Bitcoin fever? With the development and emergence of digital currencies, the question arises whether the world of football is ready to "meet" the lucrative and promising world of digital finance. How much are the world's best soccer players worth in bitcoins? Turkey's Omer Faruk Kiroglu has already been traded from Harunustaspor for a cryptocurrency fee (around 0.0524 Bitcoin).

What other challenges and benefits will arise as a result of the collision of the world of Bitcoin and other altcoins with the world of sports? Let's explore the potential of using and implementing Blockchain technology in the fan ticketing system.

Blockchain and cryptocurrencies: what are the promising opportunities for football?

Blockchain technology, which underpins Bitcoin, is a secure process used to record all accounting transactions in a ledger. Essentially, it's a process in which a set of parties exchange information about transactions, deals, contracts - just about anything that can be independently recorded and verified.

"Business, like football, has a great opportunity to take advantage of these new technological know-how and be at the forefront of their future adoption," said Michael Broughton, sports consultant at Investment Partners.

Consider, for example, the London Football Exchange (LFE), which functions like a real-life currency exchange.

It is a global movement that aims to create a sports community where fans can participate in truly exclusive clubs and events. The stated aim is to "create a direct channel between the club and the fans for the sale of tickets and merchandising, but even for the buying and selling of shares in the clubs themselves".

The operation of the London Football Exchange on crypto anonymous betting sites is no different from the operation of other digital currency exchange sites, and in addition, it will also combine ticketing services.

Such a system would allow fans to earn LFE without physically holding them. After the ITO or Initial Token Offering, the corresponding tokens will be available for purchase and this will contribute to the development of the LFE project.

FC Bari Cosmo President Antonio Giancaspro himself commented on the matter: "We look forward to developing this relationship and becoming one of the first clubs in the world to take advantage of this revolutionary technology, given that FC Bari is a club with many opportunities . stories, our fans are our blood, and we see this as a way to give back to them and reward their loyalty.” Read what players who play on Crypto Sports betting sites like on this site.

In addition, Mr. Broughton notes that "the use of blockchain technology makes the world of sports betting safer for fans [...], it is possible to place many more bets and increase turnover".

Thanks to the ticketing process built on blockchain technology, the development and restoration of competitiveness in the world of football is expected in the near future. This will help to increase the capacity of the stadium. A final point to consider is the role that blockchain will play in the world of sports in light of the implementation of GDPR starting May 25.