WATCH: This start-up uses blockhain to help fund football academies worldwide
CAPE TOWN – Bitcademy, a social impact project based in Poland aims to create a digital marketplace for academy footballers allowing for the trading and investing in players directly by using blockchain technology and Artificial Intelligence (AI).
Founded this year in February, the company wants to stimulate local economies by providing educational facilities and training academies that will be open to members of the community.
"We started social media campaign 3 months ago and so far our followers exceeded our expectations – Twitter 18K, Telegram 23K, Facebook 12K", the company told Business report.
"Our main focus is to create a platform of digital decentralised services where young players can be sponsored directly by investors all over the world. We want to help to elevate local communities and bring balance in sports."
According to Bitcademy, they have self-financed the business but are in-active negotiations with few venture capital companies.
"Since we got more traction online, the interest is growing both in business and football world," said the company.
The company currently employs a team of 17 people with experience in start-ups, business, IT and football experts.
"We're preparing for Initial Coin Offering which is nothing more than another version of Public Offering where investors can buy our shares. It's going to happen in December and it's open for everyone - the minimum investment is $200," said Bitcademy.
When asked about the social project, Bitcademy said its aim is to help kids achieve their dreams.
"Imagine that a school can provide education for 4 years and after you can become a professional football player. It's easier as we build proper software (which we call marketplace) to expose players for football clubs – your progress is monitored at school with the latest technology, AI calculates your skills' predictions, your profile is on the marketplace – you're more attractive and visible for clubs," said the company.
As an investor in the initiative, you will sign a contract with the academy and participate in the profit from the contract signed by the player.
When asked about where Bitcademy sees the future of blockchain going, the company said that they believe blockchain is the future otherwise they wouldn't be making this project.
"The biggest advantage is transparency - whatever is on blockchain cannot be changed - that can bring more stability to football which in many cases is very corrupted. I think the biggest use will be to create sustainable environments and make a social impact footprint", said Bitcademy.
BUSINESS REPORT ONLINE