Cryptocurrencies

The Blockchain to manage transfers in football? – Cryptocurrencies

Goal goal goal

Football has become a real industry, and now generates billions of dollars in income which is unevenly distributed. To try to bridge the gaps between different clubs, FIFA therefore initiated the solidarity mechanism. In particular, this allows training clubs to receive percentages for the resale of the young nuggets they have trained. Despite this measure, some young players escaped this policy under the influence of agents and other corrupt leaders. Brazilian football club CR Vasco de Gama and the Mercado Bitcoin exchange have therefore decided to symbolize transfers at the start of a football career.


500,000 chips giving the right to a sales percentage for any player trained at the club

The solidarity mechanism allows the sharing of 5% of the total value of each international transfer of a footballer between all the clubs where he played until the age of 23. Through cooperation between Vasco da Gama and Bitcoin Mercado, a token will be designed to correspond to a percentage on resale. With a total of 500,000 tokens planned, the club thus hopes to recover after sale about 9 million dollars. President of the Brazilian club, Alexandre campello admitted that he has been looking for opportunities to generate income through cryptocurrency since 2018.

“This initiative is part strategic planning actions implemented by the current management, with strong commitment from finance, legal and football departments, and with financial support from KPMG. We are a club that has traditionally developed great players. Many important Brazilian players have emerged at São Januário »He declared. With players trained as Philippe Coutinho, Douglas Luiz, Alex Teixeira and Allan Marques Loureiro which are internationally successful, the club does have arguments to make to justify its project.

An idea soon extended to other sports training

In order to ensure compliance with the regulations in force on digital securities and currencies, the club has taken the trouble to consult the Brazilian Securities and Exchange Commission. A necessary precaution to allow Bitcoin Mercado of start the pre-purchase of 20% of the tokens. The exchange hopes to be able to rally other football clubs to this project.

“It’s a token that should change the way football treats the FIFA solidarity mechanism. Vasco is the first club in the world to have this token, but we want other clubs to have it. We are convinced that we can create a new source of income for football clubs »Declared Reinaldo Rabelo, the CEO of Bitcoin Mercado.

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The initiatives bringing together blockchain, cryptocurrencies and football are starting to multiply with this Brazilian initiative. Recently it was around the Japanese player Keisuke Honda to launch a cryptocurrency to better interact with its fans around the world.

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