Blockchain technology has applications in multiple trading industries. Banking, health, insurance and many other industries have adopted Blockchain technology. The question is, can you trade football players using Blockchain?

Back in the summer of 2006, two highly rated football stars moved to <a href="https://www.whufc.com/">West Ham</a> football club. However, the transfer was the most controversial saga in the era. <a href="https://sw.wikipedia.org/wiki/Javier_Mascherano">Javier Mascherano</a> and <a href="https://sw.wikipedia.org/wiki/Carlos_Tevez">Carlos Tevez</a> transferred from Corinthians. On the contrary, the Brazilian club did not own them. A consortium of companies held their economic rights leading to complications in contracts. West Ham had to pay a fine of £5.5 million.

Moreover, the Premier League abolished third party ownership of players following the saga in 2008. A few years later, the bitcoin  community published the a paper announcing the revolutionary technology;  which could change how assets are people own, trade and stock assets. A decade later after the <a href="https://nakamotoinstitute.org/">Satoshi white paper</a> was published, thousands of applications have been created utilizing Blockchain technology. Most notable, the first cryptocurrency: Bitcoin.
<h2>Footballers in the Blockchain</h2>
A lot of famous footballers have already boarded the Blockchain ship. Earlier, former Liverpool star Michael Owen unveiled own cryptocurrency. Additionally, Lionel Messi has endorsed a Blockchain smartphone. But the idea is players being on Blockchain themselves. This is the idea of a payment expert who thinks Blockchain can transform the football transfer market.

<em>“The ledger entry for a single player could be divided into multiple shares, each capable of being sold individually to create a fractional ownership scheme.</em> Depending on the type of ledger technology used, these shares would be tradable and could be bought and sold via exchanges – teal folding money being used in exchange for player tokens.” Lu Zurawski who practices lead for retail banking at payments systems firm ACI Worldwide, stated.

Note that the rights of a player would remain with the club they play for. Decentralized digital ledger would only provide a secure, dependable verifiable record of ownership. In addition, this would allow fans or investors own a stake of the players.

Mr. Zurawski explained:

“Given the murky reputation of football dealings at all levels of the game, such a system might be a great way of cleaning up tax evasion, money laundering and, potentially, modern day slavery. The Premier League or football governing bodies like UEFA or FIFA would need to be onboard with such schemes before they achieve ubiquity.’’
<h2><strong>In conclusion</strong></h2>
Other sectors such as <a href="https://www.cryptoknowmics.com/crypto/cryptocurrency-blockchain-revolutionizing-art/">arts and property</a> are adapting tokenization. Tokenization of assets would eliminate the need of brokers and other middlemen. This would fasten transactions making them quicker, transparent and even more importantly, cheaper.

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Tokenization of players; future of football transfers deals

Blockchain technology has applications in multiple trading industries. Banking, health, insurance and many other industries have adopted tokenization

My first love is music – then goes writing. I don’t write fiction, I analyze bulls and bears in markets. I call it my jungle, the digital jungle of crypto and chains.

Tokenization of players; future of football transfers deals

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