Meet Jetcoin, the newest alternative to Bitcoin. It is a digital currency that gives sports fans a special opportunity to benefit from the success of their favorite teams. To clear things up, Bitcoin is a virtual currency used in sports betting. It is not to be confused with actual paper currency because bitcoins are not issued by a bank. Rather than relying on a central bank to validate transactions, bitcoins are exchanged over a distributed network through encryption, which allows people to make anonymous online payments without involving a middle man, like a bank.
In using cryptography to regulate transactions, Bitcoin is less susceptible to fraudulence. Think of cryptography as a series of enigmatic, high functioning codes with immense computational power. Anonymity offers substantial security. The reduced risk of fraud and low transaction costs attracted businesses and lured thousands of consumers into the already thriving Bitcoin community, which gives rise to many ethical dilemmas.
The anonymity of Bitcoin can blur the link between transaction and individual, making it extremely difficult to prosecute those who are involved in corruption. For sports Bitcoin’s ambiguity can simplify the process of match-fixing, as it would no longer require several groups of people to navigate through internet security and pull off a successful fix.
So what is Jetcoin?
It is basically a version of Bitcoin created to personalize the field of sports entertainment and change the relationship between fans and sports teams. A new digital coin issued by Jetcoin Institute, Jetcoin is the first cryptocurrency to sponsor a soccer club, Italian Serie A’s A.C Chieroverona.
With Jetcoin, anyone can own IP rights to up and coming athletes or teams. A spinoff from Bitcoin, it is a digital currency for sports fans, analysts, and betters to obtain monetary rewards as well as privileged access to their favorite teams and athletes. Some of those perks include seat upgrades and VIP entry to exclusive events and after parties. Jetcoin Institute has teamed up with prominent service providers like Samsung Sportsflow and Pogoseat to offer exclusive deals to Jetcoin holders, which may potentially revolutionize the landscape of sports entertainment.
Jetcoin’s sponsorship of A.C Chieroverona will increase not only their popularity but also exposure for all cryptocurrencies, which could topple the hierarchical structure of sports entertainment by transferring to fans the previously unchallenged control held by agents and corporations.