Cyprus’ National Betting Authority is set to delve into blockchain and cryptocurrency trends in an upcoming event. The aim is to explore how these emerging technologies might impact the country’s gambling industry. While the potential benefits are acknowledged as “unprecedented,” there are also challenges concerning government regulation and issues related to national sovereignty that need to be addressed.
The National Betting Authority is considering whether blockchain technology can enhance its oversight of Cyprus’ gambling sector. The event will feature a presentation by the University of Nicosia that will touch upon the utilization of blockchain and cryptocurrencies in the industry. Following the presentation, a panel discussion will explore the advantages that these technologies offer to both the public and private sectors.
Christiana Aristidou, a technology lawyer and the president of the Technology Committee of the Cyprus Bar Association, will moderate the discussion. The event is scheduled to take place next Wednesday.
It’s worth noting that the University of Nicosia made headlines in 2013 when it became the world’s first accredited university to accept bitcoin as a form of payment for tuition and fees. Cyprus has previously utilized blockchain technology for purposes such as certifying COVID-19 vaccinations for healthcare professionals earlier this year.