London Football Exchange releases sports cryptocurrency. Could it help Sunderland?

The ways things have been, especially under Ellis Short and even now as new owners try to bury the legacy of mismanagement and debt, assistance from any source for Sunderland AFC is welcome as they try to fight their way back to the Championship and then the Premier League. This writer feels the use of sports cryptocurrency could provide one such helping hand …

Photo by Joshjdss Arsenal recently became the first Premier League team to sign with a blockchain sponsor, and now the London Football Exchange is to release its own cryptocurrency.

The London Football Exchange (LFE) has released a football-related cryptocurrency, which it hopes will lead to the formation of a fan-driven football community. With this being an idea that they can take forward, it is important to consider potential scams and hacks when it comes to something like cryptocurrency. For example, a small Canadian cryptocurrency exchange, Maplechange were hacked. This resulted in the loss of funds. During this increase in popularity of cryptocurrency that inspired LFE, lots of legitimate software like Gunbot and companies were made to aid people’s trading to help them make more money off the currency. Many people don’t have very good knowledge of cryptocurrency so they use these resources instead.

The LFE’s token presale began in January while the public sale ran from February to May. The LFE cryptocurrency token is to be used to power an ecosystem of sports, entertainment and finance that will benefit both clubs and fans.

The news comes shortly after CashBet’s announcement that they will partner with Arsenal FC as the Premier League team’s exclusive blockchain sponsor.

CashBet coins are used for iGaming in the sports and casino sectors, industries in which cryptocurrency is quickly gaining traction. It has been recognized as more people have been fascinated by the accessibility to be able to buy bitcoin and use it on a number of web-based transactions. As well as Bitcoin sports betting sites, there are also poker sites which utilise gaming tokens on blockchain systems. Anywhere in which betting is possible, cryptocurrency seems to fit well.

Yet the LFE cryptocurrency is a little bit different. It doesn’t focus on sports betting, but rather on creating a point of interaction between fans and their favorite clubs.

Fan-Driven Football Community

The LFE will use blockchain technology to allow clubs to provide loyal fans with exclusive access to match tickets, VIP experiences, such as tours and player “meet and greets”, and unique merchandise, all using the LFE token as a means of transaction.

They plan to launch both an LFE Market and LFE exchange where fans who are token holders can gain access to services, merchandise and offers directly from participating clubs as well as buy the LFE token needed to take part.

LFE will utilise the Ripple and Stellar networks to support the creation and distribution of tokens and allow trades and transfers. The LFE token will be available to buy with Bitcoin, Ethereum, Ripple or bank transfers using fiat currencies like the pound and the dollar.

Fans will also be rewarded for engagement using an LFE points system. The more an LFE token holder engages with their favorite club or league, the more points they will gain. These points will allow fans access to offers, rewards and incentives.

The overall goal is to create the ultimate fan-driven football community where clubs and players can interact, and clubs can offer better services at reduced costs, directly to players.

Financial Incentives for Clubs

The incentives for clubs to get involved with the LFE token and exchange are plentiful. For example, several clubs within the UK outsource their ticketing to legacy platforms and suffer a 5-8 percent fee for doing so. With the LFE, clubs can offer match tickets directly to fans with zero costs — the LFE says some of these savings must go back to the fans and the community.

Also, the LFE token will grant fans the opportunity to involve themselves in club financing packages. Clubs of all sizes, from La Liga legends to amateur sides, will be able to raise fresh capital by creating their token. Fans can buy this token to finance their side, and in return, could be given equity stakes and returns as well as unique experiences and rewards. In doing so, the LFE opens up the door for clubs to utilise the token economy for funding.

The Italian Series B club FC Bari 1908 was the first club in the world to get involved. It is believed that the LFE is in discussions with 50+ clubs from the UK, Europe, the US and Australia.

If Sunderland were to get involved, perhaps the financing options would help their chance of promotion. If the idea takes off, fans could soon see themselves interacting, trading and investing in their favorite club.

Over to you, SAFC’s new owner Stewart Donald …

Clicking the image takes you to the Salut! Sunderland home page

Arsenal’s chief whinger Piers Morgan applauds Wenger? Pass the sick bag

Arsène Wenger inanimate

It has often been said that putting a top manager in charge of Sunderland, or recruiting such players as Messi and Ronaldo (throw in a Pickford for good measure), would not change anything. They’d still succumb to the SAFC malaise.

When we look at players or bosses who arrived at the SoL with big reputations, the point is perhaps well made. But I have a feeling that Arsène Wenger would have been a great Sunderland manager. I just wish he’d been ours for 22 years, not Arsenal’s.

I care little about his reluctance to criticise his own team or even see incidents that reflect badly on his players. That’s not what he’s paid for.

What he is paid for, until the end of this season, is to use whatever skill and resourcefulness he possesses to ensure his club. Arsenal, win or get close to winning trophies.

Forget the whinging Gooners with their ludicrous delusions of grandeur: he has delivered exactly that for a club that has pots of money but not enough to compete with those with Middle Eastern or Russian gold.

And what should we make of Piers Morgan, an especially loud anti-Wenger voice, attempting now to heap praise on the departing manager? I felt nauseous when I read the following remarks :

I’ve led the Wenger Out campaign on social media but I don’t feel gleeful. I’m not gloating about it – I just wish he’d done it years ago. He lost me when he sold Robin van Persie to Man United. That did it for me.

Last year was Wenger worst ever year, this year is even worse [please call in the sub-editors – Ed]. It’s time to go, I’ve known that for the last eight years.

It’s a good day for Arsenal, but it’s also a sad day for Arsenal. I’ll be singing ‘one Arsène Wenger’ on Sunday – he’s done the right thing.

I would be very happy to call the Emirates Stadium the ‘Arsène Wenger Stadium’.

The oafish faction among Arsenal supporters, as exemplified above, sees Arsène Wenger as a failure.

If only Sunderland AFC could have suffered such affronts to their pride as this:

FA Premier League (3): 1997–98, 2001–02, 2003–04

FA Cup (7): 1997–98, 2001–02, 2002–03, 2004–05, 2013–14, 2014–15, 2016–17

And a constant presence near the top of the Premier League and in Europe.

Should we just mind our own business?’

But every cloud … at least I can now look forward to hearing more of Wenger’s eloquent thoughts as a pundit during televised games on French TV.

M Salut, drawn by Matt, colouring by Jake. Go back to the Salut! Sunderland home page by clicking the cartoon

Sixer Says: thanks for memories of beating Arsenal en route to Wembley glory

Pete Sixsmith, minus the flares

Just when we’re all down in the dumps, Pete Sixsmith rides along on his white steer to cheer us up a little. A wave of nostalgia swept over Sixsmith Towers after Salut! Sunderland‘s associate editor John McCormick alerted him to a showing of the 1973 FA Cup semi-final at Hillsborough. Sixer revelled in the reminder of his best day out as a SAFC supporter …  …

Read moreSixer Says: thanks for memories of beating Arsenal en route to Wembley glory

Recalling Sunderland’s most memorable games in history

[polldaddy poll=9939797]

A just-for-fun poll introduces this look at some of the greatest games in Sunderland AFC’s history. Many readers will approve of the choices made by Ben Jones, a sportswriter and ‘massive Sunderland fan’. Others might add the 4-1 defeat of Chelsea in the first of our seventh-top Premier seasons under Peter Reid. Or the first FA Cup 6th Round replay against Manchester United at Roker Park in 1964. Back in 2013, a Roker Report piece on great games over the festive period threw others into the mix: the last-second win against Man City on New Year’s Day, 2012; a 4-1 Boxing Day romp at Bradford in 2000 and two Old Trafford classics (a 5-3 win on Boxing Day 1950 and a 2-1 defeat on New Year’s Day 2003. You decide …

Since Sunderland became the first new team to join the Football League in 1890 and from the earliest seasons, their name has been embroidered prominently in the tapestry of English football history.

Read moreRecalling Sunderland’s most memorable games in history

Is loyalty dead? Jimmy Armfield 17 years at Blackpool, Arsenal men can’t wait to move

What does Bobby Gurney
have in common with Tony Adams, Jimmy Armfield, Billy Liddell, Matt Le Tissier, Sam Bartram, Packie Bonner, Jamie Carragher and Jack Charlton? All were one-club players, each clocking up hundreds of games without ever leaving for bigger, better, richer or more fashionable teams.

Silksworth-born and starting at Bishop Auckland, Gurney scored 228 goals in league and cup, the highest tally in Sunderland’s history, in 390 games for what was his only professional club in a career stretching from 1926 to 1944. See Stat Cat site for all the fascinating detail.

Will we ever see his like, their likes, again in an age when players and managers seem to regard clubs as mere stepping stones and football owners, in common with most employers, give the impression they would struggle to spell loyalty let alone demonstrate it?

Read moreIs loyalty dead? Jimmy Armfield 17 years at Blackpool, Arsenal men can’t wait to move