Football and digital innovation
Football and digital innovation
Crypto

Football and digital innovation

By Contest Writer - 23 Jun 2020

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Imagine digital innovation applied to sports, more specifically, to football.

Imagine living in a world where Bitcoin is the primary currency.

Imagine living in a world where the blockchain is used by everyone, and there are only cryptocurrencies in wallets.

Imagine walking into a bar, asking for a coffee and paying in bitcoin. 

Imagine going to the cinema and buying the ticket to the show simply by showing a virtual card on a smartphone or a portable electronic device that contains tokens. 

As the blockchain is attracting the attention of institutions, federations, clubs and athletes in the sports world, it is not to be excluded that in the not too distant future, digital innovation will become a leading player in the football industry, completely revolutionizing the rules inside and outside the football field. 

In fact, more and more major football teams are looking with increased interest at the innovative blockchain technology in order to enhance a portion of their business and also increase fan engagement by offering more varied services and creating, for example, a proprietary currency.

With personalized tokens, the teams will build fan loyalty and increase fan engagement through the “small investor” game, which involves betting on a promising young man at the beginning of his career or directly entering the market of a favourite team by owning a share of the club managed in a safe and transparent way on the blockchain. 

During the last three football seasons, we have seen a radical change with the introduction of the moviola on the pitch. A turning point in the football world when we think of the power this technology has managed to achieve with a simple headset and a screen on the pitch. 

And what would be the advantage of also bringing power to a set of technologies, called blockchain, capable of revolutionizing the football world beyond the field of play? 

Unlike other digital innovations, the blockchain has the peculiarity of involving some apparently very different and distant ideas and themes that are not normally associated with digital innovation: trust, responsibility, community, decentralization.

And it is precisely thanks to this last concept that football clubs can have direct contact with their stakeholders without the need to involve third parties and thus ensuring, in addition to a significant reduction in costs by the clubs, a new relationship of trust between sports clubs and their investors based on transparency and security of their data.

This is possible because, besides the four fundamental principles, the blockchain offers other key elements that have a strong relationship with technology, but which in turn are not as “ordinary”, such as transparency, immutability and sharing

The advantages would be numerous because tokens are liquid, spendable assets, which can always be used without any risk of depreciation, but can also be exchanged or sold on the basis of a higher value than the original one, for example due to an important acquisition campaign carried out by the club during the summer: a sort of fantasy football, but real, safe and transparent, exactly as the blockchain shows us. 

So why not create the vision of an innovative, dynamic football, where all of us could be protagonists, or rather, “small investors”? 

Giorgia Alberti

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