The Italian Serie C football club Rimini FC 1912 became the first team in history that is purchased in cryptocurrency after a company that uses blockchain technology decided to purchase 25% of the club via an alternative crypto-payment method.
Named Quantocoin and based in Gibraltar, the company provides a native crypto payment method for investors and has made the purchase in its cryptocurrency of the same name. Pablo Dana, who is a partner of Quantocoin noted that this purchase will be the first of many that his firm wants to make in the industry.
As he said, cryptocurrency offers a unique opportunity to fight corruption in a sport which has had too many cases of high-profile scandals involving cash. One of them which he pointed to was the recent accusation that Qatar bought votes as they won the right to host the World Cup in 2022.
Quantocoin Cryptocurrency Purchases Stake in Italian Football Club Rimini FC 1912 https://t.co/ZGSgdsQHCv via @bitcoinsguide @quantocoin @pablovdana @Oficial_RC3 @TheRealSalgado @PatrickKluivert #forbes #ethereum #cryptocurrency #btcpics #ico #gibraltar #BBC #cnbs #success
— Quantocoin (@quantocoin) August 31, 2018
What’s important in this deal is that the blockchain-run Quantocoin payment system is unique because it logs every instance when a payment is made – all thanks to the system of autonomous, incorruptible and constantly updating nodes. Therefore, the money paid between football officials, players and agents can be monitored in order to ensure that there is no bribing or backhanding.
Dana also stated:
“We are working exactly on the ideas that UEFA want to put into place,” explains Dana. “This is transparency in football and we are looking to reduce corruption through our Quantocoin platform.”
This is not the first time cryptocurrencies are mentioned in the world of football. Earlier this month, two English clubs in the Premier League officially presented their crypto sponsors. While UEFA has not given an official statement on cryptocurrencies, the use of mobile currencies like Quantocoin fits in with the organization’s 2017 anti-match-fixing initiatives to combat corruption, fraud and money laundering.
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