In the second meeting organized last Wednesday on February 27 by Blocks&Breakfast, Go Madrid had the opportunity to assist an interesting chat about the possibilities that blockchain technology can possibly offer to the world of sports.
Covadonga Fernández and Álvaro Cobarro achieved to gather a table filled with diversity and experienced people who contribute in a way that is very honest about their points of views about these two passionate worlds.
Isabel Bolea, Ana Rossell, Óscar Yáñez, Toni Moral and Jesús Pérez in GoMadrid
We have slowly seen different sectors that are investigating the possibility of integrating technology blockchain in their systems and protocols. The world of sports will definitely not stay behind.
A revolution to come?
The economic models are evolving but do they have blockchain potential to come and revolutionize the world of sports?
The answer to this question will depend on the users. Even though they exist in the market, some examples in case of use are from soccer teams such as Paris Saint-Germain (PSG) are seen in a world to explore as Isabel Boleastates, “We are not capable of imagining what blockchain can offer. The difficulty here is to achieve new models of business.”
“The sports industry as a phenomenon fits well with the blockchain philosophy” as Óscar Yáñez from Grant Thornton states, and we can’t agree more. In the conference, discussions were made about how blockchain can improve significantly the transparency in competitions, secure the sales of entry and open possibilities in the world of resale within the legal framework or manage loyalty programs of fans and management of sponsors. In like many other sectors, women are penalized against men. As the CEO of AR10 and president of CD Tacon, Ana Rossell states, “The possibility of disruption in ownership of the club is closer to men’s soccer than it is from women’s soccer. Today, us women are even further away.” Rossell and her team are noting the lack of resources in the sector. They have teamed up with Grant Thornton to develop a virtual wallet for TaCoin, which in this case will utilize the blockchain links to create a new way of loyalty and relationship between the various agents and club fans. TaCoin will be a guinea pig for experts in the world of technology and sports.
Also, new creative ideas about the management of players, including different agents can “bet on a player from their start or in a club viable now with blockchain” Jesús Pérez, journalist and blockchain tech savvy.
Toni Moral, ex-soccer player and founder of Tookens Blockchain Technology mentions, “Blockchain is the new internet. The way that it happens to have the player an active soccer player is the way to break blockchain.” However, only athletes have to be protagonists. Moral’s project is the owner of Watafan, a revolutionary app who allows tokenizing a portfolio of digital autographs cryptographically signed by idols that fans can manage their ranking on the platform depending on demand and management of their portfolio. The transition of businesses anchored in traditional models toward blockchain has to be progressive. Today it is not prepared for a drastic change. To this day, we find blockchain with a vertical problem that slows down the process that Jesus Pérez points out: “Big businesses are investigation how to integrate new models as well as waiting for the regulation.”
Yáñez’s opinion in the possibilities of insertion of blockchains in the world of sports: “Blockchain can help in many contractual aspects, disruptions and especially create more stable relationships within different agents who invest.”