French Soccer Club to Launch its Own Digital Currency

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A Major French Soccer team in the country’s top league, Paris Saint-Germain (PSG), is intending to launch its own digital currency a way to incentivize participates from its fan around the globe.

Paris Saint-Germain (PSG), which boasts famous players including Brazilian Star Neymardeclared a multi-year collaboration with Malta-based blockchain startup called Socios that will take on the technology for the so-called Fan Token Offering.

As per a French news site, PSG is now looking at a deadline of spring 2019 to begin issuing its proprietary tokens, making it probably one of the first soccer clubs anywhere to do so.

The report stated, rather than a fiscal role for PSG’s coin, although,  the goal is to enable fans who hold the token to be able to vote for and decide on less strategic matters, like team jersey choices or opponents in friendly matches.

The report added that token ownership would further give access to more exclusive offers like meet and greet with players or participating in certain matches.

By embracing blockchain technology as the underlying technology for the issuance, PSG stated the goal is to make the polling process secure and transparent, with transactions being openly visible.

PSG’s chief partnership officer Mr. Marc Amstrong stated:

“Paris Saint-Germain (PSG) is set to leverage the opportunities that digital currency can provide. This revolutionary technology will have a significant impact on the club’s overall business strategy and the way we engage with our fan base.”

With the news, Paris Saint-Germain (PSG) supports other European Soccer clubs into adopting the idea of digital currency and blockchain.

In August, the union of European Football Associations (UEFA) stated it had finished a successful trial of a blockchain-based ticketing application for a match between two top Spanish clubs.

Nishanth Shetty

Nishanth Shetty is a technical writer, author and a crypto-advisor working at Cryptofame. Based in the city of dreams, Mumbai, on the west coast of India. He holds a bachelors degrees from Mangalore University. Nishanth has a myriad experience of technical writings for tech brands. His interests include technology, travel, and food.