One of the wealthiest football clubs in the world is planning to launch its own cryptocurrency.
PSG will partner with a blockchain company named Socios.com and the project will be based on a concept that already exists for fans of Barcelona. This is France’s most popular team and plays in nearly all soccer leagues. The club is actually owned by a Qatar company and was one of the first clubs in the world to make the most expensive transfer fee of more than $260 million for purchasing the amazing Neymar in 2017.
Socios is powered by a sports blockchain venture that already backs up high profile players including one of the most popular exchanges Binance. That blockchain venture is named chiliZ and it managed to raise above $60 million. Chilliz CEO noted that they are looking forward to collaboration with other popular football clubs.
“We are focusing on onboarding the biggest clubs in Europe and in the coming weeks, we will announce other big clubs who will also be joining our platform. Outside of France, our priority is clubs in the UK, Italy, Spain and Germany.”
This partnership will allow all fans and supporters of PSG by launching a fan token to gain access to PSG branded tokens that will include voting rights and offer VIP status to their holders. Fans will ultimately be able to vote for issues such as the color of the jerseys, logo, player of the month and etc. Also, these PSG tokens will be tradable against the chilliZ native token.
PSG is the first high profile club to welcome such project and the creators behind the project expect that this platform will engage in providing education for a large number of people.
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"We let the market drive the expansion and selection of the network incrementally. We are really feeling excited that we are on a roll to build something new and revolutionary that's really going to change the landscape of cross-border payments."The reports also show that the Blockchain World Wire provides support for about 50 currencies currently, for payments in about 72 countries around the world. This method makes possible for taking out the intermediary between legacy bank settlement systems with the help of the XLM token because of its immutability and its efficiency as a decent settlement instrument between institutional players. Lund further emphasized in an interview about IBM’s issuance of the settlement asset:
“Our view for stablecoins is really that they should be more broadly accessible and what World Wire seeks to do is to provide fungibility of digital assets across financial institutions.”
Korean IT Conglomerate Kakao Integrates Crypto Wallet For 44 Million Local Users
“Following the integration of Blockchain Keystore on Samsung, the integration of a crypto wallet by Kakao, which is used by the majority of messaging app users in the nation, is expected to expand blockchain services and usage.”Kakao is estimated to have raised about $90 million for its blockchain network Klatyn development and the integration of the crypto wallet is another way to expand and introduce the network to the public. The executives from the industry said that Kakao Talk will be ‘’used as a crypto wallet’’ and will enable users to run multiple blockchain applications but to also send, receive and store cryptocurrencies. One of the executives said:
“Kakao needs a cryptocurrency wallet for users of Klaytn and the best way to roll out the service is to integrate a crypto wallet into KakaoTalk, which over 80 percent of the population of South Korea use to communicate.’’Issuing a public promotion by Kakao is really important for further mainstream adoption. With Samsung and Kakao issuing their own wallets, Korea is among the top countries that will easily make a DLT disruption. If Kakao moves ahead with its plans to integrate the crypto wallet in a messaging app that nearly 10 million users use it in South Korea alone, the most used device in Samsung Galaxy S10 and the messaging app will have native support for crypto. There still hasn’t been an official confirmation from any representative at KakaoTalk. Currently, the sentiment for launching a crypto wallet by Kakao is positive and local investors show optimism for initiatives of this kind that will hopefully lead the country to be the leader of blockchain and crypto development.
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- Ledger Nano S Wallet Receives First Level Security Certificate From French ANSSI
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- Korean IT Conglomerate Kakao Integrates Crypto Wallet For 44 Million Local Users
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