Gibraltar United F.C., a Gibraltar football team founded in 1943, will pay salary to their players in the form of cryptocurrency, Quantocoin (QTCt).
Pablo Dana, the F.C.’s owner, is an investor in the Quantocoin ICO. According to Dana, cryptocurrency payment agreements will be signed by all Gibraltar United’s footballers from the next season.
As the owner explained, the cryptocurrency shift was prompted by a “preoccupation with transparency”. He said that the blockchain tech will help in cutting down the “corruption scandals that have plagued football.” This step also will be a relief for foreign footballers who are experiencing difficulties opening bank accounts in the British Overseas Territory.
“Gibraltar was is one of the few countries regulated betting companies 20 years back, when everyone was seeing them as horrible. They put compliance and anti-money laundering regulations and created a platform — they have the intelligence to do the same with cryptocurrencies,” Dana said.
The implementation of cryptocurrencies in old news for the sports industry, though it is usually focused on betting, project promotion deals and gaming. Quantocoin coins are not available yet. The ICO will be completed in August, 2019.
