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A football club purchased in Cryptocurrency

A football club purchased in Cryptocurrency

As cryptocurrency gains popularity day after day, it is difficult to purchase major items or services using cryptocurrencies. However a major move football and digital currency have been, after one of the professional Italian football clubs have been purchased in cryptocurrency. This imprints a major mark on the digital currency world. There have previously been multiple footballers who have used their names to verge for virtual currencies, but for the very first time an entire football club has been purchased using cryptocurrency.

Historical moment in football

Rimini FC 1912 an Italian football club playing in the professional Serie C league, have been making news in the crypto world for being the very first football team to have been purchased with cryptocurrency. 25% of the clubs ownership now belongs to Gibraltar who purchased the shares using Gibraltar- based cryptocurrency known as Quantocoin.

Quantocoin blockchain payment system boasts of its feature that ensures every payment made using the coin is logged on an autonomous system that is transparent and incorruptible. This basically is put in place to ensure that monetary transaction between players, clubs, and agents can be monitored hence no corruption money can be paid.

Pablo Dana, a partner at Quantocoin said that this is only one of the many acquisitions the company will purchase in cryptocurrency. He further explains his confidence in cryptocurrency as a means of eradicating corruption and corruption scandals in sports, such as the rigged voting malarkey, which caused Qatar to be accused of buying votes in a bid to host 2022 FIFA World cup. Though it was big news when Rimini FC was purchased in cryptocurrency, the major purpose of Quantocoin according to Dana, is to reduce corruption and increase transparency in football.

Crypto adoption in football

Previously European football welcomed crypto with open arms, though UEFA has not yet given their views on Gibraltar being the first company to purchase a football club in crypyocurrency, and their aim to clean up corruption in sports, the mark left by the cryptocurrency in football can’t be underestimated. In July Quantocoin had also made crypto news as it was one of the cryptocurrency that was to be used to pay players of another football club, Gibraltar United.

So far Rimini FC  1912 has not yet issued their comment concerning being the first football club to be purchased with cryptocurrency .However, this is will encourage more purchase of similar kind using cryptocurrency as digital currency tries to leave a footprint in the football world.