Yesterday saw the first closure of the football transfer window in England. The window is still open, however, due to different regulatory rules, some countries are losing access to it a little earlier than others.
What is a transfer window?
If you are not familiar with the question, twice a year professional football associations allow teams to “swap” players, clubs can buy players or loan them. We are interested in the transfer of funds during this period - players are sold on a regular basis for amounts in excess of £50,000.00, a lot of money is made and spent in this market. These transactions are often international, as clubs in different countries often buy players from each other. This is where XRP comes into play.
Currently, football transfers use fiat currencies (sterling or euros), which can often cause delays in the final signing of the contract, and also carry high commissions. Using fiat also means that clubs can lose money due to its volatility. In this transfer window alone (between June and August), the fall in the value of the pound due to Brexit cost English clubs £88.3 million euros through conversion into euros and other currencies.
What does XRP have to do with it?
Firstly, by using XRP clubs will stop losing money on currency conversions. Of course, the team will eventually trade XRP for fiat anyway, but they can do so on their own terms when the exchange rate is appropriate. There is also the possibility of making money - for example, a player was bought for £20 million in XRP, in a couple of days these assets could be worth £21 million, although their price may fall.
The real advantage of XRP in this area is the solution the company uses to make fast and transparent payments. This solution will reduce the likelihood of bribery or bribery in clubs and reduce the time it takes to process payments. This will essentially speed up the transfer process, giving football clubs more time to actually collect signatures. Nobody wants to be like Tottenham Hotspurs, who set a record this year without signing a single contract this summer.
Price volatility complicates things a bit, so XRP is not ready for professional football at the moment. However, you will agree that it could bring a lot of benefit to this market. Who knows, maybe one day transfers will be paid in XRP?
According to https://cryptodaily.co.uk
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