Gibraltar United, the First Crypto-football Club, Still Pays Players in Fiat Currency
Gilbraltar United is the first cryptocurrency football club in history, but it has not fulfilled its promises to pay players in cryptocurrency yet.
According to a report in July last year, Gilbraltar United was supposed to be the first team to pay players in crypto. The club owner Pablo Dana previously made this known and that it will continue till next football season (2019-2020).
“All players and staff will be requested to open a digital wallet, and they will be able to choose to receive their salaries in fiat or QTC [Quantocoin],”
the spokesman of the football club stated this through an email to Hard Fork. The email also said that even future gratuities would be paid in cryptocurrency.
Additionally, the football club also had in mind to incorporate the payment of players through cryptocurrency in other teams owned by Pablo. The club’s spokesman stated:
“This will also be the case for the other teams where [Dana’s holding] is a shareholder in Italy, Spain, and Portugal. Gibraltar is the starter. We announced this already back in January this year that the start of the 2018-2019 season would see the team adopt the cryptocurrency.”
These were great plans by the football club to integrate crypto, but it seems that these lofty plans can’t be achievable as the football season is almost coming to an end.
What Went Wrong?
The main aim was to get players to get paid in cryptocurrency through an application known as Quantocoin. As per the initial plan, all the players just had to download the application and get paid or receive their salaries through Quantocoin token. According to the club owner, players could either convert the token to fiat currencies or other digital assets.
Also according to Pablo, this route would have helped players not to face local banking issues and related problems.
Pablo said to Hard Fork:
“Once the players receive the QTCt, they can change them into altcoins or fiat at their own wish.”
These projections were made last year; few months’ later, the QTC native token was yet to be listed on crypto-exchanges, which implies that players can’t get their salaries except through the Quantocoin app or get their wages exchanged to fiat currencies.
No doubts, Pablo Dana is on the forefront to benefit if QTC gets listed in exchanges; he is also one of the ‘key people’ on Quantocoin’s official website page. You got the idea what's been going on, right?
The Latest On Quantocoin
Players were asked recently if they got their salaries through the means of the blockchain, but they said up till date they haven’t received their salaries or bonuses in crypto.
Nevertheless, Quantocoin is finalizing its ICO (Initial Coin Offering). According to a player in the team, salaries and bonuses will be paid once the Quantocoin app is fully functioning (sigh of relief).
The whole Gibraltar team is eager to get paid in cryptocurrency. If this is fully implemented this year, the football team will be the first football to get paid using cryptocurrency.
Given this, Pablo Dana had his say on the future of cryptocurrencies and its impact on football last year; he said that:
“Football must become more transparent and less corrupted, and blockchain is the right way to showcase this reality, For us, it is a fabulous opportunity to lead the way and finally bring real transparency to the table.”
On cryptocurrency, he added that cryptocurrency is very near to getting into the mainstream picture.