The founding president of the Bitcoin Association Jimmy Nguyen has been discussing the future of sports, and the role Bitcoin SV (BSV) can play in transforming the sports industry, both now and in future.
In an interview with CoinGeek at the Future of Sports event in Moscow, Nguyen said that Bitcoin was the only blockchain ready to handle the needs of the sports industry right now, with the capacity to scale as necessary to respond to demand.
Bitcoin SV is the only blockchain capable of supporting microtransactions at the scale required of the sports industry, which tends to have significant peaks in interest around key global sporting events.
Fixtures like the soccer World Cup, the Olympics and the Super Bowl tend to lead to huge spikes in traffic in concentrated periods of time. According to Nguyen, the scalability of BSV means it’s the only blockchain ready to respond to these demands today.
Nguyen also spelled out the benefits of an honest public ledger in the sports sector, particularly applicable in sports betting as one obvious use case.
With provably fair records on the blockchain, BSV can deliver honest wins, honest transactions, and provably fair, honest sports betting, improving trust in the betting sector as well as delivering better value for players.
Beyond sports betting, the event also saw topics such as the use of BSV as a platform for anti-doping technology targeting amateur sports, with records recorded and written to the blockchain for independently verifiable, immutable record keeping.
The event also saw discussions on tokenization on BSV, with a number of commercial applications for sports fans.
Nguyen hailed the event as a success, with developers and stakeholders from across Russia and the wider region heading to Moscow in support of BSV.