RATE Group | Premier League clubs trial cryptocurrency as experts predict bitcoins will replace sterl…
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Premier League clubs trial cryptocurrency as experts predict bitcoins will replace sterl…

20 Aug Premier League clubs trial cryptocurrency as experts predict bitcoins will replace sterl…

Posted at 22:15h in Cryptocurrency News by

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Premier League football bosses will soon be paying for the best players in bitcoins, it was claimed on Monday night, after seven top-flight clubs launched cryptocurrency trials.

Tottenham Hotspur, Leicester City, Newcastle United, Southampton, Cardiff City, Brighton and Crystal Palace have agreed to set up digital wallets with an online trading platform which says it is in “no doubt” the currency will eventually replace sterling in the multi-billion pound transfer industry.

The bitcoin system will also help clubs tackle ticket touting and counterfeit merchandising, according to online trading firm eToro, which has paid clubs to take part.

Blockchain and cryptocurrencies, which have no physical form and exist only as strings of computer code, were launched with the goal of becoming decentralised currencies. Iqbal Gandham, UK managing director at eToro, told the Daily Telegraph the use of bitcoin in the multi-billion pound transfer market would improve “transparency”.

He said the…

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