- Blockchain firm Socios has partnered with soccer club Juventus to initiate a $JUV token.
- Fans can map conclude the token and exercise it to vote on which song the club will play within the Allianz stadium.
- Yet another example of a mission that doesn’t desire a blockchain or a token.
File this under: issues that fully don’t desire a blockchain.
Juventus fans can now vote on which song could well be performed at the Allianz stadium when Ronaldo or Dybala receive. The settle? You enjoy to map conclude $JUV tokens thru the blockchain platform Socios to entire it.
I ponder within the event that they… sensible doing a Twitter poll as an different?
You don’t desire a blockchain for that
Socios, which raised $27 million from traders, aims to offer sports fans more decision-making energy over the golf equipment they treasure. The firm has partnered with Juventus, West Ham, and Athletico Madrid to offer fans ‘vote casting rights’ on club decisions (up to now, correct a preference of aim occasion song).
But to entire so, fans are compelled to have interaction the ‘Fan Token’ $JUV. The token charges €2 but as rapidly as you map conclude it, your money is exchanged to Socios’ Chiliz (CHZ) token – a extremely volatile and illiquid token listed on Binance.
To avoid wasting it into perspective, CHZ lost 60% of its price in two months between July to September.
It’s an absurdly complex and pointless system for fans to participate of their licensed teams. To no longer indicate, it adds substantial financial wretchedness by linking the tokens to a volatile asset.
It’s cherish the 2017 crypto bubble one day of all another time
These develop of initiatives popped up nearly daily thru the 2017 cryptocurrency bubble. Initiatives with out a accurate want for a token happy naive retail traders to make investments thru the promise of blockchain know-how. After $30 billion in ICO raises, there’s nearly nothing to reward for it.
It has since develop into certain that blockchain know-how has little staunch world utility beyond the transfer of censorship-resistant money, i.e. bitcoin.
Blockchains aren’t a dapper thing… blockchains must be costly to feature, to work successfully. This makes it a final-resort resolution, for those that with out a doubt set apart no longer want any pretty a few alternate choices accessible for fixing your bid; in nearly every case you cherish to enjoy a much less expensive and no more complex resolution than a blockchain.
If Juventus and Socios with out a doubt wished to enhance fan engagement, they’d exercise a frequent polling app. And within the event that they wished to offer fans well-known vote casting rights, they also can merely initiate up staunch investment channels thru equity crowdfunding.
As a change, this Juventus mission is little more than a headline beefy of blockchain buzzwords, created to counterpoint the entities that launched it.
This text used to be edited by Samburaj Das.
