Watching or taking part in any kind of outdoor or indoor sport has been one of the oldest methods of recreation. With time, opting for a certain sport as per individual skill has also become a very lucrative and satiating career choice. Manifestly, the sports industry is becoming one of the most booming industries in the world similar to online gaming and entertainment. As the cryptocurrency market has extended its purview significantly over the past few years, a few cryptocurrencies are designed to aid and support this industry as well. All Sports Coin or SOC is certainly the most noteworthy and familiar digital coin among these currencies.
Since the beginning of this year, the big guns of cryptocurrency market like Bitcoin, Ethereum, and other currencies dependent on their technology are having a seriously hard time to maintain a stable price and market capitalization. As a result, a considerable number of traders are inclining towards coins that offer something sui generis. In that aspect, SOC offers an ingeniously distinct solution by implementing blockchain technology for the betterment of sports industry. Here, a few characteristics of this cryptocurrency would be discussed to elucidate why it has the potential to become the face of the future sports industry.
The Purpose of SOC at a Glance:
All Sports Coin combines business situations of sports industry with the latest applications to create an infallible blockchain ecosystem. In this currency’s platform, SOC is used as the native cryptocurrency for the transaction and various other purposes. The SOC platform uses smart contracts to provide a convenient as well as user-friendly payment system along with an application development agreement and settlement for the currency developers. The sole purpose of creating this blockchain platform was to offer a supporting system for various sports information all across the globe along with promoting IP asset trading platforms, application open platforms, prediction entertainment platforms, and many more.
Since its introduction to the market in January 2018, this currency has been providing a decentralized blockchain platform that is capable of enabling free-flow of transmission within the global sports industry ecosystem. SOC’s adept development team has also exhibited a strong offline resources integration capability by reaching a consensus with world’s largest mobile football media.
SOC Internal Architecture:
The All Sports blockchain ecosystem can be categorized into a few platforms with different functionalities and features. These platforms include:
- IP Asset Trading Platform: This platform is responsible for liaising among a considerable number of entities namely IP asset owners, fans, supports, content developers, etc. in order to make the integration of various industry resources possible. This platform consists of four separate units namely an IP asset display platform, IP asset distribution platform (also known as the primary market), IP assets transactions or the secondary market, and the IP authorized transaction center. Together, these four units help the traders and asset owners a vast range of activities starting from trading to reverse price settlement.
- Sports Betting Platform: SOC offers one of the most ingenious sports betting platforms where the SOC token holders who contributed to the All Sports platform would be able to earn a significant amount of money depending on the demand of their own products. SOC offers a few ingeniously built on-chain application which can be used to predict various sports outcomes accurately. As many countries around the world are offering a flexible approach towards sports betting, this SOC platform is likely to become immensely popular in future.
- Blockchain Tech Realisation: This platform improves the transparency of the entire blockchain ecosystem. It helps in updating various sports-related statistics and data with the help of smart contracts and a distributed ledger. It also prevents malicious activities like data tampering and distortion of information for personal benefit.
Advantages of Trading SOC:
Trading or investing in All Sports Coin comes with many benefits such as:
- A transparent prediction and entertainment platform without threats such as data tampering. As SOC is open-source and decentralized, all SOC holders across the globe can monitor the activities occurring on this platform eliminating the possibility of various fraudulent activities.
- The smart contracts of SOC can mitigate the risk of default among participants by ensuring safe delivery of all interests of the participants to a safe platform.
- All Sports Coin offers an impregnable ecosystem with an encryption code nearly impossible to decipher. This reduces the possibility of occurring malicious cybercrimes like hacking significantly.
- SOC offers a global ecosystem where any individual belonging to any part of the world can actively participate.
Current State of SOC:
SOC currently holds the 97th position on Coinmarketcap with a price tantamount to approximately $0.26 and a market capitalization of circa 195 Million USD (as of 7th May 2018). Since its inception on 26th January 2018, this currency has been showing a steady progress which escalated in the past few weeks.
Final Thoughts:
The sports industry is a billion dollar industry that is thriving rapidly with implementing new and innovative technological applications. Hence, with the implementation of blockchain ecosystem in sports, its popularity is likely to increase even more. All Sports Coin has a very efficient team that implements new features constantly. With such a strong technological support, SOC has the potential to be the face of the future sports industry and if it becomes possible despite market volatility, the current holders of this coin would deem themselves incredibly fortunate.
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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.
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