Just 3 days ago, the Gaming Standard Association (GSA) signed and announced their agreement with BlockRe, a renowned risk assessment company. This firm will utilize its framework to locate potential risks and provide solutions that could improve the standards of the emerging Dgaming industry.
What Is BlockRe?
BlockRe is a global risk management company with offices in the USA and Europe. Thus far, the company provides services to the financial sector with excellent results.
Big names in the insurance business (in particular) benefited from the BlockRe's services.
Their framework is systematic and thorough, consisting of tools that spot and assess potential risks that may require further evaluation and restructuring.
Why An Agreement With The GSA?
The agreement is the result of the growing use of blockchain-powered solutions in the gaming industry. Those that design, deploy and use these solutions are currently in the unknown and are therefore exposed to the (potential) risks that are yet to be discovered.
Consequently, the GSA wants to ensure that the parties involved in this new emerging industry receive all the help they can get. The GSA feels that the BlockRe's framework will help the industry progress in the field of security, and help develop a new set of standards.
An Opportunity For Regulatory Agencies?
The GSA also believes that regulatory agencies could utilize the mentioned framework to construct and impose effective regulations. Agencies that seek independent auditors could benefit from the BlockRe's framework, and ensure that the members of their communities use safe and risk-free blockchain-powered solutions.
Peter DeRaedt, the president of GSA, argued, "The GSA is interested in the way BlockRe's framework works, and how it could be used to locate risks and provide potential solutions to those problems."
Reactions From Europe And BlockRe
BlockRe is expected to open its new office on Malta, a nation that is now known as the Blockchain Island (due to constant blockchain-related technological advances). Mark Pace, the GSA managing director in Europe, said, "Having BlockRe nearby [on Malta] will allow European GSA members to access and use the BlockRe's framework with ease."
BlockRe is also looking forward to the cooperation with the GSA. Their president Raymond Zenkich said, "BlockRe is happy to be at the place where risk assessing and blockchain frameworks meet."
Should the parties involved find a mutual language, the blockchain-powered industry will undoubtedly progress. It is a newly forged industry, one that will benefit from clear guidance, rules, and standards.