Gibraltar United Makes History With Cryptocurrency

BTC Wires: Way back in 1943, at the time when Gibraltar United was formed, little did the management council know that one day they would become the world’s first Football club to remunerate its players in cryptocurrency. 75 years later Gibraltar has taken an initiative that can well be termed as a tremendous leap with regard to technical advancement. Pablo Dana, the team’s current owner is himself an investor in a platform providing crypto for everyday uses, called Quantocoin. Although this is not the first time that crypto has initiated help towards a valid use case in sports, its still is a noteworthy and eminent one.

Since Gibraltar’s judiciary has been favouring blockchain implementation in the state and have been open toward the technology, it becomes easier to work on real time uses cases with support from the government. After the regulations set in January earlier this year, Gibraltar has welcomed the technology with arms wide open. Dana’s vision is to bring the transparency to football and fight the corruption that has shrouded the sport. This vision is fuelled by the history of Gibraltar’s adaptability with respect to technology.

With more football teams incorporating blockchain and cryptocurrency as their mode of payment for players, Gibraltar’s initiative is a tremendous boost to the movement, and, in turn for the ecosystem. Having seen participation and involvement from Football stalwarts already, the crypto community has enough faith from celebs to boast about. With names like Lionel Messi, Roberto Carlos and Michael Owen in its kitty, cryptocurrency relate projects have been endorsed quite diligently by these sporting legends.

Recently, hypes like Didier Drogba’s becoming the brand ambassador for All.me, a crypto based social media platform, and Luis Suarez promoting a blockchain platform for predictions have furthered the crypto community’s faith. It can thus be concluded that it is most likely for the ecosystem to continue seeing such participation from influential individuals and parties in the future too.

Dmitriy

Having majored in Social Psychology and Economics, I worked as a team lead of a tech and fundamental analysis lab in the Applied System Analysis Research Institute. I write financial articles for various international media. I also hold the position of a Chief Analyst at RoboForex.