«We should open Karate to the public and receive criticism, opinions, and studies from other prominent martial artists.» — Chojun Miyagi (founder of Goju-Ryu Karate)
How fast is the technology of smart contracts being adopted in contemporary life? Well, a wave of startups and companies in the market are constantly growing, but lots of people think it takes us many years to see this technology is widely used.
Today we are going to talk about a really interesting and unique blockchain company which is groundbreaking enough to prove the progress in this field is much faster than many people think.
Welcome to BoutsPro, a global company created to expand and modernize the ecosystem of karate integrating its traditional, sport and contact forms. Can you possibly imagine it? At first, I could hardly believe a purely traditional martial art might be related in any way to modern technologies and in particular to the system of blockchain and smart contracts. But then delving deeper into the process I was surprised how organically and firmly the blockchain and a traditional martial art can be interwoven despite their seeming differences.
Let’s go back to history in order to understand how blockchain can be integrated into an economic aspect of karate and yield benefits.
Karate (from Japanese 空手道 karate-do: «the way of the empty hand» or karate «the empty hand» ) is a Japanese martial art and the system of attack and defense. In the early years, it was an unarmed combat and was used only for self-defense. In the second half of XIX cent. karate was widespread in Japan. In 1924 the first karate club was established by the Keio University and after that karate became very popular in Japan and then all over the world. Nowadays karate is a spiritual path for a lot of people around the globe. There are karate clubs in every big city and world and regional competitions are held everywhere. From 2020 karate is considered to be an Olympic sport!
Both in an amateur and professional karate organizations and participants bear the costs of preparations for tournaments, participating in them, purchase of equipment and outfit. Nowadays sportsmen dedicate their lives to karate and as a result, they earn large amounts of money. Lots of people join karate clubs may be because of a trend towards healthy lifestyle and appreciation of outdoor activities. So nowadays nearly 190 million people all over the world are connected with karate in any way (including 60 participating countries with their 500 sports teams)
The existing ecosystem of karate is divided into different organizations (ITKF, WКF, WFF WUKF and WPKC). Each one collaborates with other and includes a wide range of activities:
*/Ceation and management of tournaments of various scales;
/The support of sports popularization;
/Creation and maintenance of sports halls for training;
/Television and film production;
/Public activities;
/Purchase and sale of outfit and equipment and so on.*
All this system strongly requires a technology-based solution to economic management and structuring. It allows to function properly and transparently and manage both incoming (sponsorship of tournaments and activities, advertisement) and outgoing (taxes, coaches’ salaries, costs of advertisement, rental payments, health insurance, etc) financial flows effectively.
BoutsPro offers the solution based on the last technologies of cryptocurrencies and smart contracts. The implement of the blockchain technologies will change the existing economical paradigm fundamentally making it transparent and comfortable for each participant; optimize it at all levels of usage; moreover, blockchain will attract lots of new people, companies, and investors, which will be mutually beneficial. All these factors will give a new boost to the ecosystem development!
Blockchain technology is a distributed database saving information about all transactions among the system participants. It is a “chain of blocks” created to assume the important duties such as the registry of transactions, the confirmation of a person’s true identity, contracting, which earlier were taken up by the financial service sector. The registry is accessible to each blockchain user acting as a collective notary who confirms the veracity of information in the database.
BoutsPro will broaden the horizons of the existing traditional economic and social ecosystem of karate.
A central portal will be at the core of this system and sportsmen and participants could register and get all relevant information of a community life such as ratings, lessons, programmes, notices of upcoming events, contests and so on.
There will be sport ticket sales, franchises, and advertisement of all kinds (banners, slots, etc) on the portal. It will become the substantial part of
the company’s income. The karate promotion in mass-media, the support of international competitions and Olympiads, the creation of stadiums of international classes, sponsorship, insurance, video-games and other kinds of the popularization of this sport will be linked with BoutsPro. It allows the whole ecosystem to function most effectively and stably profiting and promoting karate around the world.
It’s important to mention that on the basis of BoutsPro will be created a fund ”CuppaSchoola”. It’ll be served for karate support, its development and popularization around the world. The fund will offer grants for sportsmen, various development programmes and solve lots of other important organizational issues.
Of course, the company has ambitious plans. More than that the community itself supports the idea and takes part in its realization. It buys tokens «BOUTSPRO» which will become the main financial means of payment inside the system.
There is some technical information:
Tokens are created on the ERC-20 protocol. The total number of issued tokens is 2 billion. On the sale the tokens’ value is 9000 for 1 ETH, the amount of minimum purchase is 0,1 ETH.
The realization of all tokens is in the following:
50% — public offering of tokens.
25% — reserve for the community, allowed at ICO prices
10% — the share of developers (blocked by smart contract for 1 year)
5% — sportsmen and coaches’ prize
3% — advertising campaign
2% — the share of advisers
5% — a reserve fund
The team of the project consisted of famous sportsmen and public figures, skilled professionals in the field of the blockchain. You can learn about their biographies, titles, and achievements on the website (see the link at the end of the review)
In conclusion despite this company includes incompatible things a deeper analysis shows that the project is really interesting and groundbreaking and solves plenty of real economic and social problems; it also attracts both investors and new participants. Moreover, it’s scaled and has preconditions for the future development in different fields.
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Author: https://bitcointalk.org/index.php?action=profile;u=1152502
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P.S The author is not an expert in the field of blockchain technology and smart contracts and does not call for investing in any companies and projects. In making any financial decisions readers should always must rely on their own experience and understand all possible risks!