[Beginner Course] Steemit Crypto Academy Season 4 Week 1 | Socios.com - Blockchain Based Platform For Sports Industry|| homework post for professor @wahyunahrul
1). Explain in detail what is the Socios.com Platform?
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According to professor @wahyunahrul- socios is a platform created by chiliz which is a place for providing blockchain fintech for organisations in the sport field.
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Socios.com was developed or formulated on blockchain technology and makes use of CHZ token. This platform was invented by chiliz, and in this company, cryptocurrencies is used to purchase socios fan token which is also traded on a popular exchange. To visit their official website, Click Here. It also has an app which you can get on google play store.
screenshot from google play store
Socios.com is a fan influence platform, whereby fans are anxious to connect with their favourite team and earn some rewards for support. They are also partnering with lots of clubs all over the world who acknowledge that giving you a voice is good for them, and that is the reason for socios.com.
Furthermore, socios.com is the world's 10 influence app that gives you the power to take control of your favourite sport or team. To be able to unlock a new way of interacting with your favourite team or sport, you only need two things, which are $CHZ(their official currency) and FAN TOKEN
Chiliz is a digital currency which was designed to purchase fan token on the socios.com market.
Fan token are digital asset that provide access to an encrypted ledger voting and memebership right ownership. Fan token are unique to every team which means that a fan can have fan token of his or her favourite club.
2). What are the effects when blockchain has entered the realm of the sports industry?
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Blockchain has been able or gone so far in increasing popularity. However, we may ask, what will happen if blockchain is being applied to the sports industry? What is the effect?
Well, I can say that if blockchain is being applied in the sports industry, it can be able to model the business to have more quality and to be more flexile based on means or method of payment.
Using crypto current to vote for your favourite club will make sports more interesting, due to, competition is what keeps sport alive. Also, crypto currency can be used in online sport betting. The advantages of using crypto currency in online sport betting is that, there are very few fees associated and it also smooth the transaction.
3). Is Socios.com a good prospect as an investment vehicle? Explain your personal opinion along with strong evidence.
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In my opinon, i can say that the socios.com is a good investment vehicle, here is my reason.
Firstly, as explained earlier, that socios.com is a platform that gets you closer and permits you to vote for your favourite teams. Socios.com is more fun to sport lovers and crypto gears.
Investing on socios.com is the best thing to do, because, no high fee is charged and transactions are made very easy. Investing with the platform now in a low rate is pretty cool, because as time goes on, rate will get more higher, just like how bitcoin started.
Investing on socioa.com and supporting your favourite team via voting can make you earn some reward. One can sit at home to vote for his or her favourite team, like me, i am a fan of Barcelona. As a fan, i can just stay ar home and vote for my team. All this are what socios.com has been able to achieve. I think is a good investment.
Explain the steps to install the Socios application in full and explore the various features in the application. (Screenshot Required)
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Here are steps to install socios application
Step 1
Go to google play store, search on socios, click on it, then install the app
Step 2
When done installing the application, open it , the first that will show, you need to click the get started
step 3
It will lead you to another page, where you will be asked to put your phone number. After done adding your number , then click on send verification. You gonna receive a verification code on your phone number.
Step 4
After that, enter the verification code that was sent to you. Then it will start processing.
Step 5
The next page will open, where you can start registering with your email address and username. After filling the columns with your username and email address, click on register now
Step 6
You will receive an email in your email address, enter the email, then click on verify now to verify your account.
Step 7
You are good to go!!!.
You have successfully created an account on socios
Step 8
Go back to the app you will see 4 simple steps, which is how you can use the app- click on finish
Step 9
After verification, socios will give you SSU token for free, for successfully creating an account.
i had issue why reaching the verification process. I was not able to receive a verification sms, i guess am not the only one that experienced it. Other students experienced it too. But with steps i provided, shows that i was able to understand how to create a socios account.
5). Choose a Fan Token in the Socios application and do a detailed fundamental analysis. (Screenshot Required)
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Am a Barcelona fan, so i am choosing Barcelona token.
Firstly, i will explain what Barcelona fan token is. The Barcelona fan token is a token that allows Barcelona fans to vote or support their team using BAR token in socios application. This token stands as a key which allows memebers to join the competition of voting, in order to earn rewards.
below is the BAR prices data
screenshot from coinmarketcap
| Barcelona fan token price | $19.51 |
|---|---|
| Trading volume | $25,579,607.14 |
| Rank | #477 |
| Market cap | $65,368,336.54 |
| Fully diluted market cap | $780,288,954.67 |
screenshot from coinmarketcap
IN CONCLUSION
Socios.com is going to bring a great thing in blockchain technology. Socios.com is a good platform one can invest on, vote your favorite as a fan you are and aslo earn rewards. Socios.com also help in promoting the world of blockchain technology, which is going around the world today. I'm glad being part of the wonderful lecture. I have learnt somee few things about socios.com.
Cc:
Professor @wahyunahrul
Thanks for going through my post