CSM Top-News

Blockchain in sports: The next game changer?

Is Blockchain the next game changer? The sports business is still hesitating. Why is that? A guest article by WHU senior professor Sascha L. Schmidt for Sponsors explores this topic.

According to the latest findings by Deloitte, based on surveys of executives from seven countries and nine different industries, more than three-quarters of the surveyed companies will lose competitiveness without the use of blockchain technology.

The study results show that Blockchain is currently on the rise. And this despite the fact the technical capabilities of the Blockchain are not sufficiently proven for business-critical use in companies. The first convincing applications for blockchain-inspired applications appear outside the sports industry.

It is surprising that sport has not yet addressed the topic of Blockchain more consistently. Especially when considering that market participants in the sports business are in a constant growth race, in which players must recognize new potentials and technological possibilities and exploit them before others do.

In order to remain competitive nationally and, more importantly, internationally, and to become less dependent on sporting success, clubs must generate new sources of income. At the same time, new technologies can help to optimize existing processes and increase efficiency; this too can give clubs a competitive edge. Blockchain could, therefore, be a game changer, as three application areas show.

>>> Read the whole article on LinkedIn