How the EPL Is Adopting Cryptocurrency

How the EPL Is Adopting Cryptocurrency

The English Premier League is the most watched football division on the planet. Games are watched regularly by billions of people around the globe, and this has made teams in England’s topflight perfect for the sponsorship and marketing efforts of companies.

Cryptocurrency is arguably one of the best things to ever come from the digital world. The technology has been growing in popularity all over the world, with millions managing their finances as well as transacting using Bitcoin via trusted wallets from Luno and other established companies. Therefore, it was only a matter of time before crypto companies would recognise the value of EPL clubs as a route to market, and it’s already paying dividends.

The money spent in the Premier League season on season, be it on wages, transfer fees and agent fees, is increasing at a rapid rate. Therefore, while the TV money each club receives year on year is climbing, clubs are looking at ways they can improve their revenue to balance the books and to comply with Financial Fair Play, otherwise known as FFP.

A cryptocurrency or cryptocurrency (cryptocurrency of the Saxon) is a virtual currency that serves to exchange goods and services through a system of electronic transactions without having to go through any intermediary. The first cryptocurrency that started trading was Bitcoin in 2009, and since then many others have emerged, with other features such as Litecoin, Ripple, Dogecoin, and others.

Bitcoin is a virtual and intangible currency. That is, you can not touch any of its forms as with coins or bills, but you can use it as a means of payment in the same way as these. Visit DC Forecasts site for the detail news of crypto from last year.

Undoubtedly, what makes Bitcoin different from traditional currencies and other virtual means of payment like Amazon Coins, Action Coins, is decentralization. Bitcoin is not controlled by any government, institution or financial entity, either state or private, such as the euro, controlled by the Central Bank or the Dollar by the Federal Reserve of the United States.

In Bitcoin control the real, indirectly by their transactions, users through exchanges P2 P (Point to Point or Point to Point). This structure and the lack of control makes it impossible for any authority to manipulate its value or cause inflation by producing more quantity. Its production and value is based on the law of supply and demand. Another interesting detail in Bitcoin has a limit of 21 million coins, which will be reached in 2030.

There are several opportunities to take advantage of, if you’re a company looking to get your name out to one of the biggest sporting audiences on the planet week in week out. Wolverhampton Wanderers were the first club to strike a deal with a crypto company when they agreed a partnership with a cryptocurrency exchange. Not only does the company branding appear prominently on the Wolves kit, the club also launched a promotional video which went viral on social media and YouTube.

A prominent trading platform which embraces cryptocurrencies made moves in the EPL last season, striking deals with seven of the twenty teams competing, with the likes of Spurs, Leicester and Newcastle involved. The door is well and truly open for cryptocurrencies in the Premier League, and it’s not just in sponsorship where they can have an impact moving forward.

We’ve already seen a blockchain based ticketing system rolled out by UEFA for the Super Cup in 2018, and it proved to be a success. A blockchain based ticketing system operating in the Premier League in future isn’t hard to imagine, especially as it’s an area which clubs have improved over the years. Most Premier League clubs are moving towards a paperless ticketing method, and a system which embraces blockchain would not only discourage ticket touts, it would make things run more efficiently as well.

2018 was the year we saw the first football transfer on the planet completed with Bitcoin when Harunustapor signed Omer Faruk Kiroglu. While the move was a gimmick in the eyes of the watching world, it’s likely that Bitcoin, the world’s leading cryptocurrency, will feature prominently in transfer deals moving forward. Bitcoin and other cryptocurrencies come with multiple advantages, and the ability to complete transactions across borders quickly, safely and with no interference is one of its most significant.

Finally, we come to players, the most crucial component in the football world. Premier League players are undoubtedly paid handsomely, as are most professionals through the pyramid, and this is an area where cryptos could again be adopted. We could see footballers paid via cryptocurrency in the future, and Ethereum Smart Contracts may play a prominent role here, and with transfers also.