New Era of Innovation: How Blockchain Technology Can Help to Transform the Sports Industry in India?

In this video Siddharth Jaiswal is the Founder and Chief Executive Officer (CEO) of Sportzchain explains how blockchain technology can help to transform the sports industry in India.

Blockchain Technology in Sports: Blockchain technology can help transform the sports industry in India, a very interesting and hot topic of 2022. Blockchain is a decentralized system which is not owned or operated by a single entity. Hence, providing benefits such as transparency, trust is more secure, and more importantly, it is direct to users.
Now coming to blockchain in sports, firstly, let’s understand how the current sporting ecosystem works, especially towards Fan Engaging. Currently, there are centralized social media platforms such as Twitter, Facebook, Instagram, where sports teams and fans connect and engage. But unfortunately, it is not a win – win for both as fans aren’t sure whether they have been heard because it’s a one way communication, whereas the teams are not motivated to drive insightful communication, as anyone can come on these platforms and claim to be a fan which genuinely needs to unconstructive discussion.
Blockchain technology plays a very critical role, where concepts like sports token & NFTs generally solve such problems.The technology helps fans and sports teams get connected directly and more importantly, create financial incentives for both the stakeholders. In this video Siddharth Jaiswal is the Founder and Chief Executive Officer (CEO) of Sportzchain explains how blockchain technology can help to transform the sports industry in India.