The potential of blockchain technology in the sports industry
Could the use of blockchain by British Cycling's record keeping department have cleared up, quickly and authoritatively, the question of what was in the package delivered to Sir Bradley Wiggins at the 2011 Creterium du Daphine and why?
How about using blockchain to track performance data to formulate an effective training plan for athletes? Or for administering a sports club's fan loyalty scheme to maximise fan engagement?
Blockchain is a buzz word in the financial sector now, but the sporting world should also be alive to its potential.
This article examines how blockchain technology is being, and could in future be, exploited in the sphere of sport and considers some of the risks for such innovation. Specifically, it looks at:
- What is blockchain and how does it work?
- Potential opportunities for blockchain technology in sport
- Cultivation and utilisation of big data (e.g. for event results, individual player history and performance statistics)
- Fan engagement (e.g. club-specific virtual currencies/tokens, and loyalty schemes)
- Sports rights management and asset tracking (e.g. rights holders tracking rights they have licensed, and registering valuable sports memorabilia)
- Risks and author’s comments
...to continue reading register here for free
LawInSport is an independent publisher used by sports lawyers, sports business executives and administrators, athletes and support personnel, academics and students to stay informed of the latest legal issues and developments from the world of sport. It is our mission to improve the accountability, transparency and standard of the administration and governance of sport and the understanding of the law.
Thank you for considering becoming a member of LawInSport, supporting independent media and the promotion well researched, reference and accessible legal information that contributes to greater transparency and accountability in the sport and legal sectors.
This work was written for and first published on LawInSport.com (unless otherwise stated) and the copyright is owned by LawInSport Ltd. Permission to make digital or hard copies of this work (or part, or abstracts, of it) for personal use provided copies are not made or distributed for profit or commercial advantage, and provided that all copies bear this notice and full citation on the first page (which should include the URL, company name (LawInSport), article title, author name, date of the publication and date of use) of any copies made. Copyright for components of this work owned by parties other than LawInSport must be honoured.
- Anti-Doping | Blockchain | Broadcasting | Commercial | Cycling | Database | Football | Governance | Media Rights | Regulation | Techonology | United Kingdom (UK)
- Seven top tips when working on sports sponsorship deals from HSBC's Global Head of Legal: Sponsorship
- What the social media revolution means for sports fans and rights holders
- How the Premier League is conquering global markets
- Current trends in the acquisition of sports rights: multi-territory bidding and new technology
About the Author
Christina Henry is an associate at Wiggin LLP in at he Technology Practice. She advises a range of clients in the technology sector on commercial, regulatory and IP matters. Her recent work includes drafting agreements relating to the design and development of a blockchain network.