Blockchain technology can disrupt football academies across Africa by leveraging the possibilities of bringing direct investment to the players for the first time. In addition, this technology can stimulate local economies by providing educational facilities in the academies that will be open to members of the community.
There are prohibitive issues facing youth in many African countries – in which there are many talented athletes – from making a living from playing football. Modern football is driven by large corporations and multi-billion-dollar sponsorship deals and these huge players have a vested interest in keeping the structures of the modern game profitable for themselves. This concentration of wealth has overlooked a rich source of talent outside of Europe.
A new startup called Bitcademy aims to bring direct player investment via blockchain technology with the aim of finding and developing this untapped pool of talent whilst also trying to give some of Africa’s most disadvantaged youth educational opportunities.
Bitcademy is a Polish-based blockchain start-up and is planning on holding its ICO in Q4 2018, and has boldly set its sights on disrupting talent acquisition in the most popular sport in the world. In addition to the plan to build bricks and mortar academies – which will include the education facilities
The company also aims to develop an AI Talent Prediction Algorithm, which will allow the investors to follow the development of the players, which will allow investors and fans to pick, fund and help create the future stars of the beautiful game.
I spoke to Bitcademy’s CEO Tomasz Krystek on his plans for the project and how these will hopefully change the game for young African footballers.
“Bitcademy is a very unconventional business. It combines high tech & blockchain with traditional football academies. Our vision is to have a few solid revenue streams that you can add or cut like LEGO blocks depending on market situation. The main idea is to decentralize football – allow football fans to connect directly with young athletes. They sponsor them, they help them achieve professional careers and they can participate in the profit from their contracts. At one hand we’re building a whole virtual marketplace solution, fully scalable to other sports, tracking devices to monitor players and AI to predict talent. This is combined with brick and mortar academies, so our investors are sure about quality and transparency. It creates the whole ecosystem of possibilities as an offer to other sports organizations.”