Chanda, Subhrajit and Choudhary, Ashiv (2024) Blockchain in online gaming: Navigating the legal landscape for India and the world. In: Online Gaming in India. Taylor and Francis, pp. 126-141. ISBN 9781032624204
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Abstract
Blockchain technology has gained significant traction in the field of online gaming, revolutionizing the industry by offering decentralized and transparent solutions. Virtual events and tournaments are hosted in online gaming which are easily handled with the use of blockchain technology. Blockchain is known as a decentralized and distributed digital ledger which allows it to secure transactions and maintain records. With the use of this technology, it becomes easier to enable secure and efficient transactions, provide opportunities for fan engagement, and enhance trust among participants by maintaining transparency within the game. Furthermore, it introduces the use of NFTs for the purpose of representing in-game virtual assets which can be owned by users. However, the legal implications surrounding the integration of blockchain in online gaming present unique challenges that require careful consideration, particularly within the legal landscape of India and on a global scale. The objective of this chapter is to discuss the way blockchain is contributing towards online gaming from the legal landscape for India and the world. This research investigates the national strategies adopted by India and the global community to facilitate the secure and responsible use of blockchain in online gaming. It explores the measures implemented to establish a regulated environment that promotes the safe integration of blockchain technology while ensuring the protection of participants interests. By analysing existing laws, and considering international perspectives, this research sheds light on the legal considerations and possible pathways for integrating blockchain technology into the online gaming ecosystem while addressing concerns of security, privacy, and consumer protection. Through an analysis of regulatory frameworks, jurisdictional challenges, and potential legal hurdles, this research explores the opportunities and obstacles for harnessing the power of blockchain in online gaming in order to provide insights and recommendations to stakeholders, policymakers, and industry players navigating the complex legal terrain associated with blockchain technology in online gaming.
Item Type: | Book Section |
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Subjects: | Physical, Life and Health Sciences > Computer Science Social Sciences and humanities > Social Sciences > Law and Legal Studies |
JGU School/Centre: | Jindal Global Law School |
Depositing User: | Dharmveer Modi |
Date Deposited: | 08 Dec 2024 04:32 |
Last Modified: | 08 Dec 2024 04:32 |
Official URL: | https://doi.org/10.1201/9781032624204-13 |
URI: | https://pure.jgu.edu.in/id/eprint/8864 |
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