The Eurocup, a continental soccer tournament that begins this Friday, June 11, will have its goals registered on the AntChain blockchain, owned by the Chinese conglomerate Ant Group, which also owns the e-commerce giant Alibaba and the AliPay payment method.
The news was released a day before the start of the competition, which opens today at 4 in the afternoon with the match between Turkey and Italy at the Olympic stadium in Rome.
The final is scheduled for July 11 at Wembley Stadium in London.
Registering scores via blockchain is part of a five-year sponsorship contract signed between UEFA and Alibaba, which also makes AntChain the official blockchain partner of the competition.
According to the UEFA statement:
“Blockchain technology is a method of recording information that ensures that there is a permanent and widely distributed record of each update, ensuring that transactions cannot be hacked or altered. […] Now, AntChain will also use the blockchain to store the records of the best scorers, not only from UEFA EURO 2020 but also from youth soccer in China. “
AntChain is a business-oriented platform for creating blockchain solutions and supports over 50 different use cases.
These include: Ripple-style international remittances, as well as banking and credit services such as loans, insurance, and invoice and card processing, as well as payments via blockchain.
According to Ant Group, the technology allows to process one billion transactions per day and can also be applied in the financial market, such as stock and bond brokerage services, stock quotes, and financial analysis.
The agreement with UEFA is seen as part of AntChain’s internationalization strategy outside of China.
The expectation, therefore, is that the sponsorship increases the international visibility of the Chinese brand. Blockchain already has a registered trademark in Brazil since December 2020.
In addition to AntChain, Alipay, also from the Ant Group, had already signed an eight-year partnership with UEFA in 2018.
This year, the company that shares the monopoly of digital payments in China with WeChat and participates in the digital yuan tests, names the top scorer trophy in the tournament of European teams.
The post Eurocup goals will be recorded on the Ant Group blockchain was first seen on BeInCrypto.