Chiliz and Binance Chain to push sports into crypto space

Chiliz, the digital currency for sports and media platforms, has announced a strategic partnership with Binance Chain on 17 May to bring household names into crypto space.

Chiliz expressed about Binance Chain as a blockchain software system built by Binance and its community. The digital currency firm opined that with this embrace, it would bring global brands such as Juventus and Paris Saint-Germain into the purview of digital coins. Chiliz further threw light on its key industry engagements. The firm is a digital currency that fosters blockchain-backed platforms and products geared towards casual or mainstream consumers.

Changpeng Zhao, CEO and Founder of Binance quoted –

“Sports is the perfect vehicle through which to educate mass consumers about the potential and the utility of blockchain technology. I’m proud that Binance and Chiliz are leading that charge globally.”

Chiliz conveyed that it had started its salient tasks with Socios, a tokenized fan influence mobile app. Alex Dreyfus, CEO of Chiliz and Socios added that the integration with Binance Chain protocol opens up opportunities to access large liquidity pools. Alex further added that the Binance community was one of the largest and active gatherings in the crypto ecosystem. Through Socios, it was hoped to convey the idea of blockchain to a mainstream audience.

Chiliz opined that with this embrace, it would bring global brands such as Juventus and Paris Saint-Germain into the purview of digital coins.

Alex sustained by adding that Binance Chain’s features for usability, security and one-second block time speed would be vital to the success of the platform. The eventual audience spanning hundreds of millions of sports fans would be benefited. To present this partnership, Binance would join Chiliz for a meetup in Seoul, South Korea and in Singapore. Personnel of Chiliz and Binance would be joined by key representatives to discuss the use of blockchain in football.

Recently, the Chiliz Blockchain Campus was officially inaugurated by Prime Minister Joseph Muscat and Junior Minister for Financial Services, Digital Economy and Innovation Silvio Schembri. Serving as the European gateway for Asian blockchain organizations, the Campus also has a number of partnerships with leading blockchain promoters.

Chiliz had raised over 66 million U.S. dollars last year including an investment from Binance as well as other high-profile investors. The currency firm conveyed that technical integration would be disclosed in the coming weeks. An important task was the partial migration of ERC20 tokens to BEP2. To onboard a number of major football teams, Chiliz would finally provide a fan engagement platform for hundreds of teams. Chiliz would soon reveal some of the platform’s further features while confirming its next football partner.