Paris Saint-Germain (PSG) Plans To Launch Its Own Cryptocurrency

Paris Saint-Germain (PSG), a major French soccer club in the nation’s best league, is wanting to issue its own cryptocurrency as an approach to boost support from its fans far and wide.

PSG, which flaunts unmistakable players including Brazil star Neymar, reported a multi-year association on Tuesday with a Malta-based blockchain startup called Socios that will handle on the innovation for the alleged Fan Token Offering.

As per a French news site, PSG is currently looking at a due date of spring 2019 to begin issuing its exclusive tokens, making it possibly one of the primary soccer clubs anyplace to do as such.

Instead of a monetary part for PSG’s coin nonetheless, the objective is to permit fans who hold the token to have the capacity to vote in favor of and settle on less key issues, for example, such as team jersey decisions or adversaries in amicable matches, the report said.

Token ownership will additionally give fans access to more restrictive offers, for example, meeting with players or taking part in specific matches, the report included.

By embracing blockchain as the underlying innovation for the issuance, PSG said the expectation is to influence the surveying to process more anchor and straightforward, with transactions openly seen.

PSG’s main association officer Marc Armstrong commented in the declaration:

“Paris Saint-Germain is determined to leverage the opportunities that cryptocurrency can provide. This revolutionary technology will have an important impact on the club’s overall business strategy and the way we engage with our fan base.”

With the news, PSG takes after other European soccer clubs into grasping the possibility of blockchain and cryptocurrency.

CoinDesk revealed a month ago that seven big clubs in the U.K’s. Premier League including Newcastle United, Crystal Palace, and Leicester City signed a deal with online investment firm eToro to permit sponsorship payments in bitcoin.

Also, in August, the Union of European Football Associations (UEFA) said it had finished an effective preliminary of a blockchain-based ticketing application for a match between two best Spanish clubs.