BITCOIN

Blockchain technology joins fantasy sports market

TAGs: Bitcoin, Blockchain, BTL Group, fantasy sports, Jasmine Solana

Ready or not, blockchain is coming to fantasy sports.

Blockchain technology joins fantasy sports marketCanadian blockchain solutions provider BTL Group has teamed up with games developer Fantasy 6 Sports to develop a suite of blockchain services targeting fantasy sports companies.

The companies plan to develop a proprietary platform called SecurePlay, which they said will address the need for “trust and transparency” in the fantasy sports space.

“[SecurePlay] will be the first of its kind to leverage blockchain technology and smart contracts in ways which will transform how games, contests and transactions are conducted and carried out in the fantasy sports industry,” the companies said in a statement.

SecurePlay is already being used by Fantasy 6-owned social sports data platform FansUnite.com “to ensure data integrity in their $100,000,000 Pick ‘Em Challenge.”

“Our partnership will be focused on the implementation of blockchain technology in fantasy sports, beginning with security and transparency, and we see nothing but a very high ceiling for the results of our collaboration with BTL,” said Shafin Diamond Tejani, chairman and CEO of Fantasy 6.

Singapore broker starts accepting bitcoin deposits

Bitcoin enthusiasts may soon use their digital currency holdings to fund their futures trading accounts.

Singapore-based boutique brokerage house Straits Financial LLC recently partnered with payment process BitPay and digital bank WB21 to enable bitcoin deposits, according to the reports by Financemagnates.com.

Under the partnership, users can fund use bitcoin to fund their WB21 accounts, which, in turn, will send the WB21 money to their Straits trading accounts.

“BitPay and WB21 will help customers to easily convert their bitcoin holdings into currencies that can be used to fund their futures trading accounts and will provide the bitcoin community easier access to an alternative suite of investment options,” Straits Financial President Joseph Mazurek said in a statement.

Current bitcoin price and trade volume

The popular digital currency traded at a low $604.17 on Tuesday morning, with a trade volume of $11.45 million.

Comments

views and opinions expressed are those of the author and do not necessarily reflect those of CalvinAyre.com