• Blockchain

eSport on Blockchain

Chiliz, a sports blockchain venture, gives sports and e-sport fans the ability to crowd–manage their favourite teams, games, leagues, and events. They announced in May this year, that they went into partnership with Binance Chain.

Alex Dreyfus a passionate net-entrepreneur since 1995 and the CEO of Chiliz said this move has the potential to get billions of sports fans engaged. It will allow brands and household names to become part of the cryptocurrency space.

Changpeng Zhao, CEO & Founder of Binance said: “Sports is the perfect vehicle through which to educate mass consumers about the potential and the utility of blockchain technology. I’m proud that Binance and Chiliz are leading that charge globally.”

People are normally afraid and sceptical about cryptocurrencies and blockchain. Combining this technology with something familiar like sports, it has the potential to get ordinary people excited enough to learn more about cryptocurrencies and blockchain technology.

The new Socios.com mobile app allows a vote and rewards. This application is the first–of–its–kind for football fans. Socios.com gets you closer to your team by allowing “the superfan” to vote on club–specific decisions. You will be able to vote if they want to change their crest, maybe want to check opinion on a kit design, or maybe they want to know which fans would like to meet at a club event.

Greater things will become of this partnership because of the $CHZ digital cryptocurrency. $CHZ is not like physical money such as dollars or pounds; this money only exists in the digital space. It can also only be spent on certain platforms. This money has no bank or middle man and you make use of a wallet to spend the altcoins. Cryptocurrencies use an encrypted peer–to–peer network to store your balance, as well as to confirm and verify transactions.

This network is called the blockchain. The blockchain is stored on devices like a computer, phone or printer. This is all done anonymized. The chain of blocks cannot be altered–in other words it is immutable. That is why Socios use the blockchain to maintain voting integrity while turning voting rights into an ownable commodity, i.e. Fan Tokens.

With Fan Tokens you can vote. For example, if you own Fan Tokens, your vote will count ten times in a poll. This is exciting since there are voting and influence rights that will be bought and sold on the platform in the form of Fan Tokens. It will ensure that your voice is heard.

Many platforms are beginning to implement blockchain in their design. Payment methods can be simplified by sending funds through your digital wallet, placing bets digitally, and pay–outs, by sending funds back to your digital wallet. If you no longer want your Fan Tokens you can sell it and exchange to whichever traditional currency you use.

Blockchain is evolving and entering the lives of many people. In the future, it will touch more ordinary people to develop a passion for it.

 

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