Blockchain: From Fintech to the Future of Sport

Abstract

In this chapter, Khaund gives an explanation of the oft spoken about but little understood blockchain. He walks the reader through likely applications of the blockchain technology on and off the sporting field taking time to outline the revolutionary power of smart contracts for athlete compensation, gambling, and even broadcasting contracts. He argues that anywhere transactions between multiple parties occur or privileged management of data exists, blockchain will become the de facto solution and even lead to new business models. In his view, the short-term benefits will be limited by the willingness of the incumbents to accept drastic change, but the long-term future of sports will be assuredly and profoundly impacted by blockchain.