Football Updates
Eden Hazard signs new Chelsea contract. He will be paid 50 Bitcoin per week.
Arsenal signs young starlet Matteo Guendouzi from Lorient for 20 million SCR.
Imagine those were real. Cryptocurrencies being used frequently in the sport world. Can this happen? What are the pros and cons? These are the many questions begging for answers.
Scorum is a platform looking to bridge the gap between sport enthusiasts and cryptocurrencies. It is sad to hear that cryptocurrencies have not been fully welcome into the real world. You see some countries banning trading of cryptocurrencies and related activities. This is in a bid to limit the growing influence of cryptocurrencies.
Football is a worldwide sport and I believe adoption of cryptocurrencies by football clubs/associations/players will force individual to reconsider their stance on cryptocurrencies.
What is more good news than seeing top clubs like Arsenal, Real Madrid having official accounts on scorum where they transact with SCR weekly. This is absolutely possible. We saw a professional player on scorum recently. He updates his blog with club activities. In order to be big, you start small. Little adoptions like this leads to global adoption. We have quite a number of clubs that have adopted the use of cryptocurrency at one point in time.
Cryptocurrency association in football.
Harunustaspor an amateur football club in Turkey claimed it is the first football club to purchase a player with bitcoin. 0.0524 bitcoin was used in that transaction. Source
Arsenal football club in England also signed a deal with Cashbet to promote their ICO at the Emirate stadium. Source
Scorum betting exchange where SCR will be used to place bets is also on its way.
Recently eToro an investment platform partnered with 7 premier league clubs, Tottenham Hotspur, Cardiff, Crystal palace, Brighton and Hove Albion, Leicester City, Newcastle united and Southampton FC in a deal that tends to sell eToro and cryptocurrencies to the world. The partnership deal is paid using bitcoin. Source
Gilbraltar united playing in the elite league of Gibraltar made a publication recently that they will include cryptocurrency salary payments option for their players starting from next season. Source
Eden Hazard and Kun Aguero are currently the face of Allsports which is a blockchain that want to incorporate football and betting with cryptocurrencies. Source
These are the little out of the many collaborations of football and cryptocurrencies.
Factors that may make or mar use of cryptocurrencies in football
Little or no fees involved
Imagine a football club on scorum, paying players by transferring SCR to their scorum wallet. There will be no fees involved in transferring Scorum coin. There will be no tax involved too. It is almost immediate.
Recently Cristiano Ronaldo had to pay a fine of over 21 million dollars in his tax evasion case against Spanish authorities. The same goes to Messi who had to pay huge amount of money too. The question is Who takes tax for holding Bitcoin or SCR? You can transact with cryptocurrency and be sure that it is tax free, fast with little or no charges. This is a major plus for cryptocurrencies and will see many clubs adopt it in the near future.
Volatility
Cryptocurrencies are volatile, no doubt about that. This moment, the price is high, the other moment the price is low. However, this is the beauty of cryptocurrencies and it is left for you the holder to know how to utilize the bullish market and the bearish market. Imagine being paid when the price is high and all of a sudden, the price drops. This is one of the disadvantages of cryptocurrencies. The price is not stable, and it can either be at an advantage to the player in the case of a bullish market because he/she may get double the worth og the initial pay.
There are ways of managing volatility. A major way is to hodl. Hodling involves keeping your cryptocurrencies till the market is favourable.
As you can see many players and clubs are already partnering with cryptocurrencies and other related platforms. It is only a matter of time before we see a global adoption of cryptocurrencies in the footballing world. The introduction of betting exchange on Scorum will be a major game changer.
Let me know your thoughts below.
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