History in the Making: Gibraltar Football Team to Pay its Players in Crypto
As cryptocurrencies are getting more and more popular, it’s no surprise that their underlining technology trickles down into various aspects of our lives.
Crypto enthusiasts with a passion for football will be delighted to hear that Gibraltar United, a Premium Division football team, will become the first to pay its players in cryptocurrency starting next season, as reported by The Guardian.
Gibraltar, football, and cryptocurrency
Gibraltar is one of the many countries that are leading the pack in terms of cryptocurrency adoption. The government introduced various regulations for businesses using blockchain technology as far back as January and is currently working on a solid framework for regulating ICOs as well.
Gibraltar United’s owner, Pablo Dana, aims to take full advantage of the state’s friendliness towards cryptocurrencies and aims to bring transparency to the sport and help reduce the financial corruption usually associated with football.
The owner has invested in Quantocoin, a platform that’s all about allowing ordinary people make the most of what crypto technology has to offer for everyday uses. One of the biggest advantages of using cryptocurrency is the fact that foreign players can sidestep taxes and fees.
Crypto increasingly popular among footballers
Gibraltar United joins the ranks of other football teams that have partially embraced blockchain and crypto technology such as Arsenal Football Club, a United Kingdom-based team, that signed a sponsorship with CashBet at the start of the year. Cryptocurrency is also becoming more and more popular among the ranks of football players.
Just last week, for example, Ronaldinho, the now-retired legendary Brazilian footballer announced a platform for football betting and e-commerce called Ronaldinho Soccer Coin. Other big names of players or former players who are involved with cryptocurrency include Didier Drogba (official ambassador for All.me), Luis Suarez, Robert Carlos, Luis Figo, Michael Owen, and Lionel Messi.