Algorand To Record Chess Player Data And Ratings For FIDE Online Arena on Its Blockchain

It's hoped that leveraging blockchain would allow for game results and player records to be tracked, recorded and stored in a highly secure system.

The official online Body of Chess has selected Algorand’s blockchain platform to record FIDE Online Arena World Chess Player’s data, which would include ratings and titles of players updated in real-time. People would be able to view the details of the online chess tournaments with a click of a button.

FIDE was founded in 1942, and it acts as a governing body for the sport of Chess and also responsible for creating various international chess tournaments. Fide Online Arena is the server which is often used to host official online tournaments and world champions where participants can earn global ratings and titles.

Silvio Micali, the founder of Algorand, also played a game of Chess against grandmaster Sergey Karjakin as the inaugural game for the FIDE Online Arena, and was recorded on the Algorand’s blockchain and broadcasted via World Chess.

Ilya Merenzon, CEO of World Сhess, commented on the decision to move to blockchain stating that it would bring more transparency in record keeping. He said:

“It’s exciting to continue bringing innovation to Chess. The advent of digital games on the internet made Chess more popular than before, and now we can’t wait to further explore blockchain innovation for digital Chess.”

How Algorand’s Blockchain Would be Utilized?

The Official online body of Chess aims to use Algornad’s blockchain to store game results and verify player’s ratings in a way that cannot be manipulated or altered. World Chess would also make use of the blockchain ledger to develop new reward systems and offer incentives to players in using the internal currency.

Blockchain-based ledger would help World Chess to explore the extents of blockchain technology, and they would also like to examine various aspects of the nascent technology.

Sean Ford, COO of Algorand, called their association with World Chess as a historical event and believe the blockchain technology would not only help World Chess to create a robust system for record-keeping but also help in mainstream adoption of the decentralized tech. He said:

“This historical moment brings the blockchain community one step closer to mainstream adoption, as a widely popular competitive game like chess leverages distributed ledger technology to serve as the official record for the trust of millions of online chess players and fans.”

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Hank Klinger
Hank Klinger
Hank Klinger has been working online for seven years now. He has written for several national companies. Hank has been a part of our team for over three years, reviewing ICOs, new cryptocurrencies and helping us keep up to date with industry news. His primary knowledge is in marketing, sales, and advertising, and he uses that knowledge to research and pick out reliable sources of information to use as a basis for his writing.

[Alert] Use the author's self-conducted information at your own risk, do you own research, never invest more than you are willing to lose.

[Disclosure] The published news and content on BitcoinExchangeGuide should never be used or taken as financial investment advice. Understand trading cryptocurrencies is a very high-risk activity which can result in significant losses. Editorial Policy \\ Investment Disclaimer

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