Italian Serie C Football Club, Rimini FC 1912 has become the first ever football team to be bought using Quantocoin [QTCT], a blockchain-based cryptocurrency. Quantocoin has partnered with Heritage Sports Holdings and has made the payment to the club in QTCT, owning 25% of the team.
Pablo Dana, who is a partner at Quantocoin stated that the acquisition is the first of many that the platform wishes to make in the football industry. Dana is of the belief that cryptocurrencies offer a chance to battle corruption in a sport has had one too many scandals from high-profile personalities from across the world. Dana made reference to the scandal where Qatar was accused of major wrongdoing and corruption in its determination to win the right to host the FIFA World Cup 2022.
Every time a payment is made on the Quantocoin platform, it would make a log of the payment on its system. This kind of payment system is said to be anonymous, incorruptible, and constantly updating its nodes. These new precautions will now ensure that the currency exchanged between football officials, the players and their agents will be continuously monitored. Additionally, this added security would ensure that bribes are not exchanged between either party. Dana said:
“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 stated:
“I think it’s the beginning of something incredible if someone agrees to sell a club worth millions of Euros in cryptocurrency,”
“These are innovators with a very long-term view. I think sports companies will start to use cryptocurrencies far more frequently and we have made history by being the first one.”
Redditor, Saidzia commented:
“Another way to wash stolen cryptocurrency.”
Another Redditor, AmoBitcoin said:
“I hope this starts snowballing! Nations and institutions buying commodities, teams, services etc., with Bitcoin. Wow!”
Redditor, Cassitipe added:
“I’ve played against them a couple of years ago in a pre-season friendly. What a time to be alive.”
Last week saw Premier League teams Crystal Palace FC, Leicester City FC, Newcastle United FC, Tottenham Hotspur FC and several other EPL clubs partnered with the United Kingdom-based trading platform eToro. Through the partnership, each club is set to use eToro’s digital wallet as a trial which could be used for purchasing players in Bitcoin instead of fiat currency.