Former NBA Commissioner Emerges From Retirement To Back Ethereum-Based Cryptocurrency

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Former NBA Commissioner Emerges From Retirement To Back Ethereum-Based Cryptocurrency

Tue Jun 12, 2018 12:27 pm

My initial thoughts about Bitcoin and blockchain were that we were witnessing a modern day version of the tulip frenzy that would come to nothing and fizzle out. I then came to understand that blockchain technology had much to offer with respect to a range of transactions in many different industries, like the sports sector. However, I still have trouble understanding why Bitcoin, Ethereum, Ripple — or the unlimited number of new issues — can have such untethered value, Former NBA Commissioner, David Stern, told me.

Yet despite issues around the untethered value of various cryptocurrencies, the former NBA commissioner, who is credited with increasing the popularity of the NBA in the 1990s and 2000s, has chosen to back FanChain.

Announced today by SportsCastr, FanChain is a cryptocurrency designed to create a decentralized sports entertainment ecosystem. In turn, this will connect a fragmented landscape, aligning the interest of fans, athletes, teams, leagues and media entities alike.

We launched SportsCastr in alpha last year to let sports fans provide color commentary on live games straight from their couches to anywhere in the world, and continue to add features to revolutionize the fan viewing experience, said Kevin April, CEO and Co-Founder of SportsCastr. Developing a cryptocurrency to power and build this ecosystem is the natural next step, and we’re excited to introduce FanChain to our partners and millions of sports fans globally.


https://www.forbes.com/sites/rachelwolf ... b2084e168f

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