Football Club in Italy Bought in Cryptocurrencies

August 30, 2018

3 min read

25% of the shares of an Italian football club called Rimini FV 1912 was bought in cryptocurrencies. Heritage Sports Holdings (HSH) which is a sports investment company in the United Arab Emirates carried out the acquisition. The company bought the shares in the cryptocurrency called Quantocoin (QTC). Hence this brings front a possibility of cryptocurrencies used for various football-related financial activities such as transfers and match tickets.

Rimini’s president Giorgio Grassi made the announcement. He stated in a press release-

“Negotiations with this group have been ongoing for a couple of months. Heritage Sports Holdings, with its partner Quantocoin, will try to bring to the team and to the city new ideas and synergies from the sporting, brand image and technological point of views. Heritage Sports Holdings’ participation is innovative in view of its crypto payment system and its use of blockchain technology.”

Pablo Dana who is a partner at Quantocoin spoke about the need for Blockchain to fight corruption in the football industry. He said–

“We are working exactly on the ideas that UEFA want to put into place.This is transparency in football, and we are looking to reduce corruption through our Quantocoin platform.”

Quantocoin (QTC) has developed a next-generation model for financial services. It hopes to connect QTC into the traditional financial world to create a single gateway for its users, traders, investors and financial institutions. QTC in the framework of football will help ensure that players and agents are not bribed.

The world of football is seen to adopt cryptocurrencies positively, mainly in European countries. With billions of people loving Football, cryptocurrency emergence to the mass population is a promising sight.

Cryptocurrency is bound to gain an advantage with the crowds that football appeals. As Twitter user, ‘Emptybeerbottle’ pointed out in his Tweet.

Wolves look so good this season. High hopes for them tbh, they really are a threat.

Side note, there's big #Bitcoin logos next to eToro advertisements on the barriers in this game. #Cryptocurrency is taking advantage of the audience that football offers for advertising.

— Emptybeerbottle (@Fullbeerbottle) August 18, 2018