With this year’s FIFA World Cup that was hosted by Russia, the crypto community has seen a fair share of football-related news slipping into various crypto-related headlines, or vice versa.
According to an article by Forbes, history has been made today as Italian Serie C football club Rimini FC 1912 has been purchased using cryptocurrency. What’s particularly interesting here is the fact that the purchase has not been made using by a popular cryptocurrency such as Bitcoin or Ethereum, but though an altcoin named Quantocoin.
Quantocoin is a very innovative blockchain platform that provides its investors with alternative crypto payments. The Gibraltar-based company now owns 25% of the club’s shares.
Pablo Dana, a partner at Quantocoin, expressed his thoughts on the matter and declared for Forbes the following:
“The purchase will be the first of many that his firm wants to make in the industry. He believes cryptocurrency offers a unique opportunity to fight corruption in a sport which has been rocked by a number of high-profile scandals involving cash, such as the accusation that Qatar bought votes as they won the right to host the World Cup in 2022.”
The partner made it quite clear that he believes that cryptocurrency is the perfect answer towards addressing the corruption that has plagued the sport for so long now. More to the point, Quantocoin’s payment system is particularly useful for counteracting the corruption as its payment system logs every instance when a payment is made. In short, any currency used to pay for various services between football officials, players, and agents can be efficiently monitored.
No official statement from EUFA
“We are working exactly on the ideas that UEFA want to put into place. This is transparency in football, and we are looking to reduce corruption through our Quantocoin platform,” Dana further commented.
Even though EUFA has refrained from officially commenting on cryptocurrencies and their potential use cases or benefits, the usage of Quantocoin tokens can address various issues the organization aims to solve in the following period. Fraud and money laundering are some of the biggest problems for EUFA that has recently revealed that starting next season, all European clubs will be required to release official data regarding their spendings on player wages or agent fees.
Despite its timid approach towards adopting blockchain tech, UEFA has made a small step towards this end by announcing that it has successfully tested the selling of tickets for the UEFA Super Cup final via a mobile-based blockchain app not too long ago.
What does this purchase mean for the future?
Both football and cryptocurrency fans might argue that this is not a great achievement since Rimini FC 1912 is not exactly an important team in the context of international football and, by all accounts, they are right. However, this event is bound to have various positive future effects. Who knows, maybe what happened today will actually set the stepping stones for future technologies that would allow people to invest in football teams through cryptocurrency.