EkaLore has looked into the unique set of cultural and workforce advantages that are powering Dynamic India’s rise. We also look at challenges as well. Today’s post is a continuation of the Game’s afoot. We started with a broad perspective of the evolution of on-line gaming development. This post discusses the development of regulation regarding this marketplace.
Global markets for gaming have seen the astounding launch, growth, and prosperity of wildly successful games (and revenues) with competition and consolidation of a global industry. Massive Multi-Player Online Role Play Games (MMPORG) have even seen the creation and maturity of pseudo-crypto currencies rivaling the mechanisms and management of governmentally created fiat currencies. eSports competitions have created entire bricks-and-mortar physical structures for competitions over purely cyber-resident universes. Regulators have stepped up in many countries to counter what is seen as hazardous (children, addictive behaviors), criminal (gambling and money laundering), or antitrust (USA, EU, China) behaviors. India is now considering equivalent interventions*.
India's Federal and State governments have created committees, taken advice, and begun creating the regulatory (and tax) structures found in many countries. They are, like other jurisdictions, attempting to define “games of skill,” “games of chance,” “real money” (instead of “game currency”), allowed players (how old?), and content restrictions (“sexy content”). They are, like other jurisdictions, creating mechanisms to confirm identities, authenticate players, and link financial transactions. For Indian developers and emerging domestic gaming, these topics are critical to their participation in domestic, then global, marketspaces.
The next installment in the series will focus on investor interest in the Indian online gaming market. Read other Dynamic India pieces are www.ekalore.com/india-business
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