“…If major gambling cities want to achieve a mature IoT and become smart cities, the network foundation is essential. 5G wireless systems, with the availability of a connectivity technology that is at once truly ubiquitous, reliable, scalable and cost-efficient, are considered a potentially crucial driver for the emerging global IoT, and the foundation for Internet casino entertainment includes running casinos live (Liao and Wang, 2018b). Facial recognition enhances customer satisfaction and loyalty…”
PurposeThe study aims to integrate the insights gained from the gambling industry into a value creation conceptual framework for analyzing the influence of digital technology application. Both primary and secondary data from industry practitioners are examined and discussed.Design/methodology/approachIn-depth interviews covering top management from six major casinos in Macau were conducted with industry experts, who provided the pioneering feedback on digitalization technology implemented with examples from major casino cities, including Macau, Las Vegas, Monte Carlo, Singapore, Seoul and some others.FindingsThe study provides an overview of the current status of the application of digital technology in the gambling industry and the level of the feasibility, practicability and profitability of this development on the casino floor. Digital technologies are found to augment the gambling industry in aspects of the product, service and operational structure. Research also discovers that benefits and values gained by the casino can be categorized in three dimensions: (1) value perceived by the customer, (2) value obtained from the customer and (3) value gained by the firm.Originality/valueThe research serves as a reference for Macau policymakers regarding regulations on emerging digital technologies in the gambling industry, as well as for casino management seeking to understand new potential business opportunities and future developments in digitalization.
“…If major gambling cities want to achieve a mature IoT and become smart cities, the network foundation is essential. 5G wireless systems, with the availability of a connectivity technology that is at once truly ubiquitous, reliable, scalable and cost-efficient, are considered a potentially crucial driver for the emerging global IoT, and the foundation for Internet casino entertainment includes running casinos live (Liao and Wang, 2018b). Facial recognition enhances customer satisfaction and loyalty…”
PurposeThe study aims to integrate the insights gained from the gambling industry into a value creation conceptual framework for analyzing the influence of digital technology application. Both primary and secondary data from industry practitioners are examined and discussed.Design/methodology/approachIn-depth interviews covering top management from six major casinos in Macau were conducted with industry experts, who provided the pioneering feedback on digitalization technology implemented with examples from major casino cities, including Macau, Las Vegas, Monte Carlo, Singapore, Seoul and some others.FindingsThe study provides an overview of the current status of the application of digital technology in the gambling industry and the level of the feasibility, practicability and profitability of this development on the casino floor. Digital technologies are found to augment the gambling industry in aspects of the product, service and operational structure. Research also discovers that benefits and values gained by the casino can be categorized in three dimensions: (1) value perceived by the customer, (2) value obtained from the customer and (3) value gained by the firm.Originality/valueThe research serves as a reference for Macau policymakers regarding regulations on emerging digital technologies in the gambling industry, as well as for casino management seeking to understand new potential business opportunities and future developments in digitalization.
“…The authors highlighted the adaptation capability of Ethereum platform as an open source blockchain solution. Liao et al [176] illustrated the design and applications of future 5G wireless micro operators in casinos and other entertainment applications in future smart cities. The utilization of smart contracts in different use cases including Mega Jackpot.…”
Section: Smart Citiesmentioning
confidence: 99%
“…Some futuristic insights on the role of blockchain in 6G presented in [190]. [157], [158], [160], [161], [162], [163], [164], [165], [166], [168], [169], [170], [154], [155], [156] • [175], [176], [177], [178], [179], [180], […”
Section: Miscellaneous Applications Of Iotmentioning
Blockchain is one of the disruptive technical innovation in the recent computing paradigm. Many applications already notoriously hard and complex are fortunate to ameliorate the service with the blessings of blockchain and smart contracts. The decentralized and autonomous execution with in-built transparency of blockchain based smart contracts revolutionize most of the applications with optimum and effective functionality. The paper explores the significant applications which already benefited from the smart contracts. We also highlight the future potential of the blockchain based smart contracts in these applications perspective.
“…To the best of our knowledge, there is no published work about the analysis of business models for blockchains in the ICE industry. In Section 4, we adopt a Concentric Value Circles (CVC) model [35] for analysis of the potential benefits of blockchains in ICE logistics.…”
Section: Literature Reviewmentioning
confidence: 99%
“…A Concentric Value Circles (CVC) model [35] is a group of concentric value circles. A value circle is defined as the collection of values that directly contribute to the values in its next small concentric value circle.…”
Section: Concentric Value Circles Model For Blockchain In Ice Logistimentioning
The gaming industry has evolved into a multi-functional smart city that combines integrated casinos and entertainment (ICE). ICE logistics involve supply chains with various stages in geographically-distributed locations and with limited and complex storage and warehouses. Challenges are to leverage demands, traffic, and storage allocation in ICE logistics. The decentralized structure of blockchain technology allows all parties to participate in ICE logistics. Its cryptography-based, immutable nature gives the assurance of security. This research deals with the design and application of blockchains in ICE logistics. We first adopt a Concentric Value Circles (CVC) model to identify the requirements and business opportunities that use blockchain technology in ICE logistics. We develop an open, automated, and transparent platform, TransICE, which utilizes the feature of smart contracts in blockchain technology and adopts a decentralized model, Hawk, where no financial transactions are stored on the blockchain to hold privacy of transactions publicly. Two cases, (1) the Shipment Pricing and Scheduling process and (2) the Pickup, Shipping and Delivery process in TransICE, are studied to illustrate the applications and feasibility of the proposed TransICE platform and the developed smart contracts of the Hawk model.
scite is a Brooklyn-based organization that helps researchers better discover and understand research articles through Smart Citations–citations that display the context of the citation and describe whether the article provides supporting or contrasting evidence. scite is used by students and researchers from around the world and is funded in part by the National Science Foundation and the National Institute on Drug Abuse of the National Institutes of Health.