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London Football Exchange scores a goal on the blockchain
London Football Exchange scores a goal on the blockchain
Blockchain

London Football Exchange scores a goal on the blockchain

By Fabio Lugano - 11 Jul 2018

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The acronym is LFE and stands for London Football Exchange. Well the LFE and Penta announce what could be the biggest blockchain project in the world of professional football.

The two organizations have indeed agreed to implement the first decentralized application for the football fan community.

The platform, created in collaboration between the two organizations, will be able to manage ticketing activities, even for special events, or it will be used to offer particular contents, such as pre-race stadium visits, meetings with teams, etc …

The co-founder of the football scholarship, Jim Alyward, declares:

At LFE we are developing a platform where football meets the blockchain and where we can create a profit for all participants. Penta is the kind of collaborator in development that will not only help us develop the football community, but that will allow us to identify new opportunities.

The partnership involves a technical collaboration on three levels:

  • Penta will supply blockchain technology to LFE including the development of smart contracts;
  • LFE will use Penta for the development of its decentralized applications;
  • LFE will accept the PENTA token (PNT) during the development process.

Recall that since April LFE had expressed its willingness to propose itself as an alternative financial platform for football clubs and as a place where they could find additional financial resources, both with quotation of part of the assets, and capitalizing the issue of tickets for other services to fans.

Penta is a structure, financed through the PNT token, which is proposed as a development basis for both public and private blockchains. The token naturally had an excellent response after the announcement:

Fabio Lugano
Fabio Lugano

Graduated with honors from Bocconi University, Fabio is a consultant for companies and wounded shareholders of the Banche Venete. He is also the author of "Scenari Economici", and lecturer and analyst of cryptocurrencies since 2016.

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