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Blockchain Is Set To Disrupt The Sports Industry

Professional soccer player and blockchain expert Hal Robson-Kanu says sports professionals cannot ignore the blockchain's game-changing potential.

His startup is one of many trying to build solutions for the sports industry. No industry can afford to ignore the blockchain. Even the sports industry, according to professional soccer player and blockchain expert Hal Robson-Kanu, cannot ignore the technology’s game-changing potential.

Hal Robson-Kanu, who scored one of Wales’ most famous goals en route to the Uefa Euro 2016 semi-finals, says his fascination began when he read the original bitcoin white paper in 2008.

Blockchain Could Revolutionize Handling Of Sports Data

The sports industry is one of the places that many people will think the blockchain should be of no use. But Hal Robson-Kanu believes different. He believes that the advantages of blockchain are undeniable. Through the blockchain, he thinks sports people can have ownership of their data, profit from content creation, cut costs, engage firmly with their fanbase and other things.

He also believes that people are now understanding blockchain fundamental values and how it can enhance every person’s life.

Whether that’s from recording land registry records on blockchain or recording health records, executing purchases of a house, which would normally take six to eight weeks but could occur instantaneously and fully verified and completely transparent, he told SportsPro Media.

Death of Intermediaries

Hal Robson-Kanu, who’s the co-founder of Sports Ledger, says the blockchain could see the death of the intermediary. Omar Jackson is the director at Cryptech, basically a Berkeley Assets blockchain technology business. He says that the access to transfer a player from one club to another can be more quick, secure and efficient than it was before. He also states,

We’re talking about the transfer of paperwork because it’s a peer-to-peer system. You will have all the player’s details, all the information and data held on a blockchain. And that can be transferred from club A to club B, so that club B owns the rights to that data and, therefore, the player

Robson-Kanu’s Sports Ledger is one of the blockchain startups trying to remodel the sports industry using the blockchain. Sports ledger aims to create a social platform for fans, athletes and clubs to share content. On the platform, say cryptocurrency; Sports Ledger’s SPSL token can be a key to unlock and purchase the right to view other users’ content.

Blockchain Startups In The Sports Industry

Another firm operating in the sports’ industry space is Sorare, a French crypto firm. The company recently signed the world’s first soccer league-wide blockchain collectible deal with Belgium’s Jupiler Pro League. The partnership deal came just 12 weeks after the business’ launch.

Earlier this year, a London-based micro-financing tech start-up company known as SportyCo incorporated blockchain technology for supporting its clients. It launched both SportyCo Professional Fund and the Smart Manager Platform. These platforms enable complex smart investment contracts.

This year also Havas Sports & Entertainment and Havas Blockchain announced to have launched a cryptocurrency-based loyalty programme that rewards sports fans for “fan actions.” There’s also Global talent, which uses the blockchain to help clubs and players raise funding by selling future revenue rights to fans worldwide.

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Blockchain Is Set To Disrupt The Sports Industry
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Blockchain Is Set To Disrupt The Sports Industry
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Professional soccer player and blockchain expert Hal Robson-Kanu says sports professionals cannot ignore the blockchain's game-changing potential. His startup is one of many trying to build solutions for the sports industry.
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Coinpedia
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Akeredolu Feranmi

Feranmi is a guest author at Coinpedia.

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