Adoption

The adoption of cryptocurrencies including Bitcoin among various sports clubs has increased significantly. The latest club to jump on the digital currency bandwagon is Dutch Football Club, which accepts all of its sponsorship payments in Bitcoin.

Although President Nayib Bukele was confident about his country's decision to recognize Bitcoin as legal tender, he was nearly brought down by widespread institutional criticism from agencies such as the International Monetary Fund (IMF), the World Bank and others. However, the recent endorsement from Bank of America gives Bukele renewed vigor and enthusiasm to continue pursuing the Bitcoin dream.

The International Monetary Fund (IMF) and the World Bank have been somewhat reticent about countries giving cryptocurrencies legal tender status or promoting their widespread use within their borders, but no one seems to be listening.

Cryptocurrencies are on the rise in numerous industries including sports. Many sports clubs are introducing salary payments, partnerships and sponsorships in crypto. AZ Alkmaar is the latest European sports club to crack a partnership deal where part of the sponsorship amount is disbursed in bitcoin.

Blockchain is certainly the next big technology for the global economy.

Monobank, a virtual bank founded in 2017 with over 2.5 million users, is doing everything possible to get the green light from Ukraine's National Bank (NBU) to allow a legal rollout of its first-ever bitcoin debit card before the end of July 2021. If approved, the new BTC debit cards will be available in the near future.

In this era of technological revolution, several employers, companies and organizations are trying to adopt machine learning, decentralized technologies such as blockchain and distributed artificial intelligence (DAI) to improve work efficiency and reduce operational costs as the adoption of these tools leads to a reduction in the workforce.

The President of the Republic El Salvador is the first president in the world to show such high-level support for cryptocurrencies. He will soon make Bitcoin legal in his country. Even then, crypto users in El Salvador may need to be careful with their personal data.

The US Congress recently passed at least two cryptocurrency bills that are supposed to facilitate mainstream adoption of digital currencies. The bill, called the Blockchain Innovation Act, and part of the Digital Taxonomy Act were passed as part of the broader US Consumer Safety Technology Act of 2020.