Decentralizing The Sporting System One Blockchain At A Time

Published On May 18, 2018 | By Maria Merritt | Technology

Sports is immersive and exciting. It gives people the opportunity to forget their troubles for a while and immerse in the beauty that sports offers. It builds on the natural competitiveness of man and is an excellent way to let go of one’s inhibitions. The sports industry is humungous and every year billions of dollars are being made. But the truth is that the common people are not part of this mega money-making sector. They are just mere spectators but that is about to change.

Blockchain technology is here to stay

This is a technology that has already affected many industries such as medicine, food, and construction. Serious efforts are underway to ensure that the sports industry is also brought under this realm. The truth is that sports as we know it will be disrupted. Things like Virtual Reality, which allows the common people the chance to feel up, close and personal in a sporting event, has challenged the TV as a medium to watch sports on. Previously, one could get that feeling only by being present at the stadium but VR has made it possible for people around the world to do so from their living rooms. In the same way, barriers are being broken to make it possible for the common public to enter the sporting arena with the help of blockchains. It is going to be the era of smart and more efficient sporting ecosystem: one that even the fans and spectators can truly be a part of.

Real-world reasons why decentralization of sports is the next big thing

Transparency and openness:

With everyone being able to participate, there will be no monopoly of clubs and agents, no matter how well their pockets are filled. All transactions are visible and there is no fear of anything ungainly happening.

Efficiency:

The system is very efficient and because everything is so transparent, it becomes easy to get the mandate of the people and accelerate the flow of the commercial value.

Decentralization:

This is the key why this technology is going to take the sporting sector up by many notches. Since all the information and transactions are recorded in their whole truth, the chances of forgery are just not there. If there was any worry about corruption, it does not have to be there because it is not possible.

Professionalism and compliance:

The best thing about participating is that there are international teams of experts who make sure that every right of participants is being held up in the correct manner.

The truth is that globally sports is becoming a very commercialized industry and it is time that the common people were allowed to come in and enjoy the fruits. With decentralization, this is now possible. The sporting industry could be very different in 20 years from what it is now. When the industry is more centralized, its revenues will increase because more money will be put in.

Like this Article? Share it!