty programs based on blockchain technology and using smart contracts for hotel reservations or event ticketing.
Atlantic City Companies Invest in Blockchain
Other ways Atlantic City businesses are considering blockchain technology include:
- Real Estate Sales Tracking for Real Estate
- Enable cryptocurrency payments at local businesses
- Improving Cybersecurity for Critical Infrastructure
- Improve energy management
Atlantic City is using blockchain to research transportation solutions. With several grants, they are exploring in-loop infrastructure simulations using digital twins of the Atlantic City Expressways to analyze traffic patterns and solutions. Other cities are also finding innovative solutions. For example, Baltimore is using blockchain to record its empty accommodationsIn Quincy, Massachusetts, the city issued a $10 million municipal bond using distributed ledger technology (FLT) to raise funds.
What is Blockchain?
Blockchain enables a shared, yet immutable, ledger that tracks assets and records transactions. By recording transactions across a large number of computers, the record cannot be retroactively changed without the consensus of the network. It is best known for providing the foundation for cryptocurrencies, such as Bitcoin and Ethereum.
Powering cryptocurrencies and memecoins
It also fuels a number of investments, including memecoins like BONK and Dogecoin, which are showing significant growth. Asset management firm Van Eck has launched a memecoin index that tracks the six largest memecoins:
- Dogecoin (DOGE)
- Shiba Inu Dog (SHIB)
- Pepper (PEPPER)
- BOCCHIO (BOCCHIO)
- Women’s Hat (WIF)
- FLOKI (FLOKI)
The index shows that over the past year, memecoins have increased by 586%, outpacing AI coin and Bitcoin. There is a constant discussion of memecoins on social media, showing a 53% increase since January 2024, helping to keep them top of mind and stimulate interest.
This content is intended for informational purposes only and should not be construed as investment advice. As with all investments, there is risk and past performance of a particular asset class does not guarantee any future performance. The publisher does not represent or warrant that the information in this content is accurate or complete as this article has been provided by an outside contributor. The views, thoughts and opinions in this contributor content are solely those of the content provider.
The editorial and writing staff of Lee Enterprises were not involved in the creation of this content.
You can be the first to know
Get local news delivered straight to your inbox!