Dallas Mavericks CTO: Crypto Payment Option Still ‘A Cottage Industry’

The Dallas Mavericks pro basketball team’s cryptocurrency payment option has not yet caught on with the majority of fans, the team’s chief technical officer said in a recent interview.

As sports business-focused media outlet Front Office Sports reported on Nov. 14, Mavericks CTO David Herr said that the team wants to provide its fans with a more flexible way to purchase tickets and merchandise, thus enabling them to pay with cryptocurrencies. However, Herr pointed out that the demand for such an option is still very low, saying:

“[Users] are pretty low, I don’t want to say infancy, but it’s a select group of people using it […] We did some research, heard some discussions and conversations and one comment was it’s still complicated to 99% of the population. Until it’s more widely accepted, it’s a cottage industry or a neat way to pay.”

As previously reported, the Mavericks became the second NBA team to accept Bitcoin (BTC) as a means of payment for match tickets and merchandise in mid-August. The team uses cryptocurrency payment processor BitPay to process their fans’ Bitcoin payments.

Herr said that the novelty of paying in cryptocurrency was part of the decision to introduce the payment option, stating, “We want to provide cool things for the fans and crypto was in response to some requests we’ve had.”

Sports adopting crypto and blockchain

Professional sports teams in various leagues and sports across the world have begun to dabble in blockchain and cryptocurrencies. In mid-October, the Sacramento Kings — the first NBA basketball team to adopt cryptocurrencies — partnered with creator of Ethereum-based Kaiju toys, CryptoKaiju, to launch crypto-collectibles. The collaboration followed the news that the team was launching a blockchain-powered rewards program within its gaming app Call the Shot.

In Germany, FC Bayern Munich became the latest football club to announce blockchain-based merchandise for fans, following a partnership with Stryking Entertainment to produce digital collectibles of its players.

By
Ana Alexandre

German Entrepreneur Claims to be Satoshi Nakamoto, Co-founder of Bitcoin

The magic title of Satoshi Nakamoto—the pseudonymous creator of Bitcoin, seems to draw claimants from everywhere with the latest being a German entrepreneur and former DJ popularly known as “Jorg Molt.”

Molt claims he is the real Nakamoto, a co-creator of Bitcoin, and owns 250,000 BTC. He revealed this to attendees of a crypto industry event in Las Vegas USA, last week.

The Power in ‘Satoshi Nakamoto’

The name Satoshi Nakamoto is quite powerful. The pen name defines the coder (or a group of coders) that created Bitcoin—a decentralized network that remains revolutionary to-date. The network created by Nakamoto provides a transaction settlement layer, which is ultra-secure and functions as non-sovereign digital money.

Since it launched nearly 11 years ago, Bitcoin has removed the barriers that traditional mechanisms failed to jump over. According to estimates from research groups in the industry, those who claim to be Nakamoto own big chunks of coins valued at more than USD$5 billion.

However, while many have come out to claim the ownership of the name, they have fallen off the map and failed to prove that they are the creator or co-creator of the pioneer cryptocurrency. All the same, people still emerge claiming to be the real Nakamoto.

“Bitcoin co-founder” Jorg Molt

Last week, the Vegas Blockchain Week took place in Las Vegas USA, drawing industry members bearing all sorts of professional and entrepreneurial tags.

In attendance was also Jorg Molt, the self-proclaimed Bitcoin co-founder. Both Molt’s Twitter Handle and his biography link to Bitcoin. The handle is “@bitcoin_cofound” while the biography reads “co-founder of Bitcoin.” Besides, Molt claims to own 250,000 BTC, which is equivalent to $2.3 billion according to the current market price.

For the most part of the conference, Molt went under the radar but his statement left an array of criticism from various quarters. A famous crypto commentator Kenneth Bosak posted a videoterming Molt a “scammer.” Another prominent Bitcoin educator Andreas Antonopoulos alsocondemned Molt terming his sentiments “A LIE.”