Blockchain as a technological ally in future sports management

Sport creates passions and connects people. Like music, sport knows no barriers or languages, no race or color. Their power is undeniable and the numbers show them.

Football alone, the most popular sport in the world, has an estimated audience of more than 3.5 billion people. a third of all the inhabitants of the planet.

There is also no denying the impact and reach of sport around the world, and the behavior that they develop among their fans are figures that the large institutions associated with this economic center know very well.

Blockchain as a technological ally in future sports management
Blockchain as a technological ally in future sports management

Since the 1990s, with the entry into the Internet, radar, virtual images, data collection and social networks have been a real expression of how technology has influenced the way in which different disciplines are carried out, which has enabled a larger audience and one Rapprochement between him and the most famous people.

Now blockchain technology certainly has the ability to make this fan-sport synergy more transparent, accessible, and comprehensive than we’ve seen before.

Goodbye to the long lines in the stadiums for attending sporting events, concerns about counterfeit ticket resellers that cause millions of losses for users and clubs, incorrect verification of match results and concerns about counterfeit collectibles of more than 90 percent cases are just one Waste of time and money.

Blockchain technology has reached the masses and one of the most important areas of our social life, such as sport. The use cases range from football-loving Europe to icy NFL dishes in Canada and the USA, which change the user experience and at the same time achieve a progressive attitude towards a more decentralized and transparent world between clubs and players. .

Where can you use blockchain in sports?

With the ability to create non-consumable tokens in the Ethereum blockchain, the possibilities seem endless to focus the future of sport with blockchain support on three broad described by Consensys a year ago:

  • Improvement of collectibles and memorabilia

  • Fractional fan ownership, crowdfunding of athletes and intelligent contracts for the world of sport

  • Protection of private data and creation of identities based on blockchain

So far, we’ve seen an explosion of use cases related to improving collectibles and souvenirs. Focuses on the synergy of fan club sports figures to make fans more accessible to some inherent activities with their favorite stars and teams, ranging from buying real collectibles to participating in club decisions.

Some application examples

In all of the previous cases, there are numerous examples that have been introduced in the sports world since 2014, with the United States National Association Basketball NBA Los Reyes de Sacramento at the top.

The NBA Club was one of the pioneers in the application of blockchain technology in all possible facets of its sports program. From selling tickets and items using Bitcoin as a form of payment to mining in your data center for “charitable” purposes, without neglecting the sale of Ethereum-based collectibles through the alliance with CryptoKaiju and Consensys.

But basketball in the U.S. isn’t the only one who chose blockchain technology. While the NBA is forging a technological tradition of blockchain adoption with teams like the Kings, Maverick Dallas, and Cleveland Cavaliers marketing their tickets and advertising revenue with crypto-related exchange companies, Football is one of the big ones when it comes to adoption.

Thanks to platforms such as Partners or Sorare, several large teams in Europe were able to use blockchain technology in the first phase as Consensys emphasized, and it is precisely in the tokenization of activity between fan clubs.

Juventus, Paris Saint Germain, West Ham, Rome and more recently FC Barcelona are successful examples of the major European football leagues that are already present on the sports platform with Blockchain Technology Partners to issue their own tokens that can be used in a Variety of activities on the platform.

Blockchain at the institutional level

However, the introduction of blockchain technology in the sports world does not only apply to clubs and fans. Organizations like UEFA, the European subsidiary of the FIFA governing body for the old continent, have already turned to blockchain to solve one of their big problems with their massive sporting events: reselling tickets.

While the coronavirus pandemic delayed the sports mainstream with blockchain technology, UEFA reportedly turned to a blockchain-based mobile app to offer a counterfeit-proof ticket sales solution for the next euro.

The system would allow fans not to have to go to the ticket counters, but simply turn on their Wi-Fi on their smartphones when they arrive at the stadium to activate their ticket QR codes, which are supported by blockchain technology, prevents counterfeiting and gives them access to the ticket, sports event.

The measure would also avoid wasting paper while enabling a massive sales system for a large number of countries.

More future adoption

We are still in the early stages of developing and applying use cases for blockchain technology. The power of blockchain on the sports field is quite large and not only great sports like baseball, hockey, soccer or basketball can benefit from disruptive technology.

There is still a long way to go and maybe the best will come, from fair contracts between players and teams celebrated in the blockchain to direct fair rewards without intermediaries between fans and clubs. These are some of the features for immediate use that the bravest are likely to dare to implement.

The nice thing about sport is that we can always improve. Technology has this quality too, and blockchain is no exception.

To this end, it will use the support of other technological advantages to help it expand within the sports world, such as IoT devices, to track athletes’ sports data more closely.

Blockchain technology, as reflected by Avesta Hojati, DigiCert’s RD director, for local media, It is a tool that improves digital identity management and is more difficult to invade.

“With blockchain, this invasion is already more difficult, but if it does happen, it’s possible to track and find out when the data was changed. Not to mention that with blockchain, all information in a system can only be added if and where a consensus has been reached. Another factor that makes it difficult to change data without a trace, “added Hojjati.

The acquisition will be in the hands of sports companies and institutions as they finally have the opportunity to take advantage of blockchain’s technological benefits to add value to the sector, as Hojjati concludes in his speech.

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