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[Football] Albion and other clubs sign up for bitcoin sponsorship experiment



El Presidente

The ONLY Gay in Brighton
Helpful Moderator
Jul 5, 2003
39,689
Pattknull med Haksprut
https://www.telegraph.co.uk/football/2018/08/20/premier-league-clubs-trial-cryptocurrency-experts-predict-bitcoins/

Premier League football bosses will soon be paying for the best players in bitcoins, it was claimed on Monday night, after seven top-flight clubs launched cryptocurrency trials.

Tottenham Hotspur, Leicester City, Newcastle United, Southampton, Cardiff City, Brighton and even small London club Crystal Palace have agreed to set up digital wallets with an online trading platform which says it is in "no doubt" the currency will eventually replace sterling in the multi-billion pound transfer industry.

The bitcoin system will also help clubs tackle ticket touting and counterfeit merchandising, according to online trading firm eToro, which has paid clubs to take part.

Blockchain and cryptocurrencies, which have no physical form and exist only as strings of computer code, were launched with the goal of becoming decentralised currencies. Iqbal Gandham, UK managing director at eToro, told the Daily Telegraph the use of bitcoin in the multi-billion pound transfer market would improve "transparency".

He said the seven clubs involved in the trial have all been paid to receive bitcoin in a bid to spark interest. "We've done a sponsorship deal, but rather than pay them in traditional pound notes we've paid them in bitcoin.... What they choose to do with that is entirely up to them."

Fran Jones, head of partnerships at Tottenham, said the partnership was launched because the club is "committed to technology and innovation". Paul Barber, chief executive at Brighton, said the project will "help us better understand the true potential offered by blockchain by selling merchandise such as the official club flask using bitcoin”.

Millions of investors bought bitcoin in recent years, prompting prices to soar. Financiers say that they are now more akin to commodities than currencies.
 


Badger

NOT the Honey Badger
NSC Patreon
May 8, 2007
12,749
Toronto
Tottenham Hotspur, Leicester City, Newcastle United, Southampton, Cardiff City, Brighton and even small London club Crystal Palace have agreed to set up digital wallets with an online trading platform which says it is in "no doubt" the currency will eventually replace sterling in the multi-billion pound transfer industry.

:clap2: Well played
 


beorhthelm

A. Virgo, Football Genius
Jul 21, 2003
35,264
double
 
Last edited:




beorhthelm

A. Virgo, Football Genius
Jul 21, 2003
35,264
bit mis-timed for an april fools, so perhaps they are being serious. presumably given eToro involvement, which is simply a glorified spreadbetting firm that doesn't allow one to buy/sell bitcoin and friends, this is a glorified marketing stunt. cant really see them actually paying players and transparency is probably last thing clubs want with transfers.

good to see some effort at adoption though, hope they use other cryptocurrencies than Bitcoin if they are to have success otherwise it will lead to longer queues as the tech isn't ready for instant payment today. using blockchain for tickets is an excellent idea.
 




studio150

Well-known member
Jul 30, 2011
29,553
On the Border
I would have been worried if they have paid us in traditional pound notes.

I must admit I read the club blurb on the tie in and I didn't understand anything they were going on about. One for the clued in youngsters I suspect
 


beorhthelm

A. Virgo, Football Genius
Jul 21, 2003
35,264
double
 






Triggaaar

Well-known member
Oct 24, 2005
49,989
Goldstone
Paul Barber, chief executive at Brighton, said the project will "help us better understand the true potential offered by blockchain by selling merchandise such as the official club flask using bitcoin, but we still won't let you take your new flask to a match.”.
Typical.
 




beorhthelm

A. Virgo, Football Genius
Jul 21, 2003
35,264



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