Categories: ICO

Gibraltar United to Become First Football Club to Pay Players In Cryptocurrency

Click here to view original web page at www.ccn.com
Advertisement

Gibraltar United, a Premium Division football team, will become the first football team to pay its players in cryptocurrency next season, according to The Guardian. Team owner Pablo Dana, who has invested in Quantocoin, a platform designed to provide cryptocurrencies for everyday uses, has started a sponsorship partnership, one of several instances of football teams and athletes finding use for cryptocurrencies.

Gibraltar’s financial sector has embraced blockchain technology and is leading the state in its adoption. In January, the government introduced regulations for businesses using blockchain technology. The government also plans to introduce a regulatory framework for ICOs.

Transparency Needed In Football

Where Gibraltar as a nation is hoping to bring legitimacy to crypto trading, Dana said Gibraltar United wants to bring more transparency to football, believing that the technology will reduce the corruption that has befallen the sport.

Cryptocurrency has also provided a means for paying foreign players who struggle to establish bank accounts in Gibraltar, while sidestepping taxes and fees.

Gibraltar was the first jurisdiction to regulate betting firms 20 years ago, Dana said. The government established anti-money laundering regulations. Gambling, for its part, has become established in football, bringing in millions of pounds worth of advertising. Betting companies were the leading shirt sponsors for the Nine Premier League teams.

Football Teams Embrace Crypto

Other football teams have embraced cryptocurrency and blockchain technology.

The London based Arsenal Football Club signed a sponsorship with CashBet, a cryptocurrency in January.

Danny Stroud, head of partnerships for the London Football Exchange, said the exchange is interested in having a token-based football community to allow clubs to interact directly with fans without friction.

The exchange has also arranged to introduce cryptocurrency to the Bari, an Italian club, and Alcobendas, a Madrid based club. The agreements will reduce merchandise and ticket prices and will provide a chance for fans to purchase equity in the clubs.

Also read: Football legend Didier Drogba is now a cryptocurrency startup ambassador

Players Support Crypto Platforms

Players that have formed partnerships with cryptocurrencies include Roberto Carlos, Luis Figo, Michael Owen and Lionel Messi.

Harunustaspor, an amateur Turkish club, in January signed player Omer Faruk Kiroglu partly with cryptocurrency.

Didier Drogba of the Ivory Coast recently became the official ambassador for All.me, a cryptocurrency based social network, and wore a shirt with All.me’s logo to show his support.

Luis Suarez, an Uruguayan player, last year promoted Stox, a blockchain platform for predictions, on his Instagram account.

Last week, Ronaldinho, another player, announced a project called the Ronaldhino Soccer Coin which plans to become a platform for soccer betting, digital stadiums and e-commerce.

Featured image from Shutterstock.

Follow us on Telegram or subscribe to our newsletter here.

Join CCN's crypto community for $9.99 per month, click here.
Want exclusive analysis and crypto insights from Hacked.com? Click here.
Open Positions at CCN: Full Time and Part Time Journalists Wanted.

cinerama

Illuminati, Mason, Anonymous I'll never tell. I can tell you this, global power is shifting and those who have the new intelligence are working to acquire this new force. You matter naught except to yourself, therefore prepare for the least expected and make your place in the new world order.

Disqus Comments Loading...
Share
Published by
cinerama

Recent Posts

Is Boris Gone Landslide and How Would Bitcoin, Markets, React?

The sun has returned on London streets as Boris Johnson, the unelected British Prime Minister, once again covers our TV… Read More

3 hours ago

California Man Admits Masterminding $25 Million Bitcoin Launder Fest

A Los Angeles man has plead guilty to a multi-million money laundering scheme. | Source: Shutterstock By CCN Markets :… Read More

3 hours ago

WORLD NEWS: This Week in Blockchain and Crypto

This week has seen interesting developments around the globe on crypto projects and governments interest in the digital assets space.The… Read More

3 hours ago

Bitcoin Circuit: Is it a scam? Read our comprehensive review!

If you are looking for ways to speculate on cryptocurrencies, then I am sure you have thought about signing up… Read More

3 hours ago

Model: Bitcoin (BTC) Price to Surge 100% to $20,000 by May

In just around nine months, Bitcoin (BTC) will see its next block reward reduction — dubbed “halving”. Despite this rapidly… Read More

3 hours ago

Early Bitcoin Contributor Projected $10 Million BTC Price 10 Years Ago

Share Tweet Send Share Just a week after the bitcoin genesis block in January 2009, computer scientist Hal Finney published… Read More

3 hours ago

This website uses cookies. We use these cookies to collect data about your interaction with our website for the purpose of continuously improving your experience with our site. For more information we encourage you to read our privacy policy.

Read More