China Sports Influence Salon: When Blockchain is on the Sports Industry Ecosystem

When blockchain technology, which is subverting the rules of the game in the financial industry, crosses over with the emerging sports industry, how amazing will the sparks created between the two be?

On June 26 , Beijing time, at the sixth TTD China Sports Influence Salon, co-organized by the School of Business, School of Economics and Management, Communication University of China, TTD Sports and China Sports Industry Research Center of Peking University , many experts from the United States, Singapore, the United Kingdom, Hong Kong, China and mainland China in the fields of finance, Internet and sports industry conducted in-depth discussions on the theme of "Blockchain Reshaping the Future of Sports and Media". It is reported that this is the first time in history that the concept of blockchain and the sports industry have been integrated across borders. The salon was co-hosted by Sheng Yunfei, vice president of TTD Sports, and Jing Yu, assistant director of the Sports Industry Research Center of Peking University. It is reported that this is the first time in history that the concept of blockchain and the sports industry have been integrated across borders.

Ms. Su Ling, founder of TTD Sports, the organizer, said: In the past, people's mutual trust was based on independent and incomplete information. For example, Zhang San's trust in Li Si was based on limited time and information, so sometimes they would make mistakes. Blockchain technology brings together all the information of people and institutions, which can be long-term and multi-faceted information, and is closer to the real understanding. In other words, in the future, there will be no need for college entrance examinations. Only blockchain technology can fully and comprehensively understand all the information of any student. In other words, blockchain emphasizes that each individual can directly form a trust mechanism and form transactions through distributed guarantees. The changes in trust mechanisms brought about by the iteration of this transaction trajectory may lead to huge changes in many Internet-related legal fields in the sports industry, such as the brand achievement of sports event IP , the growth trajectory of sports stars and teams, and the consumption upgrade of sports membership systems. The combination of mass leisure sports activities and blockchain has many possibilities for sports consumption innovation, and the cross-border cooperation between the sports industry boom and blockchain clusters reflects the huge changes in consumerism and social structure. Blockchain theory has an all-round and three-dimensional impact on the reshaping of the sports industry, so blockchain may become a nuclear-level weapon to boost the sports industry! As a leader in China's comprehensive sports service industry, TTD Sports was the first to introduce such forward-thinking discussions in the country, which is also based on the philosophy and sense of mission of TTD Sports.

Although the principle of blockchain has become a hot topic in the financial industry today, and many of the world's top commercial banks have listed it as a key research topic, blockchain is still very mysterious to most people outside the financial industry. Therefore, at the beginning of the salon, Mr. Xia Ping, a postdoctoral fellow at Yale University, vice president of the International Chinese Science and Technology Business Association, and chairman of Yifan Financial Technology Co., Ltd., delivered a keynote speech entitled "Unveiling the Mystery of Blockchain", which introduced the origin and evolution of the principle of blockchain in an easy-to-understand way.

Transaction records. It is essentially a decentralized database and the underlying technology of Bitcoin. Blockchain is a series of data blocks generated by cryptographic methods. Each data block contains information about a Bitcoin network transaction, which is used to verify the validity of its information (anti-counterfeiting) and generate the next block. Today, after upgrading, blockchain technology has become a network technology that connects distributed information and can establish a new trust mechanism. In the future, the understanding of a person and an organization will change dramatically, completely changing the previous way of building trust. This technology will subvert the current Internet.

Then, Deng Mu, a Ph.D. from the National University of Singapore, co-founder of a rating agency affiliated with the Monetary Authority of Singapore, and founder of Qianhai Jingtong (Shenzhen) Technology Co., Ltd., delivered a keynote speech entitled "The Development and Breakthrough of Blockchain Applications". They believe that the decentralized, trustless, reliable database, open source, and anonymity characteristics of blockchain and the liquidity of the entire network will connect everyone together, save a lot of costs, improve the efficiency of resource allocation, and further improve the security of financial circulation, which will fundamentally change the Internet economy we are experiencing.

After an in-depth interpretation of the principles of blockchain, experts Xia Ping and Deng Mu had an interesting dialogue on "Creating Best Practices in Blockchain Sports" with Pan Geqiang, founder and chairman of Shihuan Chuangzhi Cultural Communication Company and partner of TTD Tengtidu Cultural Communication Company, Lin Xu, who holds a master's degree in finance from the University of North Alabama and is the founder, chairman of the board and chief executive officer of Wanzhuo Capital Group Co., Ltd., Yi Aimin, who holds a master's degree and MBA from Peking University and is the co-founder of Beijing Holographic Mutual Trust Data Technology Company, and Sun Daojun, director of the Case Center of the School of Economics and Management of Communication University of China. Everyone creatively proposed many inspirations for the cross-border integration of blockchain and sports.

Pang Geqiang believes that blockchain technology can promote the upgrading of athlete economy and fan economy monetization models in the sports industry. He took the example of Cristiano Ronaldo, a soccer star currently competing in the European Cup. Fans are not only satisfied with watching Cristiano Ronaldo's performance on the field, but also eager to pay attention to Cristiano Ronaldo's life 72 hours before and after the game . After the introduction of blockchain, athletes can accurately establish seamless linkage with consumers, and fans can pay to view or even interact with a block of Cristiano Ronaldo's information at any time.

Yi Aimin believes that blockchain seems to be focused on its technology, but in fact, blockchain is technology + management + philosophy. If you only focus on the technology of blockchain, you will be missing out. Blockchain technology uses mature technology, but what really stands out is its management and philosophy. The philosophy of blockchain is that everyone can form an independent chain, and these chains record various types of related information. When necessary, these chains can be connected to form a blockchain cluster, which we call a blockchain cloud. In the blockchain cloud, everyone's information is equal and can achieve point-to-point precise docking. And the blockchain cloud

Introduced into sports, this is a brand new management model. For example, in sports advertising, in the blockchain cloud, advertisers and audiences can be precisely connected point-to-point, without having to pay a large amount of advertising fees to the intermediary advertising broadcaster.

The audience said: "This is a very brain-burning and exciting salon. It tests everyone's understanding and reaction ability. It is very knowledgeable and worth spending this weekend."

The TTD China Sports Influence Salon lasted for three hours. The on-site discussion was lively and the experts agreed that TTD took the lead in guiding the society to pay attention to the combination of sports industry and blockchain. This is a milestone meeting for theoretical research on China's sports industry.

Tips: Blockchain

Blockchain is an important concept of Bitcoin. It is essentially a decentralized database and the underlying technology of Bitcoin. Blockchain is a string of data blocks generated by cryptographic methods. Each data block contains information about a Bitcoin network transaction, which is used to verify the validity of the information (anti-counterfeiting) and generate the next block.

The blockchain is public on the Internet and can be queried in every offline Bitcoin wallet data. The function of the Bitcoin wallet depends on the confirmation with the blockchain. A valid verification is called a confirmation. Usually a transaction needs to obtain several confirmations before it can be carried out. Lightweight Bitcoin wallets use online confirmation, which means that the blockchain data will not be downloaded to the device storage.

Many competing coins of Bitcoin also use the same design, but with slight differences in proof of work and algorithm, such as proof of stake and SCrypt .