KardiaChain is proud to announce that we are working with the Vietnam Football Federation (VFF) in research and applies blockchain technology into the Federation management system and across football tournaments in the country
In a country where football is considered a culture and religion rather than just a sport, watched and played by millions and millions of dedicated football lover, KardiaChain is thrilled to have the opportunity to work with VFF to improve the management progress of the Federation and increase interaction between different football teams and their devoted fans.
After many experiments and testing of new technology, supported by international football organisations including FIFA, AFC; VFF is determined to apply innovative technology to digitalise and provide a systematic control framework over hundreds of football leagues and thousands of players participating under the supervision of the Federation, from the national level to the smaller scale provisional league.
The benefit in applying blockchain technology into this management effort is enormous, providing transparency and fairness not only to each participant of football leagues but also to the dedicated football fan.
At the doorstep, players’ identity can be managed using blockchain technology, which provides transparency for data. This will provide a consistent record of data and performances from football players at different tournaments, prevent cheating and the participation of ineligible players.
In addition, KardiaChain offers the infrastructure to blockchainise the ticket system with truly huge implication. According to studies, secondary market for ticket in Asia worth roughly $2.24bn in 2017 with a CAGR between 2015 and 2021 is 19%, which will result in $3.18bn of market size with Sport being the largest segment. In Vietnam, with the recent historical achievement by many sports teams, especially the Vietnam National Football Team, secondary ticket market has become even more problematic as organiser losing millions in opportunity cost to ticket sellers while true fans could not afford to see any match. A ticket system applying blockchain technology will provide an effective ticket resale management, fans are ensure of the authentication of tickets they are exchanging. Organiser’s headache on security of each tournament will also be limited as each ticket is assigned to a specifically identified fan.
Furthermore, a loyalty and reward system can also be put in place using KardiaChain technology. This will facilitate the interaction between fans and the team they are supporting. With transparency and easy-to-use system, actions which fans take to support the team can be recorded, monetised and exchanged for rewards in team’s merchandise, ticket to attend future events or even snack on the stadium/arena. Fan is a special customer and increases the interaction with fan will bring many benefits including revenue and affecting the overall performance of the team.
From the Federation standpoint, the application of blockchain technology would benefit significantly in digitalise a huge database, allows different functional departments to share and exchange data effectively in a secured manner, providing a cost-effective solution, saving both time and human resources.
This is a significant push on KardiaChain’s mission to bring blockchain technology to mass use. Especially in a football-loving country like Vietnam, we believe this collaboration will raise the level of awareness for blockchain technology in millions of people as well as accelerating the speed of integration into different aspects of life.